The New York Jets are officially releasing quarterback Aaron Rodgers, as expected, on Wednesday, according to ESPN's Adam Schefter. The Jets will take on $49 million in dead money with the move as a post-June 1 cut, which means they'll carry his $21 million salary cap hit until June 1, at which point it will drop to $14 million. It saves the Jets $7 million, but then they will have to absorb a $35 million dead-cap hit in 2026. The Jets already informed the 41-year-old future Hall of Famer a while ago that they'd be moving on from him after two disappointing seasons in 2023 and 2024, and Rodgers is reportedly deciding between the Pittsburgh Steelers and New York Giants as he looks to play for one or two more years. The Minnesota Vikings could also become an option. The Steelers could be the most attractive for Rodgers, especially after they traded for receiver DK Metcalf last weekend.

The Denver Broncos are signing two-time Pro Bowl tight end Evan Engram (shoulder) to an undisclosed two-year deal on Wednesday, according to ESPN's Adam Schefter. Although Engram ended the 2024 season on Injured Reserve due to a shoulder injury, he gives the Broncos the help at the position that they've been looking for in recent seasons. The 30-year-old former 23rd overall pick by the New York Giants in 2017 out of Mississippi played in just nine games in 2024 and had 47 catches, 365 yards and one touchdown on 64 targets. However, he had a career year in 2023 with a 114-963-4 line on 143 targets in 17 games (15 starts). Depending on how he bounces back from his shoulder injury and how he takes to head coach Sean Payton's offense, Engram could be second-year quarterback Bo Nix's No. 2 target behind receiver Courtland Sutton, giving him plenty of bounce-back potential as a TE1 in fantasy.

Free-agent quarterback Russell Wilson is scheduled to fly to Cleveland on Wednesday night to visit with the Browns on Thursday, sources tell ESPN's Adam Schefter. Wilson will then fly to New York on Thursday night to visit with the Giants on Friday. The Steelers were unable to re-sign Justin Fields -- he landed a two-year deal with the New York Jets -- but it appears Pittsburgh is now more interested in signing Aaron Rodgers than running it back with Wilson. That leaves the Browns and Giants as the most likely landing spots for the 36-year-old signal-caller, who threw for 2,482 yards, 16 touchdowns and five interceptions in 11 starts for the Steelers in 2024. He's become more of a low-end QB2 in fantasy at this point in his career, but a move to Cleveland, where he'd competing with Kenny Pickett for the starting job, would be the least attractive from a fantasy perspective.

The Indianapolis Colts and free-agent running back Khalil Herbert reached an agreement on an undisclosed one-year deal on Wednesday, according to ESPN's Adam Schefter. Herbert began the 2024 season with the Chicago Bears and had only eight carries for 16 yards and a touchdown in six games before being traded to the Cincinnati Bengals, where he finished with 28 carries for 114 yards and no touchdowns in eight games behind Chase Brown. Now in Indianapolis, the 26-year-old will have a similar backup role to Jonathan Taylor. Because he's unlikely to see much volume unless Taylor misses time with an injury, Herbert will mainly be a handcuff in deeper leagues for those that draft Taylor. The former sixth-rounder (217th overall) by the Bears in 2021 has averaged 4.8 yards per carry on 400 rushing attempts for 1,905 yards and nine TDs in his four years in the NFL.

Cleveland Browns quarterback Bailey Zappe has been non-tendered by the organization on Wednesday. Zappe will now hit the open market after making one start with the Browns last season. The 25-year-old is a former 4th round pick of the New England Patriots from 2022. Zappe has thrown for 2,223 yards with 12 touchdowns and 14 interceptions between 15 games (nine starts) between the Patriots and Browns. He will look to catch on elsewhere as a backup option.