I would sign Fred Davis to a 2 year deal that would pay him $1 mill this year and if he's healthy it will pay him $4.5~$5.75 mill in year 2. But if he isn't healthy, the 2nd year is voidable and we can cut him.
Also theres so many TEs in this draft that are 5 madden points better/worse than Fred Davis.
But seriously there really are a lot of TEs in this draft that can be better or just as effective as Fred was last year in this offense.