Las Vegas traded Davante Adams to New York on October 15,…

The transaction terms are well documented. Las Vegas sent Davante Adams to New York on October 15, 2024 for a conditional 2025 third-round pick, with the Jets assuming the remainder of his salary. NFL reporting established that the selection would become a second-rounder if Adams made first- or second-team All-Pro or if he was on the active roster for the AFC Championship Game or Super Bowl. Neither condition was met, so the Raiders received the third-round choice, which settled at No. 92 overall. That detail matters because the legacy row correctly identified the conditional structure but framed Jalen Milroe as if he were the Raiders' outcome from the pick. Las Vegas never made the No. 92 selection.

Adams gave New York a productive 11-game run. The Jets' own release announcement credits him with 67 receptions, 854 yards and seven touchdowns after the trade, and NFL records show the same line. He averaged more than 77 receiving yards per game for New York and remained a high-end scoring threat. The limitation is organizational rather than individual: the Jets did not turn that production into a postseason run, the condition never escalated, and New York released Adams on March 4, 2025. The trade therefore bought one strong partial season rather than a multi-year receiving asset.

Las Vegas converted the pick instead of using it. The Raiders' 2025 draft-order page states that the club traded No. 92 to Seattle for Geno Smith, and the Raiders' transaction announcement confirms that exact price. Smith then started 15 games for Las Vegas in 2025. Official Raiders and NFL statistics credit him with 302 completions on 448 attempts, 3,025 passing yards, 19 touchdowns, 17 interceptions and an 84.7 passer rating. The production was mixed and came during a 3-14 season, so TradeVerdicts should not treat the quarterback acquisition as a transformational success. Still, a third-round asset was converted into a full season of starting quarterback play at the game's most important position.

The asset chain continued one step further. In March 2026, Las Vegas traded Smith plus pick No. 228 to the Jets for pick No. 208. The Raiders therefore did not retain Smith beyond one season, but they also did not end the chain with no residual value. The final exchange amounted to a 20-slot improvement from the seventh round into the sixth while sending the veteran quarterback back to New York. Because the Raiders had to include No. 228, the No. 208 selection should not be treated as a wholly separate premium return; it is simply evidence that the original No. 92 asset still produced some value after Smith's 2025 season.

The hindsight result is best scored as an Even Trade. New York paid a third-rounder for 11 games of excellent receiver production, while Las Vegas turned that same third-rounder into 15 starts and 3,025 passing yards from Smith plus a modest later draft-position improvement. Neither club converted the move into a winning season or retained the centerpiece long term. B grades for both sides reflect useful short-term football value at a reasonable acquisition price without overstating the lasting impact.