Report: Saints, Giants in trade talks on former top-5 pick EDGE

Whew. NFL insider Jordan Schultz reports that the New Orleans Saints are among teams in trade talks with the New York Giants on a potential deal for defensive end Kayvon Thibodeaux. NewOrleans.Football's Nick Underhill added that "Tires were kicked back in February" and talks have been going on for months. However, he suggested "the price might have to dip a little to make it happen."

Thibodeaux, 25, was the fifth overall pick out of Oregon back in 2022 but hasn't looked like himself since an 11.5-sack season in 2023. He's totaled just eight sacks over the last two years put together while dealing with injuries and is coming off a career-low 10 games in 2025. Still, the Giants did pick up his fifth-year option for 2026 and he's due a little more than $14 million this season.

And there's the rub. The Saints can't afford to pay their defensive end that kind of money. If they could convince the Giants to pay part of Thibodeaux's salary, that would help, but it would also mean giving up a better pick. And as Underhill said, New York's asking-price may need to come down to get this deal across the finish line. A second-round pick is out of the question. A third rounder may be too rich. But if Thibodeaux could be moved for a fourth rounder, there's good value.

In a worst-case scenario he doesn't pan out and the Saints spent less than they did to draft Jake Haener before cutting him after three years. In a best-case scenario he plays well enough to earn a second contract and is part of the future. And in the middle ground, maybe he plays so well he leaves on a lucrative contract in free agency and the Saints get that pick back as a compensatory selection down the road. It makes sense on paper -- especially for a team that helped turn his career around. Let's see if the Giants agree.