The Patriots and Falcons settled some deals Monday morning ahead of the start of the legal manipulation window when the Falcons agreed to acquire tight end Jonnu Smith for a seventh-round draft pick, according to a league official with knowledge of the transaction.
Why they made the move
The Patriots had been secretly hoping to get out of the last half of Smith’s four-year, $50 million contract, but it seemed impractical to let him go due to cap restrictions, which were a by-product of last year’s restructuring. However, the trade reduced the cap space by $4.4 million while the Patriots absorbed $12.8 million in dead money. It wasn’t ideal, but that was about the best it would get.
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The Falcons have reunited Smith, 27, with head coach Arthur Smith as the pair were together during Jonnu Smith’s prime seasons with the Titans of 2017-20. While Smith struggled to muster consistent stat production with the Patriots, he was still a worthy blocker and he should help the Falcons open up other opportunities for rising star Kyle Pitts.
Commercial quality (Falcons): B-plus
The Falcons will restructure Smith’s contract, which has two years and $22.8 million left. Pending the final financial details, this grade could approach the A category.
The market for experienced tight ends is thin, and Smith likely offers the Falcons more upside than their other options. Smith caught 114 passes for 1,302 yards and 16 touchdowns in four seasons with Arthur Smith and the Titans; Their last two seasons together were far more productive than Smith’s time in New England.
And again, if Smith becomes more of a stepping stone for Pitts, that’s an even bigger win.
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Trade Grade (Patriots): B-minus
Smith’s move seemed highly unlikely, so the Patriots get high marks for that element of the transaction. We’ll see what happens with the draft pick, but the $4.4 million in cap relief was an unexpected win.
Still, it doesn’t overshadow the Patriots’ touch at the signing, given that they never got it working with the catch-and-run designs that were in the plans — and that Smith did so well in Tennessee. Smith had 55 total catches for 539 yards and a touchdown in 30 games with the Patriots.
Smith featured heavily on offense in his first offseason with the Patriots, but injuries and inconsistencies slowed progress, and he never got on as quickly as the Patriots intended during their 2021 offseason spending bonanza.
(Photo Cooper Neill / Getty Images)