The trade was discussed between the two sides, but fell apart.
A new report from The Athletic's Dan Duggan has detailed the trade discussion between the New Orleans Saints and New York Giants surrounding Kayvon Thibodeaux. The EDGE rusher appears to be available with the draft selection of Arvell Reese and the surplus of defensive lineman and EDGE players for the Giants defense. The Giants picked up his fifth-year option and Thibodeaux will hit free agency next season. It's likely the Giants are searching for compensation that would exceed the compensatory pick they would receive with his departure.
"The Saints were the team most interested in trading for Thibodeaux, however, according to a league source. The problem was the sides weren’t close on potential compensation. The Saints’ best offer is believed to have been a fourth-round pick (No. 132), while the Giants were seeking a second-round pick — the Saints had the 42nd selection.
"The Saints moved on, instead sending a fifth-round pick to the Raiders for defensive end Tyree Wilson and a seventh-round pick. The seventh pick in the 2023 draft, Wilson has 12 sacks in three seasons. Wilson is due $4.2 million in the final year of his rookie contract, compared to Thibodeaux, whose fifth-year option salary is $14.8 million."
The Saints decided to swing on a reclamation project and a player they really liked during the draft process in 2023 in Wilson. It's a low-risk, high-reward move, and Saints GM Mickey Loomis described his 2026 season as a "one-year experiment." Plus, there is no guarantee that New Orleans would have been able to retain Thibodeaux.
The risk of sending draft capital for a one-year player is a risk. Unless there was an understanding that a trade for the former Oregon EDGE rusher would sign an extension once the trade was completed. Nonetheless, the Saints tried for months to land Thibodeaux, but felt the compensation wasn't to their liking or benefit.
The 42nd pick is a large ask with the risks I just mentioned. It's doubtful many teams would pony up that much draft capital, and it is extremely unlikely that a team will give up a 2027 pick with the amount of talent that will be coming out.
It would be wise to keep tabs on forever Saint Cam Jordan as the next addition to their defensive line. The Saints defensive line would have enough ammunition to pressure quarterbacks in 2026. It was a wise move to keep the second-round pick.