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Free agent frenzy: Wallace, Kruger, Ellerbe sign big deals, Fitzpatrick, Asomugha cut

Ready. Set. Spend!

The NFL's free agent frenzy began Tuesday, with Mike Wallace, Paul Kruger and Dannell Ellerbe among the big names to switch teams for big paychecks.

Several other stars, including Nnamdi Asomugha, Ryan Fitzpatrick and Antoine Winfield, are looking for jobs after they were cut in cost-saving moves on a busy opening day of free agency.

The Baltimore Ravens are paying the price for winning a Super Bowl. The NFL champions lost two key components of their defense in Kruger and Ellerbe. On Monday, they traded star receiver Anquan Boldin, a key to their title run, to San Francisco — the team the Ravens beat 34-31 to win the championship.

Kruger went north to division rival Cleveland for a five-year, $40 million deal, while Ellerbe headed south to Miami for $35 million over five years. Steelers receiver Mike Wallace joined Ellerbe in choosing the Dolphins.

"He has a unique skill set which we believe will be a welcome addition to our offense," general manager Jeff Ireland said of Wallace in a statement.

Baltimore did sign free agent defensive end Chris Canty, who spent the previous four seasons with the New York Giants.

The 49ers didn't go untouched, either. After giving up a sixth-round draft pick for Boldin, they saw tight end Delanie Walker leave for Tennessee.

San Francisco also confirmed the trade of backup quarterback Alex Smith to Kansas City, a deal that was known for weeks. The 49ers will receive the Chiefs' second-round pick, 34th overall, in this year's draft and a conditional pick in next year's draft.

The 32-year-old Boldin expressed surprise that he was traded.

"I thought this was the last stop of my career but regardless of the circumstances I came here to win a Championship ... and in February we came home Champions," he said on Twitter.

Ellerbe also tweeted as he moved on to the Dolphins.

"Just wanna take time to THANK GOD for being in this position I'm in! Before I make da BIGGEST DECISION in my life I just wanna thank him!!!" Ellerbe said.

Kruger led the Ravens with nine sacks and added 2½ in the playoffs and two in the Super Bowl. But he was too expensive for Baltimore to keep.

Wallace will give Miami the speedy receiver it has sought after getting just three touchdown catches from its wideouts last season. The Dolphins also re-signed free safety Chris Clemons to a one-year deal.

Denver ensured that Peyton Manning will be the Broncos' quarterback through at least 2014.

The four-time MVP's contract called for a guaranteed salary of $20 million in 2013 and 2014 if he was on the Denver roster Tuesday. The final two years of his contract are worth $19 million each, but are not guaranteed.

Coming off multiple neck operations, Manning threw for 4,659 yards and 37 touchdowns last season and was the NFL Comeback Player of the Year. He turns 37 on March 24.

Kansas City was busy finding support for Smith on both sides of the ball. The Chiefs agreed to a four-year, $16 million deal with tight end Anthony Fasano, a three-year, $12.6 million contract with defensive tackle Mike DeVito, and a three-year deal with Saints backup quarterback Chase Daniel.

Fitzpatrick, the Bills' starting quarterback, was released 1½ years after getting a six-year, $59 million contract extension. Fitzpatrick struggled after signing the new deal, and the Bills went 6-10 in 2011 and in 2012.

Philadelphia released Asomugha, who two years ago got a five-year, $60 million contract with $24 million guaranteed when he left Oakland as a free agent. Asomugha was a flop in Philly, often victimized in single coverage.

Asomugha was scheduled to make $15 million next season, with $4 million guaranteed.

Earlier, Tony Gonzalez changed his mind and decided to return to the Falcons.

The NFL's career leader among tight ends with 1,242 receptions and 103 touchdowns said he was 95 percent certain he would retire after 2012, but the other 5 percent won out.

Hours before free agency began Tuesday, Gonzalez tweeted:

"The lure of being on such a great team and organization, along with unbelievable fan support was too good to pass up."

The Falcons also agreed to a six-year contract with left tackle Sam Baker, bringing back another key player on a team that came up just short of the Super Bowl.

Defensive end Will Smith and linebacker Jonathan Vilma, both implicated in the Saints' bounty scandal, agreed to restructure their contracts to remain with New Orleans.

The 31-year-old Smith and 30-year-old Vilma, both veteran defensive captains, would have taken up about $23 million combined in salary cap space without the redone deals.

Minnesota finalized the trade of receiver Percy Harvin to Seattle, released 14-year veteran cornerback Winfield and re-signed right tackle Phil Loadholt. The Seahawks are sending their first-round and seventh-round draft picks this year plus their third-round selection in 2014 to the Vikings for Harvin.

Also Tuesday:

— Houston cut receiver Kevin Walter, who was due to make $2 million in salary. Walter never became the threat opposite Andre Johnson that the team hoped for. He caught 41 passes for 518 yards and two touchdowns in 2012. The Texans then lost tight end James Casey to Philadelphia.

— Tennessee agreed to terms with Buffalo guard Andy Levitre and Walker. Levitre, one of the top offensive linemen on the market, got a six-year deal worth nearly $47 million. He will replace Steve Hutchinson, who announced his retirement earlier Tuesday. Walker will help replace Jared Cook, whom the Titans declined to tag as a franchise player because he wants to be paid more like a receiver. Cook signed a five-year deal with St. Louis.

The Titans waived safety Jordan Babineaux and guard Mitch Petrus.

— Pittsburgh re-signed linebacker Larry Foote and wide receiver Plaxico Burress, and tendered offers to four restricted free agents: receiver Emmanuel Sanders, running backs Jonathan Dwyer and Isaac Redman, all of whom could be starters in 2013, and nose tackle Steve McLendon.

— Denver agreed to terms with guard Louis Vasquez, late of San Diego. According to STATS, he has allowed just 11 sacks and had one penalty during his time with the Chargers.

— Tight end Martellus Bennett agreed to a four-year contract with the Bears, leaving the Giants after one season. Defensive tackle Henry Melton signed his franchise tag tender at $8.45 million, and the Bears agreed to a five-year contract with New Orleans Saints Pro Bowl left tackle Jermon Bushrod.

— Cincinnati re-signed defensive ends Robert Geathers and Wallace Gilberry.

— Carolina cut linebacker James Anderson, a seven-year veteran who set a franchise record in 2011 with 174 tackles.

— San Diego released 11-year veteran tight end Randy McMichael and signed kicker Nick Novak to a four-year contract. The Chargers also agreed to terms with tight end John Phillips and tackle King Dunlap.

— The New York Jets cut nose tackle Sione Po'uha and restructured the contracts of receiver Santonio Holmes and cornerback Antonio Cromartie.

— The Oakland Raiders cut ties with two former first-round picks by releasing starting receiver Darrius Heyward-Bey and defensive back Michael Huff. The Raiders also cut defensive end Dave Tollefson and re-signed cornerback Phillip Adams to a one-year deal before the start of the league year.