Giants’ Trade for Darren Waller Puts Spotlight Back on Kadarius Toney Deal

The former Raiders tight end joins Daniel Jones. But it’s Las Vegas that ends up with just a late-third-round choice in a bizarre three-team deal over five months.

The Giants made two separate trades with the AFC West, and yet they essentially function as a three-team deal over the course of five months.

In October, New York sent first-round receiver Kadarius Toney to the Chiefs for third- and sixth-round picks. The third-rounder was a compensatory selection Kansas City received for losing Ryan Poles to the Bears, where he was named general manager.

Then, on March 14, the Giants traded said third-rounder (No. 100) to the Raiders, getting tight end Darren Waller in return.

In short, the Giants get Waller and Kansas City’s sixth-round pick (No. 209). The Chiefs landed Toney, and the Raiders get Kansas City’s third-round compensatory pick (No. 100) by way of New York.

So, who wins?

Here's how we graded the trade: 

Chiefs: A-minus

Giants: B-plus

Raiders: C

The Chiefs would certainly do the deal again. While Toney played in only seven regular-season games for Kansas City, he shone in Super Bowl LVII.

Toney caught a touchdown pass to give the Chiefs a 28–27 lead in the fourth quarter over the Eagles. Then, after Philadelphia went three-and-out, Toney recorded the longest punt return in Super Bowl history, going 65 yards to set up another score.

Toney is also locked up for two more years, with Kansas City holding a team option for 2025.

As for the Giants, they walk away with an extra Day 3 pick and a tight end in Waller who, while injury-prone, is immensely talented. He also comes to New York on a four-year deal and is scheduled to make $51.6 million. However, the Giants can cut him at any time after the upcoming season without any dead money.

If Waller pans out, he’s a tremendous value. At 31 years old, he’s missed 14 games over the past two seasons, but in 2020 made the Pro Bowl with 107 catches, 1,196 yards and nine touchdowns. He also gives quarterback Daniel Jones a much-needed threat, with the Giants fielding some of the league’s worst weapons in ’22.

Then there’s the Raiders. Las Vegas general manager Dave Ziegler signed Waller to a three-year, $51 million extension in September, a deal that doesn’t begin until 2024. Incredibly, Waller is already gone after playing in nine games and generating only 28 receptions for 388 yards and three scores last season.

The Raiders are getting a top-100 pick in return, but that’s light considering the Packers were reportedly offering a second-round choice for Waller a year ago.

The bigger concern for Las Vegas is whether it has any coherent plan to fix a franchise that hasn’t won a playoff game since the 2002 season. The Raiders spent lavishly last year, extending slot receiver Hunter Renfrow, edge rusher Maxx Crosby, quarterback Derek Carr and Waller, while acquiring receiver Davante Adams via trade and signing edge rusher Chandler Jones.

While Crosby and Adams were terrific, the rest were not. Through one season, Jones notched 4.5 sacks. Waller is now with the Giants, Carr with the Saints, and Renfrow was hurt much of the year, totaling 36 catches for 330 yards in 10 games.

Ultimately, the Chiefs won the Super Bowl with Toney playing a key role. The Giants are getting a former Pro Bowler on a team-friendly deal. The Raiders are losing an elite playmaker when healthy, and for a late-third-round pick.

Tough to not see Kansas City and New York as winners, with Las Vegas wearing some egg.