Ranked 14th TE, could reach top 12; peak valuation with downside if underused.

Signed by Harbaugh to a significant contract, signaling the Giants' commitment to him as the primary tight end. Ranked 14th among tight ends overall, with the source projecting him inside the top 12 based on Nagy's historical preference for a lead tight end and the potential for Likely to become the one or two target option on the team due to necessity and design. The source acknowledges uncertainty around Harbaugh's past underutilization of Likely with the Ravens but projects better usage in Baltimore given Nagy's system and the team's receiving core situation. Likely is at peak valuation and unlikely to move higher, with downside risk if he assumes a Ravens-like role with minimal increase in targets.