The New England Patriots found a trade partner to free up salary cap space right before the NFL’s free agency open tampering period.

The Patriots are trading tight end Jonnu Smith to the Atlanta Falcons for a seventh-round pick, NFL Media’s Ian Rapoport reported Monday morning. The move frees up $4.4 in salary cap space, though New England takes on $12.8 million in dead money.

The Patriots take on so much dead money because they restructured Smith’s contract last year.

Smith signed a four-year, $50M contract with the Patriots during the 2021 offseason. He caught just 55 passes for 539 yards with one touchdown in two seasons with New England. He reunites with his old offensive coordinator from the Tennessee Titans, Falcons head coach Arthur Smith.

The Patriots still have tight end Hunter Henry on their active roster and Matt Sokol and Scotty Washington signed to future deals. This move opens up a need for the Patriots to either sign or draft another tight end. This is a loaded class of tight end prospects, though New England has other needs on its roster.

The Falcons are expected to re-work Smith's contract, per Rapoport. He's due a base salary of $10M in 2023 and $11M in 2024.

Smith is an athletic tight end and accomplished blocker. New England attempted to simplify its offense last season to benefit Smith and another free-agent addition from 2021, Nelson Agholor. It didn't work for either player, and now Smith has been traded and Agholor is a free agent unlikely to be retained.

Henry could have a big season if he no longer has to share snaps with another high-priced tight end. The Patriots paid big money for Henry and Smith in the same offseason, and Henry has worked out better.

Smith is a cautionary tale for any team who's signing free agents this week. The Patriots wound up finding a trade partner for him, but they still paid over $25 million for him to play just two seasons in New England.

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