I had originally planned on my next fantasy article being dedicated to breaking down the running backs and what roles they will play (and how well they'll perform them), but all I have running through my mind at the moment is just how criminally underrated Malcom Floyd is, both in fantasy and real life.

How underrated exactly? I'll put it this way: One of my leagues is a 12 team Dynasty league with 25 roster spots. For those not familiar with this type of league, a Dynasty one is where you basically keep your entire roster each year, and hold a small rookie draft. The idea is to mimic franchise building. In this league, Malcom Floyd is not currently rostered, even though I consider the other league owners to be pretty knowledgeable. As soon as free agency opens, you can be sure he's on my team.

According to Average Draft Position (ADP) data at MockDraftCentral.com, arguably the best mocking site around, Floyd is unranked. Making the list are players such as Matt Jones, Jason Avant, Antwaan Randle El, Dwayne Jarrett and Josh Reed. I don't get it. What upside do these guys offer that Malcom Floyd doesn't? Well, I'm going to tell you why he's one of my sleepers for 2009 and beyond.

2008

Last season was a breakout one of sorts for Floyd. While people usually use that term for players with far more notable stats that place them in the upper echelon of rankings, I think it's appropriate in this case. Floyd was finally showcasing some of his potential, with career highs in every stat but YAC. He had a few very nice catches, showing himself to be a good red zone target with his size and hands.

How can Floyd flourish in the Chargers offense?

We've seen glimpes of it already. Perhaps my favourite game of Floyd's last season, was the one against New England. Floyd was stepping in for a hurt Chris Chambers, and knowing him well, Philip Rivers told us not to worry; this was the perfect game for Floyd. Going against smaller defensive backs, played right into his strengths and we saw the rewards with a big TD catch. This proved something we all kind of knew to start with: Malcom Floyd and Philip Rivers have a very good connection.

I discussed in my previous article on Rivers, how Chargers love to use their big receivers down the field. At 6'5" and 225 lbs, Floyd fits the bill perfectly. Much like we've seen with Vincent Jackson, his size makes him such a threat down field and I'm convinced with a similar size, better hands and a great understanding with his Quarterback, Floyd can do the same.

How will he get the opportunity?

At first glance, it's easy to assume why Floyd is going so unnoticed in fantasy circles. Most people will look at him and think about all the players he's competing against. Not only does he have Vincent Jackson and Chris Chambers ahead of him on the depth chart, but Antonio Gates, LaDainian Tomlinson and Darren Sproles will all be getting their share of targets through the air.

Most of Floyd's value is long term. Vincent Jackson and Chris Chambers are both in contract years. While Jackson is just emerging as a top NFL wideout, Chambers appears to be on the wane. Given the current contract-extension conundrum the Chargers currently face, I doubt they're both staying.

I see 2009 as Maclom Floyd's opportunity to prove that he can replace either of those players as a starting Wide Receiver and I also see him building on his 2008 season. He's already shown he can step up in place of Chambers, and he seems a ready made replacement for Vincent Jackson. Sure, the Chargers could always draft a replacement, but last I checked, Buster Davis isn't working out too well. He could turn it around, but I'd put my money on Floyd impressing the most.

Personally, I'm optimistic that Floyd has what it takes to become a success in the NFL and that his biggest (and it's a big one, alright) obstacle will be staying healthy.

Projections

These projections are somewhat optimistic and conservative at the same time. If Chambers bounces back well, then they are optimistic. However, if Chambers misses significant time due to injury, these may well be a little conservative. My main basis for the projections assume a continued decline for Chambers, without Floyd cracking the starting lineup just yet.

Value

It couldn't be better. Floyd is going undrafted in the vast majority of leagues in pretty much every format. I think his current value is at it's lowest point, so if you're in a deep keeper or dynasty league, this is the time to grab him, just for the possible upside he brings to the table should he assume a starting role, sooner or later.