Owens Trade Highlights Day-Two of Free Agency

On the heels of a very active opening day of the free agent signing period, one player that was expected to be one of the most sought after free agents in this year's market found a new home as a result of a trade instead. The San Francisco 49ers, who unexpectedly retained the rights to wide receiver Terrell Owens because of confusion regarding a deadline to void the final years of his contract, traded the disgruntled receiver to the Baltimore Ravens for their second-round choice in this year's draft, pick No. 51 overall.

Owens, of course, had expected to be a free agent at this time, and it appeared the 49ers were going to make little effort to re-sign him, but he failed to void his contract in time, based on a collective bargaining agreement that was signed .

The Ravens will pick up the final three years of Owens' contract, which is worth about $17 million overall, but the enigmatic wideout stands to lose millions since he likely would have pulled in a signing bonus approaching the amount left on his original deal.

Other notable transactions on Thursday:

• The Seattle Seahawks signed defensive end Grant Wistrom to a six-year, $33 million deal, which includes a $14 million signing bonus.
• The Washington Redskins reached an agreement in principle with linebacker Marcus Washington.
• The Carolina Panthers have reached a one-year contract agreement with veteran linebacker Jessie Armstead.