Former Baltimore Ravens tight end Isaiah Likely has agreed to a three-year, $40 million deal with the New York Giants, league sources said. The deal can be worth up to $47.5 million.
The 2022 fourth-round pick of the Ravens was ranked No. 33 among The Athletic’s top 150 free agents and second among tight ends.
The 25-year-old has been a serviceable No. 2 tight end behind Baltimore’s franchise receiving leader, Mark Andrews. Likely has played in 63 games over four seasons, making 26 starts. Over the course of his career, he has recorded 135 receptions for 1,568 yards and 15 touchdowns.
Likely has also been effective after catching the ball. He has totaled 740 yards after the catch in four seasons. Likely’s 15 touchdowns are the second-most by a Ravens player since 2022, behind Andrews’ 27.
How he fits
It’s not hard to envision how Likely will fit since he spent his first four seasons playing for Harbaugh in Baltimore. The 6-foot-4, 245-pound tight end was a receiving complement alongside top tight end Mark Andrews with the Ravens. The Giants will be looking to form a similar, younger tandem with Likely and Theo Johnson. It’s not a surprise that Harbaugh turned to his past as he started shaping the future of his roster in New York.
2026 roster impact
When Harbaugh was speaking about slot receivers at the combine, he mentioned Likely unprompted. Likely’s arrival signals a shift in the Giants’ identity. After having 5-foot-8, 185-pound Wan’Dale Robinson in the slot for the past four seasons, the Giants will be getting much bigger as they lean into more two-tight end sets with Likely and Johnson. Likely is essentially a big wide receiver, as he was in-line on only 11 percent of his snaps last season, compared to 73 percent of his snaps in the slot.
Cap update
The Giants entered Monday with roughly $14 million in cap space, according to Over the Cap. But the cap is extremely fluid at this time of year, especially with the Giants having easy avenues to open more space through cuts or restructures. Likely’s contract is worth a base value of $14.3 million annually, but the 2026 cap hit will likely be lower than that. It remains to be seen if the Giants are going to shift to using void years under Harbaugh and new cap specialist Dawn Aponte — that’s another way to maximize their money in free agency.
Dan Duggan’s takeaway
It wasn’t clear if Likely would choose to follow Harbaugh to New York after having a limited role for four seasons in Baltimore; Likely never topped 42 catches or 477 yards while being the No. 2 tight end behind Andrews. But, clearly, Harbaugh has bigger plans for Likely in New York, and $40 million convinced the 25-year-old to follow his former coach. With a weak free-agent wide receiver class, Likely could be a shrewd pivot as the Giants needed to upgrade Jaxson Dart’s weapons.
