The failed Maxx Crosby trade is a reminder that no deal in NFL free agency is truly complete until it has been processed by the league.
On Tuesday night, the Las Vegas Raiders broke the news that a trade sending Crosby, the five-time Pro Bowl edge rusher, to the Baltimore Ravens would not be moving forward. The Raiders alleged in a statement that the Ravens had "backed out" of the agreement reached four days earlier. NFL Network and ESPN were among the outlets to report that medical concerns that arose during Crosby's physical was the catalyst for the dissolution of the deal.
There's plenty to sort out on Wednesday and beyond, so here are the latest updates on the situation:
Ravens GM: 'Gutted' by Maxx Crosby trade falling apart
The Ravens opted to get out of the Maxx Crosby trade, but general manager Eric DeCosta hasn't yet fully moved on.
"Nobody's more upset about this than me," DeCosta said in a news conference Wednesday. "Gutted by it, actually. Big regret for me. But we will move on as a football team."
DeCosta added that after losing center Tyler Linderbaum to the Raiders, the Ravens began envisioning the possibility of pairing Crosby with Trey Hendrickson, whom the team signed Wednesday. But Crosby's medical outlook prevented that possibility from materializing.
NFL Network's Mike Garafolo and Jane Slater reported that the Ravens considered renegotiating the Crosby trade to account for the team's discomfort with the edge rusher's prognosis. Ultimately, however, the team opted to withdraw entirely.
Amid speculation that backing out of the deal sour the Ravens' relationship with other teams and decision-makers, DeCosta said Baltimore's move “hasn’t stopped my phone from ringing.”
Answering the big Maxx Crosby questions
So ... where do we go from here? And how did things get to this point?
With the Maxx Crosby news not yet 24 hours old, there's still plenty to sort out for both teams as well as the league at large.
Here's our look at the five biggest questions still looming after the nixed trade.
Ravens pivot to Trey Hendrickson, secure star pass rusher
With the Crosby deal off, the Ravens had a pressing need to upgrade a flagging pass rush. And they filled it with the biggest name on the open market.
The Ravens early on Wednesday struck a four-year, $112 million agreement with former Cincinnati Bengals defensive end Trey Hendrickson, according to ESPN's Adam Schefter. The Indianapolis Colts and Philadelphia Eagles also had been in the hunt for his services, per The Athletic's Dianna Russini.
Hendrickson, 31, had yet to sign with a team despite being one of the most accomplished players available to teams. Schefter previously reported that his market at the outset of free agency was not what he wanted and he was holding firm. Russini, however, reported that his market had changed within the last 24 hours.
Maxx Crosby back to Vegas ... for good?
For now, at least, Maxx Crosby has returned to the Raiders.
The star edge rusher on Tuesday posted an Instagram reel taken inside a private jet - presumably of Crosby on his way back to Las Vegas. NFL Media's Ian Rapoport reported that Crosby had indeed made it back to Las Vegas, where he plans to continue his rehab at the Raiders' facility. For the time being, his focus is on getting healthy and playing for the Silver and Black, Rapoport reported.
Rapoport also confirmed a report by ESPN's Adam Schefter that multiple teams had reached out to the Raiders in the wake of the trade falling apart, but the timing would make putting a deal together difficult.
Potentially further complicating matters: The Athletic's Dianna Russini reported that teams interested in Crosby believe the Raiders won't come off their asking price of two first-round picks.
Raiders won't go back on free agency deals after failed Maxx Crosby trade
The Las Vegas Raiders won't be further unraveling their free agency moves to date.
After the team's offseason and cap outlook shifted in the wake of the Crosby trade falling apart, the Raiders plan to honor the standing agreements they have with free agents, Sports Illustrated's Albert Breer reported Wednesday.
At 4 p.m. ET, the Raiders can make official their agreements with center Tyler Linderbaum, linebackers Nakobe Dean and Quay Walker, wide receiver Jalen Nailor and edge rusher Kwity Paye, among others.
As confusion reigns regarding Maxx Crosby's prognosis, the surgeon who performed his meniscus repair spoke out.
“Maxx Crosby is doing very well in the early part of his rehab and recovery from surgery to treat a significant meniscus tear and the related stress injury to the bone and cartilage in his knee," Dr. Neal ElAttrache told ESPN. "He is certainly on track in his planned program….he feels very well and is already much improved compared to before surgery."
ElAttrache added that the timing of the trade proved to be a particularly difficult obstacle.
“We truly respect the work of the Ravens staff with Maxx regarding the contract physical exam," ElAttrache said. "We also understand the challenge the staff faces when tasked to provide a future risk assessment based on an evaluation early in the recovery process. This is especially challenging when dealing with an elite player like Maxx considering the level of commitment necessary for a team to obtain him. The timing of this assessment is unfortunate because the apparent risk will lessen as his recovery progresses and his return to performance over the next few months becomes clear."
What happened with Maxx Crosby's physical with Ravens?
It's uncertain what led to the breaking point between the Ravens and Raiders.
In January, Crosby underwent surgery for a meniscus repair after he was sidelined for the final two games of the season, which became a point of contention for him when the franchise shut him down against his wishes.
"Maxx continues to be on track in his recovery and if anything is ahead of schedule according to his surgeon Dr Neal El Attrache," Crosby's agent, CJ LaBoy, wrote on X. "Maxx remains on track to return during the offseason program & will undoubtedly return as the dominant game wrecker he has been these past 7 seasons."
The Athletic's Dianna Russini reported that the Ravens and their medical staff had spoken with ElAttrache before making an offer and were comfortable with Crosby's short-term outlook. The sticking point, however, appeared to be with Baltimore's comfort level in the edge rusher's long-term prognosis.
The Ravens have yet to comment on the matter.
Where could Maxx Crosby land next via trade?
It's not immediately clear where and when Crosby would be shipped off, if at all.
ESPN's Adam Schefter reported Tuesday that the Raiders already have received calls from “several” teams inquiring about Crosby's availability in a potential trade. He added, however, that the team was working toward getting Crosby healthy and having him play for the organization, though he said Las Vegas would listen to additional calls.
With NFL teams needing to be compliant with the league's salary cap by 4 p.m. ET on Wednesday, orchestrating a deal that would fit in with all of a team's other unofficial agreements to date could be complex.
