The NFL trade deadline was on Tuesday at 4 p.m. ET. The last-minute nature welcomed a flurry of activity around the league, including one unforeseen blockbuster. Several postseason contenders loaded up ahead of the playoffs, while rebuilding franchises took advantage to load up on draft capital.
We've identified five winners and losers from the NFL trade deadline.
Winner: New York Jets
The New York Jets just showed the league what fully committing to a teardown rebuild looks like. General manager Darren Mougey sent shockwaves around the NFL by trading cornerback Sauce Gardner to the Indianapolis Colts in exchange for 2026 and 2027 first-round picks and wide receiver AD Mitchell. Mougey then doubled down by sending defensive tackle Quinnen Williams to the Dallas Cowboys for a 2026 second, 2027 first, and defensive tackle Mazi Smith.
The 1-7 Jets are now equipped with five first-round picks across the next two drafts. If they don't earn the No. 1 overall selection in the 2026 NFL Draft, they've positioned themselves with enough capital to trade up for Ty Simpson, Fernando Mendoza, or Dante Moore.
Winner: Seattle Seahawks
The 6-2 Seattle Seahawks are the most underrated team in the NFL. Perhaps they'll start getting the recognition they deserve after absolutely decimating the Washington Commanders on primetime in Week 9. Veteran general manager John Schneider certainly believes in his squad. Schneider traded for New Orleans Saints wide receiver Rashid Shaheed by sending them two late-round 2026 picks prior to the deadline.
Shaheed is an outstanding fit in Seattle's offense, playing for offensive coordinator Klint Kubiak in New Orleans last year. Furthermore, Cooper Kupp is currently sidelined by injury, placing fifth-round rookie Tory Horton in the WR2 spot. Shaheed will bring an element of explosiveness opposite Jaxon Smith-Njigba.
Winner: Miami Dolphins
The Miami Dolphins fired general manager Chris Grier midweek. They are in full-blown rebuild mode under interim general manager Champ Kelly. The Dolphins did well to trade pass rusher Jaelan Phillips to the Philadelphia Eagles for a 2026 third-round pick.
Phillips is an effective defender when healthy (caveat). He's also on an expiring contract, and the Dolphins were unlikely to re-sign him. Getting draft-pick compensation for Phillips now was the right move. For the Eagles, he could realistically solve a pass-rushing problem that has reached desperation levels in recent weeks.
Loser: Dallas Cowboys
The Dallas Cowboys are 3-5-1 following Monday's disappointing primetime loss to the Arizona Cardinals. Despite that, Jerry Jones couldn't help himself. The Cowboys acquired Williams from the Jets, in addition to veteran linebacker Logan Wilson from the Cincinnati Bengals.
Were the losing Cowboys positioned to part with two premium picks in the 2026 and 2027 drafts? The capital they acquired for 26-year-old superstar Micah Parsons was partially used to get a 28-year-old Williams. The compensation for Wilson was simply a seventh-round pick, but the Cowboys are delusional for believing he'll help solve their defensive woes. Jones continues to make dysfunctional decisions out of the blue.
Loser: Indianapolis Colts
The Colts executed Tuesday’s biggest blockbuster, the aforementioned deal for Jets cornerback Sauce Gardner in exchange for two first-round picks. It was a total stunner considering current Jets GM Darren Mougey signed Gardner to a four-year, $120.4 million extension in July. Two future top-32 selections were simply too much for Mougey to decline.
The 7-2 Colts remain in a three-way tie for the best record in the NFL. Gardner is an exciting talent who is rarely available via trade, but this all-in deal has blow-up-in-your-face potential if Indianapolis disappoints in the postseason and/or Daniel Jones regresses at quarterback. Chris Ballard’s faith in the Colts’ chances of winning a Super Bowl may prove misguided.