Lead: The 2025 NFL trade deadline arrives at 4 p.m. ET on Tuesday, Nov. 4, with all 32 teams able to complete player or pick deals before the 2026 league year. The final 24 hours have seen active movement and heavy rumor traffic: the Philadelphia Eagles added multiple veterans this week, and Baltimore landed pass‑rush help in a conditional pick deal. Clubs on both sides of the playoff divide continue to weigh buy vs. sell choices as contenders chase immediate upgrades and rebuilding teams plan for 2026.
Key Takeaways
- Deadline: All trades must be completed by 4 p.m. ET on Tuesday, Nov. 4, 2025; after that teams cannot swap players until the 2026 league year.
- Eagles activity: Philadelphia acquired cornerback Jaire Alexander, running back Michael Carter II and edge rusher Jaelan Phillips this week, with Phillips costing an original 2026 third‑round pick.
- Ravens trade: Baltimore acquired edge rusher Dre’Mont Jones from Tennessee for a conditional fifth‑round pick that could become a fourth, with Jones posting 4.5 sacks, five tackles for loss and nine QB hits in nine games this season.
- Big names linked: Cincinnati’s Trey Hendrickson is reportedly available with the Bengals seeking a first‑round pick; Dallas has discussed Hendrickson, Logan Wilson and Bradley Chubb in trade talks.
- Patriots moves: New England has shipped Keion White and Kyle Dugger and is reportedly open to moving outside linebacker Anfernee Jennings amid schematic turnover.
- Injury and roster pressure: Washington suffered season‑ending injuries to Marshon Lattimore (ACL) and Luke McCaffrey (broken collarbone), increasing the likelihood the Commanders become sellers on expiring veterans.
Background
The NFL’s midseason trade deadline compresses a complex market into a short window, forcing teams to balance present needs against future draft capital. Contending franchises pursuing deeper playoff runs often seek veteran rentals to plug immediate gaps, while teams outside contention weigh returns for aging or expiring contracts. Salary‑cap and contract status matter: many names floated this week—Trey Hendrickson, Jaelan Phillips, Minkah Fitzpatrick—are on expiring deals or carry significant 2026 cost concerns, shaping market value.
General managers with reputations for aggressive midseason moves, notably Howie Roseman in Philadelphia, have been among the most active this week. Conversely, franchises undergoing regime change or roster resets—Arizona and Washington among them—face pressure to convert veteran assets into draft capital. The deadline’s timing (4 p.m. ET, Nov. 4) concentrates conversation, media speculation and last‑minute phone calls into a frenetic final stretch that can reshape playoff landscapes and offseason planning.
Main Event
Philadelphia has been one of the headline actors, adding three potentially immediate contributors in cornerback Jaire Alexander, running back Michael Carter II and edge rusher Jaelan Phillips. The Phillips deal came from Miami in exchange for the Eagles’ original 2026 third‑round pick; the move signals a win‑now approach and a willingness to gamble on a player with proven pass‑rush upside but an injury history. Roseman’s shopping spree is consistent with Philadelphia’s objective to protect a title defense with targeted veteran upgrades.
In Baltimore’s case, the Ravens addressed a clear shortfall by acquiring Dre’Mont Jones from the Tennessee Titans for a conditional fifth‑round pick that could escalate to a fourth. Jones has produced 4.5 sacks, five tackles for loss and nine QB hits across nine games this season, and his 19 pressures (per The Athletic) significantly outpace other Ravens defenders. The pick structure reflects a moderate cost for a team prioritizing immediate defensive improvement.
Across the league, several notable names are in flux. Cincinnati has signaled it would listen on Trey Hendrickson but reportedly wants a first‑round selection in return, a steep price for a soon‑to‑be free agent. Dallas confirmed internal trading activity: Cowboys owner/general manager Jerry Jones said the team had made a trade and left open the possibility of further moves. Meanwhile, the Patriots continue to move veterans who don’t fit the new staff’s plans, and Miami—after trading Phillips—remains linked to potential outbound moves for veterans such as Minkah Fitzpatrick, Bradley Chubb and Matthew Judon.
Analysis & Implications
Philadelphia’s spending pattern reinforces a short‑term tilt: exchanging future draft assets for veterans who can help extend a championship window. Jaelan Phillips offers upside—young, experienced under Vic Fangio in 2023—but carries injury risk after missing extensive time in 2023–24. If Phillips stays healthy, the acquisition could be a low‑cost high‑reward addition; if not, the Eagles will have paid a third‑round pick for a limited rental effect.
Baltimore’s Jones trade is emblematic of a contender prioritizing schematic fit and immediate production over draft capital. The conditional pick structure is a conservative price for a player leading the Titans in pressures and providing a pass‑rush boost. For the Ravens, even a modest uptick in pressure rate could materially influence divisional matchups and postseason seeding, given the premium on disrupting opposing QB rhythm late in the season.
The Hendrickson market illustrates the tension teams face with aging, high‑performing and expiring veterans: sellers demand premium picks (a first‑rounder per multiple reports) while buyers balk at paying top draft capital for players who may not be under contract beyond 2025. Trades that hinge on a player negotiating a new deal typically require both sides to accept risk: the acquiring club must secure commitment, and the seller must balance return now versus potential free‑agent loss later.
Comparison & Data
| Player | From | To | Cost / Notes |
|---|---|---|---|
| Jaelan Phillips | Miami Dolphins | Philadelphia Eagles | Original 2026 third‑round pick |
| Dre’Mont Jones | Tennessee Titans | Baltimore Ravens | Conditional fifth‑round pick (could become fourth) |
| Jaire Alexander / Michael Carter II | Various | Philadelphia Eagles | Acquired earlier in the week (details reported by teams) |
This table highlights confirmed exchanges and known compensation. Many reported inquiries remain unresolved or priced at premium levels; that gap between interest and acceptable compensation is shaping the market as the deadline closes. Teams will weigh immediate roster impact against the opportunity cost of lost draft capital and the 2026 salary implications of any acquired expiring contract.
Reactions & Quotes
Team and media reactions have been swift as deadlines drive decisions and framing. Below are representative remarks and sourcing context.
“We’ve made a trade — it will have him on the field immediately and address some of our shortcomings,”
Jerry Jones, Cowboys owner/general manager (via The Athletic)
The comment underscores Dallas’s intent to use the deadline to solve pressing roster deficits rather than purely to accumulate picks.
“Baltimore added a much‑needed pass‑rush piece in Dre’Mont Jones,”
Jonathan Jones, CBS Sports senior NFL insider
CBS Sports’ reporting framed the Jones deal as a relatively low‑cost fix for the Ravens’ pressure problem, referencing Jones’ season production totals and pressure metrics.
Unconfirmed
- Cincinnati’s exact asking price for Trey Hendrickson varies by report; multiple outlets cite a first‑round demand but no trade confirmed.
- Reports that Buffalo formally escalated talks for Saints WR Chris Olave have appeared, but no transaction or firm offer has been verified.
- Rumors that Miami will move Minkah Fitzpatrick are based on interest reports and contract timing; no definitive trade has been announced.
- Talks about an offseason Kyler Murray trade from Arizona are speculative and framed as a March 2026 possibility rather than imminent midseason action.
Bottom Line
The Nov. 4, 2025 deadline crystallizes two competing instincts across the league: contenders are willing to surrender draft capital for immediate upgrades while non‑contenders and injury‑hit clubs weigh selling veterans to restock for 2026. Philadelphia’s aggressive week and Baltimore’s targeted acquisition show how front offices prioritize different paths to tangible improvement.
In the final hours teams will continue to balance price, contract timing and roster fit. Expect additional smaller exchanges before 4 p.m. ET; however, the market for high‑value, expiring veterans will remain constrained unless a buyer is prepared to also negotiate an extension. Monitor official team releases and league transaction logs for confirmations as deals are filed before the deadline.
Sources
- CBS Sports live tracker (sports news / live coverage)
- The Athletic (sports journalism / reporting and analysis)
- ESPN (sports news / reporting)
- Fox Sports (sports news / reporting)
- NBC Sports (sports news / reporting)