Update: ESPN's Adam Schefter is reporting that free agent quarterback Chad Pennington has signed a one-year deal worth $2.5MM to remain with the Dolphins. The deal also reportedly includes a trade bonus of $1.515MM if he is traded this season.

Fantasy Impact:  Chad Henne is the No. 1 quarterback in Miami, and this signing is merely a need.  The team needed a veteran behind Henne, and it made sense for them to retain Pennington especially if he is willing to accept the backup job and mentor the young QB.

Update: Free agent quarterback David Carr is visiting the 49ers, according to the Associated Press.  Carr was not retained by the New York Giants. 

Fantasy Impact:  Carr should have a number of teams showing interest in him should he leave San Fran without a deal.  The Cardinals are another team who has made it known they are looking for a veteran QB to compete with Matt Leinart, and Carr might be on their radar.  

Update:  Free agent safety Antrel Rolle has signed a deal with the Giants, according to Bob Glauber's (Newsday) twitter page. It is believed to be a five-year deal worth $37MM.

Fantasy Impact:  The Giants had also been in talks with Darren Sharper, but Rolle was clearly their top choice, and they land him on day one of free agency.  

Update: According to the Star-Ledger, the New York Giants have been holding preliminary discussions with free agent corner Darren Sharper. 

Fantasy Impact:  The Giants reportedly hosted safety Antrel Rolle on Friday, and Sharper would appear to be Plan B should they not be able to come to terms with Rolle who will certainly be looking for a big pay day.  The Giants are looking to re-tool a defense which was flat out horrible in 2009.  

Update: The Miami Herald is reporting that the Dolphins have released veteran linebacker Joey Porter.

Fantasy Impact: The Dolphins had made it clear earlier in the offseason that Porter was going to be released.  Porter should have a few teams interested in his services, particularly New England.

Update: Special teams extraordinaire Josh Cribbs has reportedly agreed to a new deal with the Cleveland Browns, according to the National Football Post. Cribbs reportedly will make up $20 million the next three seasons.

Fantasy Impact:  Cribbs is a Pro Bowl caliber player and is certainly the team's most valuable player.  

Update: According NFL agent Matt Brei, the Colts will release long-time back-up quarterback Jim Sorgi. 

Fantasy Impact:  It looks like the Colts are ready to turn the backup duties over to Curtis Painter.  

Update: Free agent defensive end Julius Peppers has reportedly signed a six year deal worth approximately $40M in the first three years.   The deal is reportedly going to pay Peppers $12M per season over six years.

Fantasy Impact: This wasn't Chicago's biggest need, although they have been very active on day one of free agency. 

Update: ESPN's Adam Schefter is now reporting that Broncos wide receiver "Brandon Marshall (is) expected to be in Seattle on Saturday to visit the Seahawks and see if they can hammer out an offer sheet."

Fantasy Impact:  This seems like a stretch as the Broncos most likely would not match the offer sheet that Seattle comes up with given the Broncos would then be in line to take Seattle's number six overall draft pick in this year's draft.   

Update: Quarterback A.J. Feeley has signed a two-year deal with the St. Louis Rams reportedly worth $6 million, according to Pro Football Talk.

Fantasy Impact: Feeley does not appear set to be a backup at $3M per year, so this means the Rams have most likely passed on the potential of dealing for Michael Vick.  All signs point to the Rams now selecting a quarterback with their draft pick and let Feeley be the veteran quarterback until the young rookie is ready.  

Update: According to Jeff McLane of the Philadelphia Inquirer, the Philadelphia Eagles have released linebacker Will Witherspoon.  The Eagles acquired Witherspoon last season from the Rams. 

Fantasy Impact:  Witherspoon's tenure with the Birds lasts just 11 games.  He will certainly find another team.  

Update: ESPN's Adam Schefter is reporting via Twitter that The Arizona Cardinals have traded receiver Anquan Boldin to the Baltimore Ravens for third and fourth round draft picks. Boldin, then agreed to a new $28 million, four-year deal with the Ravens.

Fantasy Impact:  Boldin hauled in 84 balls for 1, 024 yards and four TDs last season.  He now becomes the No. 1 receiver in Baltimore, and will join newcomer Donte Stallworth in a revamped Ravens wide receiving corspe.