Mar 15, 2026
3 min read
Agents, executives and coaches discussed the situation and the aftermath of a blockbuster trade.
The new league year began Wednesday, with Max Crosby still a Las Vegas Raider, the Baltimore Ravens still owning their first-round picks for the next two years, and the NFL still reeling from the ongoing fallout from a botched trade.
And 24 hours earlier, the Ravens surprised the Raiders and 30 other NFL teams by rejecting their trade agreement for Crosby, the speedy star they are preparing to deal with their first picks in 2026 and 2027.
In the minutes and hours after Baltimore exited the trade deal, the reactions of other executives, coaches and team agents varied from skepticism about the Ravens' motives - especially after they quickly agreed to deal with Trey Hendrickson - to wariness about future dealings with the organization.At least one wonders if the Ravens deliberately gamed the system by waiting to see if they could land Hendrickson before clearing Crosby.Most don't believe the unique situation will have a long-term impact on how the team does business with Baltimore general manager Eric DeCosta.
And some are in danger of assuming the change is permanent until the physical exam is finished and the new league year begins, which will be Wednesday at 4 p.m.ET.
NFL trades cannot be completed until a player passes a physical (or the acquiring team waives its right to a physical).
The acquiring team has wide latitude in determining whether a player will undergo a physical because each organization weighs medical data differently.A red flag for one may not be for another.The Miami Dolphins were reportedly close to signing Drew Brees in 2006, but their doctors did not approve the quarterback's surgically repaired shoulder.Brees signed with New Orleans and became a Hall of Famer.
The long-term prognosis for Crosby's left knee, 28, as confirmed by his team of doctors and independent consultants, is a concern for the Ravens, team sources told Sports.Crosby underwent surgery in January to repair a torn meniscus in his knee.
Then on Wednesday morning, the Ravens agreed to a four-year, $112 million contract with Hendrickson, the 31-year-old who was set to become a free agent as the new league year begins.Like Crosby, Hendrickson is also coming off a significant injury.He had heart muscle surgery in December.
"It's hard to know without seeing (Crosby's) MRI, but it definitely looks like buyer's remorse," said an executive at another team.
Others found the Ravens' decision more inclusive.
DeCosta said Wednesday that the Ravens were hoping to acquire Crosby and Hendrickson, and that they began talking to Hendrickson after the departure of center Tyler Linderbaum — who agreed to a market-busting, three-year, $81 million deal with the Raiders on Monday.
DeCosta didn't address Crosby's physical impairment or other medical concerns, and he didn't seem concerned about any damage to the team's reputation after reneging on the deal.
"We're in an era of uncertainty and people are going to question that, especially people who don't know me well or the culture of the Ravens and the Ravens organization. I get that," DeCosta said.“I have a responsibility to the Ravens, the community, our fans and (owner) Steve Bisciotti to do what we think is best for the club.
Executives across the NFL voted the Ravens front office first and second in polls conducted by The Athletic in 2024 and 2025. There can be a fine line between smart and deceptive.
Many agents, managers and coaches described Baltimore's cancellation of its trade offer as "bad business," and one prominent agent said NFL trades are a matter of modern business, where relationships and trust are important.One veteran customer said the move was a surprise but "not surprising when you think about who's involved."As the two managers said of the Ravens' reputation for what one said, "being with people".
What was discovered in the Ravens' separate medical evaluation of Crosby shouldn't surprise them, sources said.Details of Crosby's meniscus surgery have been known to the league since mid-February.NFL teams are allowed to exchange medical information during the negotiation process.It's unclear what information about Crosby was shared between the Raiders and Ravens.
A senior executive with another team said the generally transparent collaboration between medical staff on all teams represents "the only place in the NFL where respect is among thieves."
The Ravens still agreed to trade him on terms the manager called "out of character" for them — they've never traded a first-round pick for a player before — despite having at least some knowledge of Crosby's medical risk.
"The fact that they are conservative on a physical level is more consistent with who they are as a group," the president said.
The Ravens have backed out of their deals before.In 2020, they were set to sign defensive tackle Michael Brockers to a three-year, $30 million deal after he suffered an ankle sprain (Brockers had five sacks in 15 games with the Los Angeles Rams that year).In 2018, Baltimore canceled a four-year, $29 million contract with receiver Ryan Grant due to a physical impairment.won the game 35 times.
This is not unique to Crows.The Raiders voided a five-year, $42.5 million contract with free agent O-lineman Roger Saffold in 2014 because of a shoulder injury he suffered during his physical.He played eight more seasons, mostly as a starter.
Teams can also choose to renegotiate the terms if they find something during the physicals — and that usually results in a draft pick and/or money becoming conditional.
DeCosta did not directly answer when asked Wednesday if the Ravens were trying to renegotiate Crosby."At some point, you come to a point where you look at the situation, you just have to make the right decision," he said."It's not always about value."
Tuesday's statement from the Raiders, who blamed Baltimore for reneging on the deal, did not suggest any attempt to set new terms.The Ravens had not released a statement or comment when DiCosta spoke Wednesday night.
A senior executive from another club pointed out that there was no deadline to find a solution after the initial agreement if the clubs were willing to renegotiate after Crosby's death.
In 2017, the trade of left guard Duane Brown from the Houston Texans to the Seattle Seahawks was held up just before the trade deadline because cornerback Jeremy Lane, who was supposed to be compensated for the return, failed to pass a medical in Houston.Lane returned to the Seahawks' lineup, but the parties amended the deal to finalize it before the deadline.Lane and a second- and fifth-round pick.Instead of trading, Seattle sent Brown second- and third-round picks.
After gathering information about Hendrickson's market at the combine to increase their chances of landing a team executive, one team executive said it's highly likely the Ravens will play Crosby and Hendrickson at the same time.This manager believes the Ravens would have preferred to sign Hendrickson without giving up any draft capital in exchange for Crosby, but they can't be sure they'll be ahead of other teams in free agency.
"I can't believe whoever made up the Ravens data, it's better not to have two first picks with Maxx Crosby than Trey Hendrickson to have those picks," he said."I can't believe what I'm saying. I can't believe the review wasn't done at the end of February, the first days of March.
"If they can't get Hendrickson, they're going to trade Crosby in my opinion. They were willing to pay that premium as insurance."
If, in that situation, trading for Crosby was the Ravens' backup option, they might have less urgency to complete his physical, this executive suggested.If the process is dragged into the legal negotiation window, which opens at noon Monday, Baltimore could get a clearer idea of its chances of landing Hendrickson before committing to Crosby.
This approach would not break any rules.The Raiders could also insist on a quick deal.
"They should have been asked to physically work immediately," the executive said.“Because when you go into free agency, you can't live with that uncertainty.
"Normally, both teams have the same level of urgency. But this is a case where it would be a huge advantage for the Ravens to wait and see if they can get Hendrickson."
At the same time, two league sources expressed concern about Crosby, who appears to be the only real victim of the situation.A failed physical can paint the player as damaged goods, even though all teams evaluate medical information differently.Crosby wanted to leave Las Vegas before the end of last season.Now, either the Raiders have to accept a cheaper trade than what they did with the Ravens, or it will stay for the foreseeable future."I'm an invader. I'm back," he wrote on social media.
The Ravens' decision to opt out is an extreme example of the dangers associated with the NFL's legal blackout window — a final reminder that nothing is official until the new league year begins, contracts are signed and deals are finalized.
As one senior team leader said, it's often tied to the body.
"You see these titles are signed," said another group executive."No, no one has signed. Everyone agrees. Nothing is decided until Wednesday, so anything is possible, and they have the right to withdraw for any reason."
In one of the most extreme examples, the Patriots enlisted former commissioner Pete Rozelle to help them undo their 1971 trade for Dallas Cowboys running back Duane Thomas — after Thomas worked out in New England.
"I'm not saying it happened to Baltimore," Afton Bell, the Patriots' GM from 1971 to '72, said by phone Wednesday, but let Crosby get to Baltimore, he's still recovering from an injury. And then someone comes up to you and says like they did to me, "Are you sure you want to pass on that review?"
Then there is only one way out: a failed physical.
Two decades later, Green Bay Packers general manager Ron Wolf spent weeks working on a trade to acquire quarterback Brett Favre from the Atlanta Falcons.
When the sides finally agreed to terms, Green Bay's general manager was over the moon.Wolf also feared that the Falcons would back down if too much time passed.Wolf made the trade official through the league office without a medical.His heart sank when he found out that the Packers' medical staff feared that leprosy would limit Favre to just three or four seasons.
"I'm thinking about getting fired," Wolf said in a 2021 interview.
Wolf won, and Favre set the NFL record for consecutive starts (321, including the playoffs).The risk paid off
This week will be remembered for the trade that did not work out.While some league sources have expressed concern about working with DeCosta in the future, especially during high-profile or high-stakes negotiations, no one believes the situation will have a long-term impact.If a team wants to make a deal that they believe will help them win games, they will.
DeCosta doesn't seem worried about the actual outcome either.He told a news conference that the termination of his contract didn't stop his phone from ringing.
"It doesn't look good for the Ravens," said another veteran official, "but I don't think they care about it."
— Jeff Howe and Deanna Russini contributed to this story
