DAILY NEWS UPDATE: NFL Free Agency Frenzy: A Look at Tuesday's ...

The pent-up anticipation that?s been building over the last four-plus months finally came to a head on Tuesday, with the first league action since the draft underway. We saw free agents agree to terms on contracts with new teams and with their old teams. We had draft picks and undrafted free agents alike sign on the dotted line. We also had a big name QB rumored to be changing teams via trade, though it was neither of the ones you would have expected going into the day. Let?s break it all down now.

Seattle signs Tarvaris Jackson

This could qualify as the biggest news of the day, because while other agreed upon contracts dwarf the amount Jackson received to go to Seattle, his signing takes the Seahawks out of the running for Kevin Kolb. Since they were one or two teams heavily involved in trade talks with the Eagles, the other (Arizona) has seen a shift in the balance of power. For Jackson?s purposes, he should step in and compete with Charlie Whitehurst for the starting job. Matt Leinart could eventually join the team as a No. 3 as well. Any of those guys could wind up starting games this season, and the downgrade at quarterback means that Seattle receivers (most prominently Mike Williams) see a value hit.

Kevin Kolb trade talks

The Eagles had been holding out for a premium draft pick and a potential starter for their backup QB, and Arizona looked like a perfect match, with Dominique Rodgers-Cromartie on the trade block. However, the Eagles wanted both DRC and the Cardinals? first-round pick next year, which seems like much too much to give for an unproven QB. Kolb-to-Arizona should still wind up happening, though the prize may wind up being DRC, a second-round pick and another conditional pick when all is said and done. However, a dark horse like Miami could emerge. At least, that?s what the Eagles want you to think.

Donovan McNabb to the Vikings?

Minnesota always seemed like a likely landing spot for McNabb, with the West Coast offense veteran acting as the perfect bridge to the future while Christian Ponder, whom many deemed as the most NFL-ready quarterback in this draft class, gets the opportunity to learn from one of the greats. This deal is contingent upon McNabb restructuring his contract with the Vikings, but with both he and the team wanting desperately for this trade to go through, it would be a shocker if the wheels come off at this point.

Panthers CTC for Charles Johnson

One of the reasons the Panthers were comfortable letting Julius Peppers walk last offseason was the play of Charles Johnson, and he rewarded the team with 12 sacks in 2010. The team in turn rewarded Johnson, giving him a six-year contract for $76 million with $30 million guaranteed.

Bring ?em back

Several teams understandably focused on re-signing key players, especially offensive linemen. The Cowboys retained tackle Doug Free, the Ravens re-signed guard Marshall Yanda, the Chargers brought tackle Jeromey Clary back and the Chiefs convinced center Casey Weigmann to put retirement off for one more year. All four guys are important for continuity and quality of play.

Two important fantasy names also agreed to terms with their old teams. Alex Smith will officially be back with San Francisco as a lame duck starter, while Santana Moss will pray the Redskins can find an answer at QB.

On the road again

Aside from the Jackson signing, another quarterback switched teams on Monday, with Tyler Thigpen re-uniting with Chan Gailey in Buffalo. Gailey made Thigpen a flash-in-the-pan fantasy wonder in Kansas City, and he could wind up doing the same in Buffalo if pressed into playing time. At receciver, former fantasy sleeper Devin Aromashodu joined the Vikings to presumably help with depth, as Sidney Rice isn?t expected to return to Minnesota.

Quintin Mikell was quick to join up with Steve Spagnuolo in St. Louis, and it?s a place where he should see plenty of value. The biggest name to change teams on Tuesday may have been Paul Posluszny, the talented Buffalo linebacker who now gets to man the middle of a 4-3 defense once again in Jacksonville. He?ll be a starter and an IDP beast right away. Takeo Spikes winds up moving to San Diego, where he?ll start alongside rookie Jonas Mouton.

Pack your bags

Several notable names got ?the call? from their respective organizations, informing them they?d be released once teams were allowed to cut players. The Ravens are dumping the contracts of Willis McGahee, Todd Heap, Derrick Mason and Kelly Gregg, though the final three of those players could re-sign for less money. The Cowboys rid themselves of Marion Barber, Marc Colombo, Leonard Davis, Kris Brown and Roy Williams, finally capping an incredibly bad move of trading a first-, third- and sixth-round pick for the receiver while forking over $20 million guaranteed. Detroit bailed on receiver Bryant Johnson after adding Titus Young in the draft. Shaun O?Hara, Rich Seubert, Tully Banta-Cain, Jimmy Kennedy and Gerald Hayes were also told to hit the job listings by their respective teams.

Rookie deals

A few draft picks agreed to contract terms on the first possible day, and the only two of note to do so were Buccaneers. Mason Foster, who will take over the MLB role for Tampa Bay with Barrett Ruud moving on in free agency, is in a profitable IDP situation. First-rounder Adrian Clayborn Of the UDFAs, the biggest names to sign were Mark Herzlich with the Giants and Noel Devine with the Eagles. Both could wind up making their teams.

Riding off into the sunset

Edgerrin James took the opportunity on one of the biggest transactional days football has ever seen to bid adieu to the NFL, officially retiring. Once one of the premier fantasy backs in football, James calls it quits at the age of 33.

Tuesday was fun, but the rest of the week promises to be even better. I?ll be tracking the moves at the Fantasy Football Cafe, and we?ll continue to have extended analysis here at FanDuel throughout the week.

R.J. White is the head writer at the?Fantasy Baseball Cafe and?Fantasy?Football Cafe has also written for FanHouse. You can follow R.J. on Twitter?here.