The Bengals were poised to cut Joe Mixon as of Monday. Then the Texans came calling with an offer.
It was reported Cincinnati would be parting ways with Mixon in an effort to save cap space. But after the Texans lost Devin Singletary to free agency and missed out on free agent running backs like Aaron Jones, Austin Ekeler, D'Andre Swift, Josh Jacobs, Tony Pollard and Saquon Barkley, they evidently felt pressure to ensure they landed a standout back to pair in the backfield with quarterback C.J. Stroud.
Mixon was expected to hit the market at a difficult time as several starting spots had been filled. Had Mixon hit the market, he and Derrick Henry would have been the top options available. Mixon never had that chance, and Henry eventually found a team, reportedly agreeing to a deal with the Ravens on Tuesday.
How did each team do in the trade? Here's a look at how we saw the deal shaping up.
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Joe Mixon trade grades
Texans grade: B
- Texans receive: RB Joe Mixon
This was a move out of desperation. The Texans were believed to be in on running backs like Barkley and Jacobs, but missed out on both. They could have waited to try and sign Henry or sign Mixon as free agents, but would also run the risk of missing out on both. So Houston decided to step in before Cincinnati could release him.
The Texans have plenty of cap space with Stroud on a rookie contract, allowing them to afford Mixon at his $5.75 million salary and $6.1 million cap hit.
There's value to acquiring a running back like Mixon. He should be an upgrade over Singletary even if Mixon's ability is trending downward, and Houston won't be paying top dollar on him like it would have for Barkley or Jacobs. Running back is among the weaker positions in the 2024 NFL Draft, and the Texans opted for Mixon over an unknown, younger commodity.
Mixon should be a solid fit for the Texans. He's a veteran running back who has played in the Super Bowl — with a touchdown pass to boot — who still has great vision and can be a solid receiver in the passing game.
Still, there are reasons to question why the Texnas aggressively pursued Mixon. For starters, he was going to be on the open market. Houston still could have put together a compelling offer to try and lure Mixon away from other teams, and their status as a contender with a need for a starting running back would have made them a compelling landing spot.
Then there's concern for a dropoff from Mixon. He's not much of a pass protector and he's lost a step of the breakaway speed he had earlier in his Bengals' career. The 27-year-old averaged 4 yards per carry in 2023. That's heavily inflated by a 7.9 yards per carry average against the Browns' backups in Week 18. Prior to that contest, he averaged 3.8 yards per attempt.
Mixon lacked the ability to explode away from defenders as he's done in the past. He averaged only 2.51 yards after contact per attempt (2.41 before Week 18), which was his lowest clip since his rookie season, according to PFF. He forced 53 missed tackles in 2021. He's forced just 57 since then. He had 14 runs of at least 15 yards in 2021, and 15 over the past two seasons.
Mixon is absolutely a bell-cow running back capable of shouldering a heavy load. Over the past three seasons, only Henry (848), Najee Harris (834) and Jacobs (790) have carried the ball more than Mixon (759). He's proven durable and able to weather double-digit carries week in and week out. But how much is left in the tank after he appeared to lose a step in 2023?
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Bengals grade: A
- Bengals receive: 2024 seventh-round pick
The Bengals were fully prepared to accept nothing but a dead cap hit for off-loading Mixon. Cincinnati was prepared to just eat $2.75 million in dead cap to free up $6.1 million in space.
All that will still happen. The Bengals will take on a $2.75 million dead cap hit for trading him and free up that space. But now they're going to get something, likely a late-round draft pick, in return.
It's been clear for some time Cincinnati had intentions of parting with Mixon. He has consistently struggled in pass protection on third downs, which often led to him being benched for backup Samaje Perine before Perine left in free agency. Down the stretch of last season, the Bengals received more explosive play from rookie Chase Brown, who flashed impressive speed that had been missing from Cincinnati's backfield.
Mixon fit the Bengals needs when he was first drafted and even when he signed his four-year, $48 million extension in 2020. Cincinnati was a rebuilding team that faced questions at quarterback and needed someone who could keep the ball moving. He did that better than almost anyone in team history, finishing his Bengals career third in team rushing yards at 6,412 with four 1,000-yard seasons.
But the Bengals are moving in a different direction with the offense. It's now more important to protect the quarterback and provide explosive speed out of the backfield. Brown and free-agent signee Zack Moss will bring more speed to the Cincinnati running game, while third-stringer Trayveon Williams should be the third-down back and protect Burrow on crucial pass plays.
Cincinnati had the cap room to hold onto Mixon should it have desired. But that $6.1 million could be valuable to address other areas of the team, like it did when signing pass-catching tight end Mike Gesicki on Tuesday morning. After adding Moss to pair with Brown and signing Gesicki, the Bengals can now turn the rest of their hefty cap space to improving areas of need like defensive tackle and offensive line.
The Bengals were prepared to let Mixon walk for nothing, which was already the smart move for them considering their continued movement toward a more pass-heavy offense. That they received anything more than cap space in exchange for Mixon is a bonus.
