Traded to Giants

The Raiders are trading Waller to the Giants in exchange for the 100th overall pick in the 2023 NFL Draft, Jordan Raanan of ESPN.com reports.

Even if he can't regain his 2019-20 peak form, Waller should be a huge upgrade for a Giants offense that got less than 600 yards out of all its tight ends combined last season. The 30-year-old had only 388 yards in nine games during an injury-riddled 2022, but he topped 60 yards per game in three straight seasons before that and remains one of the NFL's better athletes at tight end. The relatively light trade compensation can at least partially be explained by Waller's contract, which comes with base salaries of at least $10.5 million for each of the next four seasons, though the Raiders have already paid out most of his guarantees. This is excellent news for QB Daniel Jones and a huge blow to the 2023 fantasy prospects of second-year TE Daniel Bellinger. The Raiders, meanwhile, are set to rely on their wide receivers to carry the passing game after reaching terms with Jakobi Meyers earlier Tuesday.