Description: The Panthers officially released their longtime No. 1 wideout Steve Smith on Thursday.
Insight: The 34-year-old's career was revitalized when Carolina drafted QB Cam Newton and he put up 2,568 yards and 11 touchdowns on 152 catches in 2011-12, but he had just 745 yards and four scores on 64 catches (11.6 ypc) in 15 games last season. The Ravens are the favorite to land the veteran, but he's unlikely to carry much fantasy value as a third option behind Torrey Smith and Dennis Pitta. As we just saw for years in Houston, new Ravens offensive coordinator Gary Kubiak's offense heavily features the tight end and No. 1 receiver but not the No. 2 wideout.
Description: Titans coach Ken Whisenhunt said he thinks of Dexter McCluster as more of a running back than a wide receiver, according to the Tennessean.
Insight: McCluster signed with the Titans this week after spending the last four years in Kansas City. McCluster reeled in 46+ catches in each of the last three seasons but had just 20 carries combined the last two after taking 114 rushes for 516 yards (4.5 ypc) in 2011. Whisenhunt was OC of the Chargers last season and may see McCluster as his new Danny Woodhead (106 carries, 76 receptions, 1,034 yards from scrimmage, eight total TDs in 2013). If that's the case, he could have strong fantasy value.
Description: Ted Ginn signed a three-year contract with the Cardinals on Thursday.
Insight: Ginn will return kicks and replace Andre Roberts (signed with the Redskins) as Arizona's third receiver. He had 36 catches for 556 yards and five touchdowns last season, but it's wishful thinking that he'll approach those numbers with the Cardinals.
Description: The Ravens are keeping receiver/return specialist Jacoby Jones.
Insight: Jones signed a four-year deal to stay with Baltimore on Wednesday. His knack for the big play may intrigue some fantasy owners but with just 2,602 receiving yards spread out over seven seasons, Jones doesn't have a high ceiling. Save him for the end of your draft.
Description: According to his agent, Steve Smith has played his last game with the Panthers. SOURCE: Associated Press
Insight: Carolina is trying to trade him, though that could be difficult given Smith's age (34) and his $7 million salary. We're guessing he'll be cut sometime in the next few days. When that happens, look for the Buccaneers and Raiders to be among the teams interested.
Description: Bengals wideout Andrew Hawkins has agreed to a four-year offer sheet with the Browns. SOURCE: Nate Ulrich, Akron Beacon Journal
Insight: Now Cincinnati has ten days to match Cleveland's offer. Hawkins is likely to be dealing with a rookie quarterback in Cleveland, which is always a risk. He'll probably go undrafted in most fantasy leagues.
Description: The Cowboys cut Miles Austin on Tuesday. SOURCE: Dallas Morning News
Insight: The quest for cap space continues for Dallas. This move frees up about $5.5 million. Perhaps the Cowboys will use some of that money to bring back DeMarcus Ware on a more affordable deal. Austin's fantasy value is at an all-time low.
Description: Washington has retained wide receiver Santana Moss on a one-year deal. SOURCE: NBC's Pro Football Talk
Insight: Moss (42 catches, 452 yards, 2 TD in 2013) is nearing the end of his career and can no longer be relied on for consistent fantasy production. The Andre Roberts signing only pushes him further down on the team's depth chart.
Description: Wide receiver Andre Caldwell will return to the Broncos after agreeing to a two-year deal, according to Ian Rapoport of NFL.com.
Insight: Caldwell caught 16 balls for 200 yards (11 over the final three games) and could move up the depth chart if Denver doesn't bring in a big name to replace Eric Decker. Anyone catching balls from Peyton Manning has a chance to be fantasy worthy.
Description: Former Chiefs wideout Dexter McCluster has agreed to a three-year deal with Tennessee, according to ESPN's Adam Schefter.
Insight: A Pro Bowler last season, McCluster is probably one of the more versatile talents in the league. He should see work at wideout, halfback and on special teams next season. McCluster's deal could be worth up to $12 million though only $4.5 million of it is guaranteed.
Description: Andre Roberts is headed to Washington on a four-year, $16 million deal. SOURCE: Mike Jones, Washington Post
Insight: Today was a big day for the team's receiving corps as Washington also re-signed Santana Moss. Roberts (471 yards, 2 TD in 2013) should be the starter opposite Pierre Garcon with Moss functioning as a situational receiver when the Redskins line up three or four wide.
Description: Longtime Panthers receiver Steve Smith suddenly finds himself on the trading block. SOURCE: Ian Rapoport, NFL Network
Insight: It appears Smith's 14-year tenure in Carolina may be coming to an end. If teams are hesitant to trade for Smith, there's a good chance the Panthers will wind up cutting him. Smith is only a year removed from a 1,000-yard season and could make an immediate impact if he finds the right situation.
Description: The Jets have released wideout Santonio Holmes.
Insight: Holmes had just 23 receptions and one touchdown in 11 games last season, though he did average 19.8 yards per catch. His time in New York was a complete failure compared to his production in Pittsburgh.
Description: The Patriots have every intention of re-signing Julian Edelman when free agency begins later this week. SOURCE: Mike Giardi, Comcast Sportsnet New England
Insight: Edelman was the Pats best receiver last season and could be again next season depending on the health of Rob Gronkowski. It would be surprising if Edelman left, though the Pats did low-ball Wes Welker in free agency last offseason. New England would also like to keep Pro Bowl cornerback Aqib Talib. It will be interesting to see if the Pats can afford both of them.
Description: New Orleans has released wide receiver Lance Moore.
Insight: Moore produced nothing in the way of trade interest because of a sizable salary, so the team let him go. He was always a Drew Brees favorite in crunch-time, but the Saints have a number of young talented receivers on their roster. Kenny Stills, in particular, could be primed for a big season.
Description: The Bears have decided not to pursue Devin Hester in free agency. SOURCE: NFL Network
Insight: Hester never cut it as a receiver and it looks like he's going to be used exclusively on special teams wherever he ends up. Despite being arguably the greatest return man in NFL history, Hester isn't a fantasy option.
Description: Cleveland has released troubled wideout Davone Bess.
Insight: Bess (42 catches, 362 yards, 2 TD in 2013) was just too much baggage for the rebounding Browns to handle. His arrest back in January was likely the last straw. It could be difficult for the 28-year-old to find work if teams think he's unstable.
Description: As expected, the Eagles have released veteran wide receiver Jason Avant.
Insight: There were just too many mouths to feed in Philadelphia's crowded offense. Avant (38 catches, 447 yards, 2 TD in 2013) will earn a roster spot somewhere this offseason, though we doubt he'll have any fantasy value.
Description: Philly.com's Jimmy Kempski hears the Eagles could be open to trading Pro Bowl wide receiver DeSean Jackson.
Insight: That does seem like a possibility now that Philadelphia has gone out of its way to re-sign Riley Cooper and Jeremy Maclin. Obviously, Nick Foles would take a major fantasy hit without his best receiving weapon. We'll have to see how this one plays out.
Description: Jeremy Maclin will stay with the Eagles after agreeing to a one-year, $5.5 million deal. SOURCE: Adam Schefter, ESPN
Insight: Maclin missed all of 2013 after tearing his ACL, but he should be fine for the start of next season. With Riley Cooper also coming back, the 25-year-old is unlikely to match the 122 targets he saw in 2012.
Description: The Eagles signed Riley Cooper to a five-year, $25 million contract Thursday. The contract includes $10 million in guaranteed money. SOURCE: Adam Schefter, ESPN
Insight: Cooper had some off-the-field issues last offseason after being filmed using a racial slur at a concert, but the team decided to keep him and he ended up with 47 catches, 835 yards and eight touchdowns. He had 742 yards and seven scores on 39 catches in 11 games after Nick Foles made his first start. However, his fantasy value may take a hit if the team re-signs Jeremy Maclin, who missed all of last season with a torn ACL.