What It Means:

Graham is finally off the active/PUP list, but isn't participating in team drills. Carroll said, "We don't have a timetable for this that he has to meet any schedule at all. We're just working him back, and he's gaining confidence, and it's really important not to have any setbacks. So we're being careful." Graham is coming off of one of the most devastating injuries a football player can suffer -- one where very few, if any, have had a legitimate recovery from. Graham is tough to justify as anything more than a late-round flier in fantasy leagues.

Our models have Graham as the 10th-best fantasy tight end going into the season, projecting him to catch 67 passes for 782 yards and 5.70 touchdowns, but this doesn't price in the risk of his not being healthy. He's still interesting if his ADP continues to fall.