Las Vegas will receive the No. 100 overall pick in the April 27-29 draft, at the end of the third round.
The Waller move comes after the Raiders cut quarterback Derek Carr last month he is now with the New Orleans Saints) and signed Jimmy Garoppolo to replace Carr. Earlier Tuesday, the Raiders signed New England Patriots wide receiver Jakobi Meyers.
The trade of Waller, 30, opens up $11.4 million in salary-cap room and cash for the Raiders to spend in free agency. They badly need offensive line help and additions on all layers of the defense.
Waller missed eight games in 2022 after he missed six in 2021. He had just 28 catches in 2022. Yet, he is considered a premier tight end. Now, he is a key piece in New York.
The Raiders now have a gaping hole at tight end. Waller’s backup, Foster Moreau, is a free agent, and the Raiders want him back but money has been an issue. Maybe this trade pushes a Moreau return to the finish line.