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JACKSONVILLE, Fla. — The Jaguars started off this week by making three salary cap cuts and placing the franchise tag on pass-rusher Josh Allen while they work on signing him to an extension. Days later, they re-signed guard Ezra Cleveland and safety Daniel Thomas.
While free agency doesn’t officially start until Wednesday at 4 p.m. ET, there is now more clarity on where the Jaguars stand as far as cap space and priorities. Here’s a breakdown of what to expect in free agency and even possible players they could target.
What is the Jaguars’ salary cap situation?
The Jaguars had approximately $24.6 million in salary cap space following the tagging of Allen and the release of cornerback Darious Williams, defensive tackle Folorunso Fatukasi and safety Rayshawn Jenkins, but that number will decrease once the full contract numbers from the new deals the team gave to Cleveland and Thomas are filed. Cleveland received a three-year deal worth $28.5 million with $14.5 million guaranteed.
The Jaguars are working on creating more cap room by restructuring right guard Brandon Scherff’s contract, per a league source. He has the third-highest cap hit ($23.967 million, behind only receiver Christian Kirk’s $24.237 million and Allen) and the third-highest base salary ($15 million, behind only Allen and left tackle Cam Robinson’s $16.25 million) on the roster in 2024, and the team can ease those numbers by adding more years to the deal.
If the Jaguars sign Ridley before the league year begins, they would have to send a second-round pick to the Atlanta Falcons to complete the terms of the 2022 trade that brought Ridley to Jacksonville. If they sign him after the league year begins, the Jaguars would send the Falcons a third-round pick.
However, Ridley’s representatives can begin negotiating with other teams Monday and could work out a deal that’s out of the Jaguars’ price range. With Cincinnati’s Tee Higgins franchise-tagged and Tampa Bay’s Mike Evans signing a two-year extension worth up to $26 million annually, Ridley is atop the list of most desirable free agent receivers. The 29-year-old caught 76 passes for 1,016 yards and eight touchdowns last season. He missed the 2022 season because of a suspension for violating the NFL’s gambling policy, and when he played in the 2023 season opener, it marked 23 months between games.
Ridley said in January that he wanted to return to the Jaguars because of the relationships he built and didn’t want to have to learn another offensive system, but he wasn’t sure if that would happen and that money would be a factor.
What are the Jaguars’ needs, and who are potential free agent targets?
With the release of Williams and the fact that cornerback Tyson Campbell is entering the final year of his rookie contract, cornerback tops the list of positions that need to be addressed this offseason, followed by interior offensive line and interior defensive line.
But the Jaguars don’t have the cap space available to sign top free agents after using the $24 million franchise tag on Allen (that number could change if they reach an agreement on an extension), the deals with Cleveland and Thomas, a potential deal with Ridley and approximately $5 million needed to sign their draft class. They will likely take the approach of signing lower-tier free agents.
Here are some names to watch that could fill areas of need:
The Jaguars pick 17th in April, and if the draft plays out similar to what we’ve seen from multiple mocks, they could be in a good position to have their pick of the top two or three corners. Even so, they have to add experienced depth to the position in new defensive coordinator Ryan Nielsen’s system, and Jackson could be an affordable option. He has been a part-time starter in his four seasons in Buffalo, including starting a career-high 14 games in 2022, and has three interceptions and 28 pass breakups over that time.
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