Why tight end Terrance Ferguson is the only draft pick left to sign his rookie contract with the Rams

Why Terrance Ferguson hasn't signed yet

The problem for Ferguson is that the second round is an inflection point in terms of guarantees. Every year, the numbers go up and up by pick, although there isn't that much room for negotiation between teams and rookie players. In 2025, for the first time ever, two second-round picks signed fully-guaranteed deals: Cleveland Browns linebacker Carson Schwesinger and Houston Texans wide receiver Jayden Higgins, the 33rd and 34th pick in the draft. So far, they are the only two second-rounders who have signed their deals.

As the 46th overall pick, Ferguson likely won't have a fully-guaranteed deal, but he and his representation fight for an increase over 2024's numbers. Last year's 46th pick was Jonathon Brooks, a running back for the Carolina Panthers. He signed a four-year, $8.417 million deal, with $6.24 million in fully-guaranteed value (74.13% of the deal).

The second round is a tough area of contention, but it's not anything close to what happened before the rookie-wage scale era. It's normal, and it should be soon solved for everyone involved. These days, it's rare for rookie players to reach training camp (or even mandatory minicamp) without a deal in place.

Trade down

The decision to draft Terrance Ferguson came after an excellent process resulted in the Rams having this early second-rounder. Initially, the Rams didn't have a second-round pick this year after making a trade in 2024 to select defensive tackle Braden Fiske.

This year, they traded down from the end of the first round, with pick 26, to 46 with the Falcons, adding a 2026 first-round pick in return. Los Angeles also sent a third-rounder and received a seventh-rounder in the process.

The Rams won't have a fifth-year option for Ferguson, even though he's their first selection. The mechanism is exclusive for players taken in the first round. After the 2020 CBA, though, that isn't as team-friendly as it used to be, since the amount of money is higher and the option is fully-guaranteed when exercised, after the player's third NFL season.