The proposed trade between the Raiders and Ravens that would send star edge rusher Maxx Crosby to Baltimore was axed Tuesday night, sending shockwaves across the NFL. The Raiders said the Ravens "backed out" of the trade agreement, adding that it would have no further comment at this time. However, Crosby didn’t pass his physical as part of the deal, which couldn’t become official until Wednesday, The Athletic and others have since reported. A five-time Pro Bowler, Crosby ended the 2025 season on the Raiders’ injured reserve with a knee injury before undergoing surgery for a meniscus tear in January. [Maxx Crosby Trade Reaction: From What Might Happen Next to Fans Shaving Heads] With free agency well underway, what does this shocking development mean for the Raiders, Ravens and Crosby? Here are my takeaways: 1. How does this impact Raiders free agency? It could change everything, or not much at all. As of Tuesday evening, Las Vegas had reached agreements with eight free agents (center Tyler Linderbaum; linebackers Nakobe Dean and Quay Walker; defensive ends Malcolm Koonce and Kwity Paye; cornerback Eric Stokes; wide receiver Jalen Nailor; kicker Matt Gay) on deals totaling at least $183 million in guarantees and more than a quarter billion in total contract value. With Crosby back on the Raiders’ roster, at least for now, his $35.7 million cap charge for 2026 is on the team’s books. That impacts Las Vegas’ financial flexibility. Even before the proposed trade to the Ravens, a Raiders team with Crosby had plenty of cap space to work with this offseason. But his sudden reversion to Las Vegas’ roster raises questions about how it can absorb all the deals with free agents it has agreed to since Monday. The new NFL league year, which begins Wednesday at 4 p.m. ET, is when all signings with external free agents and trades can become official. It’s also when all teams must be cap-compliant. Because of this development with Crosby, the Raiders are heading toward a situation where they could hold off on processing at least some of their free-agent deals. But the macro impact might be minimal. It’s difficult to say at this time without the official details of all their free-agent deals being known. 2. What's next for the Ravens? Baltimore could strongly pursue Trey Hendrickson. The Ravens are back to having a jarring hole on the edge, and the 31-year-old Hendrickson — a first-team All-Pro selection in 2024 and four-time Pro Bowler — is a proven pass rusher. The former Bengal played just seven games last season due to injury, but registered at least 14 sacks three times in the four years prior, including 17.5 in both 2023 and ‘24. Hendrickson is the top unrestricted free agent available on FOX Sports’ top 100 free agents, ranking at No. 4 on the initial list. Baltimore could also address its pass-rush need in the draft. With the rollback of the Crosby trade, it gets back its first-round picks in 2026 and ‘27, including No. 14 overall this year. Auburn’s Keldric Faulk, Miami’s Akheem Mesidor and Clemson’s T.J. Parker are all potential options in the first- and second-round range for the Ravens, who didn’t have a player register more than five sacks last season. 3. Potential fits for Crosby? It’s not inconceivable for Crosby to remain with the Raiders in 2026. His discontentment with the team down the stretch of last season is well documented. Its facelift in free agency — plus the expected arrival of Indiana’s Fernando Mendoza as the No. 1 overall pick — could convince him that better days are coming in Las Vegas. Of course, a trade could still materialize. Just because the Ravens were uncomfortable with Crosby’s medicals doesn’t mean another will be. And the Raiders could still be anticipating a post-Crosby future. Playoff contenders with a pass-rush need and premium draft capital are options. The Eagles have four picks in the first two rounds of the draft over the next two years, while the Bears have five with the proposed trade for the Bills' DJ Moore. The Commanders are a team to watch, too. Even with free agent edge defender Odafe Oweh agreeing to terms with the team, Washington has a big pass rush need and the cap space to absorb Cosby's contract. As of Tuesday night, the Commanders have the most cap space in the NFL at $79.8 million, according to Over The Cap. The Cowboys were in on Crosby before the proposed Raiders-Ravens trade and there's speculation they might revisit their pursuit of the star pass rusher, but a source told our Ralph Vacchiano that the current expectation is Dallas will stand pat. The Cowboys have a deal in place for Packers edge rusher Rashan Gary that could become official as early as Wednesday.
