The deal is worth “up to” $6 million. Going on 33, Lockett is no longer a needle-mover following several seasons of decline in Seattle, but he does help deepen one of the league’s worst receiver corps ahead of Thursday’s expected addition of new franchise quarterback Cam Ward. Held under 1,000 yards each of the past two seasons, Lockett should not expect his WR3 fortunes to revive under the rookie quarterback. This is a classic move that could be more impactful in real life than fantasy. A leader with a decade of experience, Lockett will supply a sounding board and sure pair of hands in Nashville.

When asked about the possibility of a reunion, Schneider said he told Lockett to “go out and see what’s shaking (on the market), and we’ll stay in touch.” Lockett, 32, is coming off his least productive season since 2017 and hasn’t surpassed 1,000 yards since 2022. While he can still help a team, there’s no doubt the 10-year vet is on the downturn of his career. Any team that pursues him will likely do so with a fringe WR2/WR3 role in mind, which may not lead to a level of production that looks too different from last season. A reunion with the Seahawks may prove to be the best thing for Lockett, but he’ll have a chance in the coming days to test his value on the market to see how teams view him.

Lockett has been a face of the franchise for a decade, but his contract was completely untenable for the Seahawks. He had a cap hit of nearly $31 million for 2025 before being released. The move nets Seattle $17 million in cap space and leaves them with a dead cap hit of $13.9 million. At 32 years old and coming off a down year that saw him record a measly 600 yards, Lockett will likely be stuck with a one or two-year deal in free agency. He is best suited to part-time WR3 duties on his next team.

It wasn’t exactly a glowing endorsement, in other words. Lockett turns 33 in September and is due a $30.8 million cap figure in 2025. Releasing Lockett would save the Seahawks $17 million against the salary cap. That cap number is untenable for a receiver who wasn’t targeted more than five times in a game after mid-October. It’s possible the Seahawks work out a paycut for Lockett, but if not they will likely move forward with Jaxon Smith-Njigba as the main cog of their passing game.