Jets up for lots of cap juggling before deadline
The Jets have a ton of looming decisions this offseason.
None are more significant than Gang Green’s current salary-cap situation.
According to Over The Cap, the Jets are projected to be around $1 million over the salary cap. This is without signing or trading for a high-priced quarterback or signing their draft class, which will require approximately $4 million.
Last week, the NFL informed teams that the 2023 salary cap would be a record $224.8 million. It’s a $16.6 million jump for each club from the $208.2 million cap in 2022.
Because of the Jets’ cap situation, they must make some difficult decisions regarding restruc- turing contracts and releasing veteran players. The Jets have until 4 p.m. on March 15 to get under the cap before the free-agency period officially opens.
The Jets have made it known they plan to add a veteran quarterback. Considering the price of quarterbacks, that could be pricey. Not to mention, defensive tackle Quinnen Williams wants a contract extension after registering a career-high 12 sacks in 2022.
The Jets have several ways to free up money during the next month. The biggest salary-cap casualty could be one of the starting wide receivers.
If Gang Green releases Corey Davis, that would free up $10.5 million with a cap hit of over $666,000. During his two seasons with the Jets, Davis has failed to meet expectations.
In 2021, Davis signed a threeyear, $37.5 million contract with $27 million in guarantees. In two years, he has played in 22 of a possible 34 games due to various injuries.
Davis’ numbers have yet to live up to the contract he is receiving. He has caught 66 passes for 1,028 yards and six touchdowns. To put it in perspective, as a rookie, Garrett Wilson finished with 83 catches for 1,103 yards and four touchdowns last season.
The Jets could trade Davis and receive a draft pick in return. The free-agent receiver class lacks much star power, and Davis would undoubtedly have some suitors.
Three more players in danger of being released are defensive ends Carl Lawson and John Franklin-Myers, along with safety Jordan Whitehead. The Jets would save $15.4 million if Lawson is cut or traded. Last season coming off an Achilles tear, Lawson recorded 33 tackles and seven sacks. Given the Jets’ depth at defensive end, they can afford to let go or trade Lawson to gain more cap room. The Jets drafted Jermaine Johnson in the first round and Micheal Clemons in the fourth round of last year’s draft.
Franklin-Myers isn’t expected to be released as he is a veteran leader on the defensive line. Last season, Franklin-Myers finished with 38 tackles and five sacks. However, if the Jets did go down the road of possibly releasing him, the team would net $11.4 million in savings.
Whitehead’s play was up and down during his first season with the Jets after coming over from the Buccaneers. He finished with 89 tackles and two interceptions. However, Whitehead struggled to cover receivers and tight ends throughout the year.
If the Jets release Whitehead, he would save the team $7.25 million. Given the team’s struggles at both safety spots last season, the Jets could decide to get younger while bringing in another veteran, such as Jesse Bates, who is excellent as a single-high safety and a superb run defender.
Releasing Lawson, Franklin-Myers and Whitehead would add $34.05 million, giving the Jets $33.1 million of space for free agency. That doesn’t even include a possible restructuring of linebacker C.J. Mosley’s contract or left tackle Duane Brown possibly retiring or being cut.
Gang Green would love to keep Mosley, who is the heart and soul of the defense.