The Raiders have already lived through one ugly trade collapse this offseason, so when the Broncos backed out of a deal for Daiyan Henley, it had to feel familiar in the worst way. Baltimore had previously walked away from a blockbuster arrangement with Las Vegas involving Maxx Crosby and two first-round picks, and that episode clearly still lingers.
This one hit the AFC West after Tuesday’s trade deadline had already passed and the league had processed the transaction wire. The deal on the books had Los Angeles sending Henley to Denver for a fourth-round pick in 2027 and a fifth-round pick in 2028. Then, on Wednesday evening, the Broncos announced on social media that they were backing out.
For the Raiders, the strange part is that the collapse looks bad for both teams. Denver had already paid the price of looking like it was going all-in, only to reverse course after the deadline.
The explanation making the rounds, according to NFL Network’s Ian Rapoport, is a failed physical. That’s a tough thing to challenge, but it still feels off for a player who has been available as often as Henley has.
He has played in every game this season, every game but one over the last three years, and has missed just three in his career.
From Las Vegas’ perspective, though, the bigger point is simple: the Broncos didn’t get better. They were in a window to contend and needed linebacker help badly, maybe more than anywhere else on the roster.
Henley fit that need. He wasn’t an All-Pro, but he was more valuable than a couple of Day 3 picks, and Denver’s decision to pull the plug leaves it empty-handed at linebacker after having already committed to the move.
That’s the kind of outcome the Raiders can live with. Nobody in the building wants division rivals getting stronger, and a rival making a bad decision is always worth enjoying in Silver and Black.
Denver is 7-2, but other AFC contenders made meaningful moves at the deadline. The Broncos did not, and that matters.
The Chargers, meanwhile, came out of the deadline looking even worse. At 0-8, they had every reason to sell off valuable pieces and stack draft capital for the future.
Instead, they moved Henley toward a division rival and then watched the deal fall apart. They didn’t get picks for veterans on expiring deals like Khalil Mack, Quentin Johnston or Donte Jackson, and they didn’t make a bigger move involving Tuli Tuipulotu or Derwin James.
So when the dust settled, Los Angeles had essentially stood still. That’s a brutal result for a team with nothing to salvage in the present and plenty of work to do for the future.
It also left a team captain alienated, with his social media post after the trade was cancelled underscoring the mess. And if Henley leaves this offseason, the Chargers will get less for him than they would have gotten now.
For the Raiders, there’s still the sting of what happened with Crosby and Baltimore. But in this case, the collapse hurt both the Broncos and the Chargers. That’s enough reason for Las Vegas to smile.
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Head coach Klint Kubiak said the Raiders will stick with their offensive approach with Mendoza under center, which says plenty about how they want to handle the transition. It also sets up a revealing first test for the rookie, because the team is not easing him in with a scaled-back plan, and the matchup waiting for him should tell a lot about how ready he is for the speed and demands of the league. [Read more 🡒]