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LB Jacob Phillips signed a four-year contract with the Browns on Sunday. (Source: Adam Schefter on Twitter)

Fantasy Impact: Phillips was drafted by the Browns in the third round and will have an opportunity to compete for a starting LB job in 2020. He led the SEC with 113 tackles as a junior last season. Phillips projects to be a backup, but should play a key role on special teams for the Browns in 2020.

The Kansas City Chiefs have waived QB Shea Patterson in light of re-signing veteran QB Matt Moore to a one-year deal. (Source: Field Yates on Twitter)

Fantasy Impact: The former Michigan quarterback was signed as an undrafted free agent this year but won’t stick around for the 2020 season in Kansas City. Instead, the Chiefs will roll with a quarterback room that consists of Patrick Mahomes, Matt Moore, Chad Henne, and Jordan Ta’amu.

Veteran QB Matt Moore is re-signing with the Kansas City Chiefs on a one-year deal. (Source: Terez Paylor)

Fantasy Impact: The veteran is being re-signed as insurance for the new half-billion dollar man Patrick Mahomes. Moore should slot in as the backup for one more season in Kansas City.

Broncos S Justin Simmons has officially accepted his franchise tender for the 2020 season and he is expected to sign it shortly. (Source: Adam Schefter on Twitter)

Fantasy Impact: Simmons has been an effective player on defense for the Broncos over the past four seasons. The former third-round pick in 2016 has played in 58 games, recording 288 tackles and 11 interceptions. Simmons has been holding out for a long-term extension, but the deadline to come to an agreement is July 15. If that doesn’t happen, Simmons will officially play the upcoming season on his franchise tender.

Second-round pick WR Laviska Shenault Jr. out of Colorado signs his rookie contract with the Jacksonville Jaguars. (Source: Field Yates on Twitter)

Fantasy Impact: Head coach Doug Marrone envisions Shenault filling a variety of roles for the Jaguars this season. “You can put him in the backfield, he can play wildcat [quarterback], he can play the ‘F’ tight end,” said Marrone of his new weapon. Shenault figures to be given ample opportunities right out of the gates in Jacksonville and is an intriguing late round add in redraft fantasy leagues. He’s an ever better target for those playing in dynasty leagues.

Fourth-round pick RB Lamical Perine signs his rookie deal with the New York Jets. (Source: New York Jets on Twitter)

Fantasy Impact: Perine was an impactful three-year starter at the University of Florida, totaling 2,252 yards and 19 TDs on 467 rush attempts. He’ll fall behind both Le’Veon Bell and the ageless Frank Gore on the Jets depth chart, but he could have some sneaky value should either Bell or Gore suffer an injury. What’s more, we could see an unhappy Bell traded midway through the season if the Jets fail to show any improvement from last season, which could lead to more touches for Perine. Keep an eye on him in redraft leagues and make him a late-round priority in dynasty leagues.

Fifth-round pick RB Jason Huntley has agreed to terms on a rookie deal with the Detroit Lions. (Source: Jason Huntley)

Fantasy Impact: Huntley is expected to compete with Ty Johnson for a spot behind second-round pick D’Andre Swift and incumbent starter Kerryon Johnson. He’s unlikely to see the field very much in 2020, but he’s got some appeal in deep dynasty leagues.

Lions fifth-round draft pick WR Quintez Cephus has officially signed his rookie contract with the Detroit Lions. (Source: SportsTrust Advisors on Twitter)

Fantasy Impact: The former Wisconsin Badger slipped a little in the Draft after not putting on the best performance at the combine. Nevertheless, Cephus should be targeted in dynasty leagues as he’ll have the opportunity to climb the depth chart quickly in Detroit with Marvin Jones and Danny Amendola becoming free agents after the 2020 season.

Cam Newton has officially signed his one-year deal with the New England Patriots. (Source: Field Yates on Twitter)

Fantasy Impact: Newton is now officially a member of the New England Patriots and will compete to become the starting quarterback right out of the gates. Jarrett Stidham has been in the Patriots system for over a year and will be given every opportunity to prove he’s worthy of the starting gig as well. It will be an interesting training camp in New England to say the least.

The Philadelphia Eagles have signed sixth-round pick WR Quez Watkins out of Southern Mississippi to a rookie contract. (Source: Zach Berman on Twitter)

Fantasy Impact: Watkins is a speedster, running a 4.36 forty at 6-foot-2. He will likely be fighting for a roster spot during training camp, but his wheels make him a potential special teamer in 2020. Keep an eye on Watkins as he learns from DeSean Jackson, a player who he has drawn comparisons to due to his speed and quickness.

Rookie first-round pick OT Jedrick Wills Jr. has signed his four-year, $19.702M deal with the Cleveland Browns. (Source: Mary Kay Cabot on Twitter)

Fantasy Impact: The contract is fully guaranteed for the dominant offensive tackle out of Alabama. Wills will also receive an $11.889M signing bonus. As with all first-round picks, his deal comes with a fifth-year team option. Wills becomes the third top-10 pick to sign his rookie deal and he will likely be called upon early in his career to protect QB Baker Mayfield.

Patriots RB Rex Burkhead has agreed to rework the final year of his contract that drops his base salary from $2.5M to $1.05M in a cap saving move by New England. (Source: Field Yates on Twitter)

Fantasy Impact: Burkhead will earn $550K as a signing bonus instead with $400K available in roster bonuses. The reworking of his contract creates almost an additional $1M in cap space for a team that was tight against the cap to begin with. Burkhead will compete for touches amongst a crowded group of RBs in New England that includes Sony Michel, James White, Damien Harris, and Brandon Bolden. He won’t have much fantasy value heading into the final year of his contract unless other guys get hurt.

The Browns and DE Olivier Vernon have agreed to a renegotiated contract that will turn $15.25M non-guaranteed into $11M guaranteed through a $7M signing bonus. (Source: Field Yates on Twitter)

Fantasy Impact: Vernon will have a base salary of $3.75M with an additional $250K workout bonus. He’ll also have $2M worth of incentives in his contract. He’ll be an unrestricted free agent after this season in Cleveland. Vernon missed six games last year due to injury but has been a very productive pass rusher in his eight-year career when healthy. He’s totaled 55 sacks in 113 games played with the Dolphins, Giants, and Browns.

Updating a previous report and per his agency, Steinberg Sports, Chiefs QB Patrick Mahomes has officially agreed to terms on a 10-year, $503M extension, with $477M in guarantee mechanisms. (Source: Steinberg Sports on Twitter)

Fantasy Impact: The extension will keep Mahomes in Kansas City through the 2031 season. There is a no-trade clause and it’s the first contract in sports history worth a half billion dollars. Mahomes will also have outs in his contract if the guarantee mechanisms aren’t exercised. The historical and lucrative deal was worked in tandem by Chris Cabott and Leigh Steinberg of Steinberg Sports and Entertainment.

RB D'Andre Swift officially his signed four-year contract with the Lions on Saturday. (Source: Ian Rapoport on Twitter)

Fantasy Impact: Swift was selected 35th overall by the Lions in the 2020 NFL Draft and was considered the top back overall. He will join Kerryon Johnson and form a one-two punch in the Lions’ backfield. Swift is currently 27th among all running backs in the latest expert consensus rankings. The 21-year-old has plenty of fantasy upside and Is an excellent RB3 in all league formats.

The Browns signed their third-round pick DT Jordan Elliott to a four-year contract. (Source: Nate Ulrich on Twitter)

Fantasy Impact: Elliott is a 22-year-old out of Missouri who should help bolster the interior of Cleveland's defensive line. He slimmed down entering last season, which helped with some pass rush moves. He was the 88th overall pick back in April.

Bills’ wide receivers Duke Williams and Robert Foster “are going to have a difficult time” making the team’s roster. (Source: The Athletic)

Fantasy Impact: The Bills acquired Stefon Diggs and selected wideouts Gabriel Davis and Isaiah Hodgins In the 2020 NFL draft. The Bills have John Brown, Cole Beasley, Davis, Hodgins and special teams standout Andre Roberts on the depth chart. With the Bills loaded at WR, it remains to be seen if Williams and Foster make the cut. Both wideouts will have a “difficult time making the team without any injuries.” Williams and Foster should draw plenty of interest in the free agent market if either is cut.

First-round draft choice QB Jordan Love out of Utah State has officially signed his rookie deal with the Green Bay Packers. (Source: Green Bay Packers on Twitter)

Fantasy Impact: Love receives a fully guaranteed four-year, $12.4M contract with a signing bonus of approximately $6.6M. It’s the first time under the current rookie contract system that the 26th overall pick received a fully guaranteed contract. There were mixed emotions from Packers players and fans alike when Green Bay used their first-round pick on a quarterback. Aaron Rodgers still has a lot left in the tank, and hasn’t discussed any sort of retirement publicly, so the decision to draft his eventual replacement was questionable. Nonetheless, Love is now under contract for at least four years with the Packers, which leads many to believe that Rodgers will only be with the team for the next 1-2 seasons. Love is not worthy of a roster spot in redraft leagues, but is in consideration as a top-40 QB in dynasty leagues.

Packers 2nd-round draft pick RB A.J. Dillon has officially signed his four-year rookie contract with Green Bay. (Source: AJ Dillon on Twitter)

Fantasy Impact: Dillon is likely to take a back seat to incumbent starter Aaron Jones in 2020, and instead will compete with Jamaal Williams for touches. With Jones in a contract season, Dillon looks to be next in line as the Packers starting RB in 2021, but this season should still be a lot of Aaron Jones. That being said, if you’re going to draft Jones as your RB1 this season, it would behoove you to secure the Packers running game by also taking Dillon in the later rounds as a handcuff.

Third-round draft choice DT Davon Hamilton has agreed to his four-year rookie deal with the Jacksonville Jaguars. (Source: Field Yates on Twitter)

Fantasy Impact: Hamilton will be paid $4.82M over four seasons on the standard rookie deal for a third-rounder. The 6-foot-4, 320 pound interior lineman recorded six sacks his senior season for Ohio State, propelling him into the 3rd-round of the NFL Draft.