Jets in Free Agency Limbo With Virtually Zero cap Space

[JetNation]

The New York Jets may have bolstered their roster this offseason with the additions of players like Tyron Smith, Morgan Moses, John Simpson, Javon Kinglaw, Olu Fashanu and plenty of others, but there’s still a slight problem.  The Jets need help at safety.

With only Tony Adams, Chuck Clark and Ashtyn Davis having legitimate NFL experience, a new name added to the group would be a good idea.  Atop the list of potential additions should be former Denver Bronco Justin Simmons.  But there’s another problem.  The Jets are cap strapped.

Even after parting ways with defensive lineman John Franklin-Myers to create some breathing room, all that really did was give Joe Douglas the money he’ll need to sign his rookie class.  Currently sitting at just over $9 million in space, the Jets will virtually wipe that out and be at around zero when all is said and done.

There are a few ways they could create some cap space however.

First and foremost they could re-work the deal of defensive tackle Quinnen Williams.  A move that, according to the folks at overthecap.com would free up around $10 million.

Then there are a pair of high performing veterans with one year left on their respective deals in cornerback DJ Reed and edge rusher Haason Reddick.  The Jets could approach one or both about ripping up their current deals and coming to terms on a new contract with more years and money that will come with a much lower 2024 cap hit.

If the Jets are hoping to make any more moves in free agency, something along those lines will be necessary moving forward.

 

 

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[Joe W. Namath]

The cap is a joke.  If the jets need the money they will easily play games with contracts and get it.

There is nothing negative about this franchise right now.  

[Creepy Lurker]

12 minutes ago, Joe W. Namath said:

The cap is a joke.  If the jets need the money they will easily play games with contracts and get it.

There is nothing negative about this franchise right now.  

<0 cap space. What have you done JD?!?!? WHAT HAVE YOU DONE?!?!?!?!?

[PepPep]

NO

[AFJF]

22 minutes ago, Joe W. Namath said:

The cap is a joke.  If the jets need the money they will easily play games with contracts and get it.

There is nothing negative about this franchise right now.  

The cap is  a joke but they just had to deal a versatile 50+ pressure per year DL for a 2026 6th round pick so they'd have enough money to sign their rookie class.

[Untouchable]

Tyron Smith, Mike Williams, Haason Reddick, John Simpson, upper echelon backup QB, DL and safety depth, etc.

I’m not going to cry about the Jets not having oodles to spend post-draft after a pretty damn stellar offseason.

[Sperm Edwards]

3 hours ago, JetNation said:

The New York Jets may have bolstered their roster this offseason with the additions of players like Tyron Smith, Morgan Moses, John Simpson, Javon Kinglaw, Olu Fashanu and plenty of others, but there’s still a slight problem.  The Jets need help at safety.

With only Tony Adams, Chuck Clark and Ashtyn Davis having legitimate NFL experience, a new name added to the group would be a good idea.  Atop the list of potential additions should be former Denver Bronco Justin Simmons.  But there’s another problem.  The Jets are cap strapped.

Even after parting ways with defensive lineman John Franklin-Myers to create some breathing room, all that really did was give Joe Douglas the money he’ll need to sign his rookie class.  Currently sitting at just over $9 million in space, the Jets will virtually wipe that out and be at around zero when all is said and done.

There are a few ways they could create some cap space however.

First and foremost they could re-work the deal of defensive tackle Quinnen Williams.  A move that, according to the folks at overthecap.com would free up around $10 million.

Then there are a pair of high performing veterans with one year left on their respective deals in cornerback DJ Reed and edge rusher Haason Reddick.  The Jets could approach one or both about ripping up their current deals and coming to terms on a new contract with more years and money that will come with a much lower 2024 cap hit.

If the Jets are hoping to make any more moves in free agency, something along those lines will be necessary moving forward.

 

 

The post Jets in Free Agency Limbo With Virtually Zero cap Space appeared first on JetNation.com - New York Jets Blog & Forum.

Click here to read the full story...

The bolded part isn’t accurate.

The Jets don’t have to (nor get to) carry 7 more roster spots than everyone else.

After adding in the 7 rookie contracts, you then subtract out the 7 players they replace on the roster (and subtract their cap hits along with them). IOW the rookies should add a net of maybe $4MM.

Even still, they can restructure others currently on the roster, without even adding new money to their deals, to lessen the 2024 hit. If it doesn’t get used, then that extra space carries over to next year anyway.

[Barry McCockinner]

So the Jets still have plenty of ability to manipulate the cap and create more space according to this article titled "jets free agency limbo w/virtually zero cap space"

 

[Barry McCockinner]

2 hours ago, AFJF said:

The cap is  a joke but they just had to deal a versatile 50+ pressure per year DL for a 2026 6th round pick so they'd have enough money to sign their rookie class.

They could have restructured QW or extended Reed to create cap space for JFM. Maybe they just didn't feel it was wise to spend that much on JFM after trading for Reddick?

[Web72]

I think all eyes are on the next two seasons. Signing Sauce ,Garrett ,JJ , Breece & resigning AR are all a priority 

[Joe W. Namath]

4 hours ago, AFJF said:

The cap is  a joke but they just had to deal a versatile 50+ pressure per year DL for a 2026 6th round pick so they'd have enough money to sign their rookie class.

JFM robbed us for 2 years and was a huge disappointment.  That is why he was dealt.

[bicketybam]

28 minutes ago, Joe W. Namath said:

JFM robbed us for 2 years and was a huge disappointment.  That is why he was dealt.

What about the pressures?!

[bonkertons]

Do we really need help at safety though?  They love Tony.  Ashtyn got better by leaps and bounds last year, to the point where I have no problem with him starting for this team.  Clark is a solid veteran who will get a bunch of reps I'm sure, if not start.  Another body would be nice but we can live with a young player/UDFA filling that role.  Spending actual money on a safety when you have 3 solid guys already seems like overkill.

[UnknownJetFan]

3 hours ago, bonkertons said:

Do we really need help at safety though?  They love Tony.  Ashtyn got better by leaps and bounds last year, to the point where I have no problem with him starting for this team.  Clark is a solid veteran who will get a bunch of reps I'm sure, if not start.  Another body would be nice but we can live with a young player/UDFA filling that role.  Spending actual money on a safety when you have 3 solid guys already seems like overkill.

The 4th safety may be better of being a young one like Mr. Irrelevant since that is how you can identify a very good player over time. Constant vet depth prevents you from being able to do that as well as eating up additional cap space for that vet when the younger player gets much less money and is generally hungrier. I am all for experience, but not at a detriment.

[Bronx]

5 hours ago, Web72 said:

resigning AR

Maybe he can replace ass clown Hackett. 

[32EBoozer]

8 hours ago, Barry McCockinner said:

 

Looks like a pre- pubescent Urban Mayer 

[32EBoozer]

10 hours ago, AFJF said:

The cap is  a joke but they just had to deal a versatile 50+ pressure per year DL for a 2026 6th round pick so they'd have enough money to sign their rookie class.

I was watching the KC-Bills & KC-Balt games yesterday. Mahomes, Allen & Jackson were under constant pressure all game as these teams played for their lives. It seemed to only make them better! “Pressure” stats don’t seem to have helped Baltimore beat Mahomes, nor keep Allen from going toe-to-toe with the champs, nor SF beat KC.

We need closers, and JFM could collapse a pocket but never get the big sack or strip the ball. Reddick, JJ & hopefully McD are able to relentlessly sack the Qb.

[slats]

8 hours ago, Sperm Edwards said:

The bolded part isn’t accurate.

The Jets don’t have to (nor get to) carry 7 more roster spots than everyone else.

After adding in the 7 rookie contracts, you then subtract out the 7 players they replace on the roster (and subtract their cap hits along with them). IOW the rookies should add a net of maybe $4MM.

Even still, they can restructure others currently on the roster, without even adding new money to their deals, to lessen the 2024 hit. If it doesn’t get used, then that extra space carries over to next year anyway.

Absolutely correct. Fashanu will be about $5M/year, Corley about $1.5M/year, Allen about $1.15M, and down… The guys they’ll replace on the top 51 make just under $1M, so yeah, a little over $4.5M total with practically all of it being Olu’s deal. 
 
Also, I don’t see the Jets in the market for a top of the market safety, the so-called hole on the roster (the league doesn’t appear to be, either). They have room to maneuver should they look to make a move, with extensions for Reed and Reddick being my favorites. 

[OtherwiseHappyinLife]

5 hours ago, bonkertons said:

Do we really need help at safety though?  They love Tony.  Ashtyn got better by leaps and bounds last year, to the point where I have no problem with him starting for this team.  Clark is a solid veteran who will get a bunch of reps I'm sure, if not start.  Another body would be nice but we can live with a young player/UDFA filling that role.  Spending actual money on a safety when you have 3 solid guys already seems like overkill.

I see it the same way.

We have 5 safeties when you consider Bernard-Converse and Key, guys we drafted in back to back years.

Chuck Clark did not have his leg amputed and is still 28 / turning 29 after being a Swiss Army knife for Baltimore.  Great at tackling and covering TEs .. things that Whitehead struggled with.

Adams is an ascending FS after a promising first year starting while Ashtyn has developed into the versatile ‘playmaker’ of the group.

Weird narrative this offseason.  I said before the draft and I’ll repeat again, we are wisely not spending our dollars or high capital on the Safety position.

Another guard or veteran WR?  That’s where our focus should be..  we cannot build our offense enough after years of negligence and failure.

[Sperm Edwards]

2 minutes ago, slats said:

Absolutely correct. Fashanu will be about $5M/year, Corley about $1.5M/year, Allen about $1.15M, and down… The guys they’ll replace on the top 51 make just under $1M, so yeah, a little over $4.5M total with practically all of it being Olu’s deal. 
 
Also, I don’t see the Jets in the market for a top of the market safety, the so-called hole on the roster (the league doesn’t appear to be, either). They have room to maneuver should they look to make a move, with extensions for Reed and Reddick being my favorites. 

Yep, but Fashanu’s expected rookie cap hit is probably lower still, closer to $4MM (maybe just under that). Here are this season’s slotted rookie cap estimates from Jason Fitz:

https://overthecap.com/draft

It’s probably lower still, since they ended up picking 11th not 10th (when he made the chart), plus it was a generic/calculated slot chart and the Jets didn’t actually have a 2nd rounder this year.

Further, any safety they sign (if any) won’t need to have the full pay amount hit the cap all this year. Even a one-year signing can come with void years.

Ditto anyone else they want to sign, even without obvious extension opportunities that’d lower the ‘24 hits for current veteran players.

They still have some cap room this year, and can quite easily create more if needed.

[slats]

5 minutes ago, Sperm Edwards said:

Yep, but Fashanu’s expected rookie cap hit is probably lower still, closer to $4MM (maybe just under that). Here are this season’s slotted rookie cap estimates from Jason Fitz:

https://overthecap.com/draft

It’s probably lower still, since they ended up picking 11th not 10th (when he made the chart), plus it was a generic/calculated slot chart and the Jets didn’t actually have a 2nd rounder this year.

Further, any safety they sign (if any) won’t need to have the full pay amount hit the cap all this year. Even a one-year signing can come with void years.

Ditto anyone else they want to sign, even without obvious extension opportunities that’d lower the ‘24 hits for current veteran players.

They still have some cap room this year, and can quite easily create more if needed.

We’re in agreement. I used this article that lists pay by draft slot (they used sportrac and OTC for their numbers): https://www.freep.com/story/sports/nfl/2024/04/25/nfl-draft-picks-paid-salary-contract-rookie-round-1-wage-scale-slot-value/73384189007/

I divided evenly to come up with an annual amount, but you’re right that the earlier years will be cheaper. 

[OilfieldJet]

There are several things I worry about with the 2024 Jets, limited cap space isn’t one of them.

[OtherwiseHappyinLife]

24 minutes ago, 32EBoozer said:

I was watching the KC-Bills & KC-Balt games yesterday. Mahomes, Allen & Jackson were under constant pressure all game as these teams played for their lives. It seemed to only make them better! “Pressure” stats don’t seem to have helped Baltimore beat Mahomes, nor keep Allen from going toe-to-toe with the champs, nor SF beat KC.

We need closers, and JFM could collapse a pocket but never get the big sack or strip the ball. Reddick, JJ & hopefully McD are able to relentlessly sack the Qb.

Great observation.

Reddick led the NFL with 6 forced fumbles a couple years back and also had 5 a year or 2 before that.  A total of 14 in the last 4 years.  

JFM and Huff have a total of 3 in their entire careers combined.

Reddick also has more run stuffs than JFM the past couple years.

McDonald had the same number of forced fumbles (1) in 100 pass rushing snaps as Huff did over his 4 years in NJ.

JJ had 7 passes defensed (batted balls) + 8 run stuffs just this past season, more than JFM and Huff combined over the last 2.

Then other big plays like JJ’s pick 6 or McDonald altering Gano’s field goal to clinch the Giants win.

Add back Ashtyn David, the Jets have wisely prioritized finishing and big plays.  

[32EBoozer]

3 minutes ago, OtherwiseHappyinLife said:

McDonald altering Gano’s field goal to clinch the Giants win.

Don’t remind me!

[DJF71]

6 hours ago, bonkertons said:

Do we really need help at safety though?  They love Tony.  Ashtyn got better by leaps and bounds last year, to the point where I have no problem with him starting for this team.  Clark is a solid veteran who will get a bunch of reps I'm sure, if not start.  Another body would be nice but we can live with a young player/UDFA filling that role.  Spending actual money on a safety when you have 3 solid guys already seems like overkill.

We have Mr. Irrelevant to play safety. 

[Scott Dierking]

34 minutes ago, slats said:

We’re in agreement.

Wrong site.

[Sperm Edwards]

1 hour ago, 32EBoozer said:

I was watching the KC-Bills & KC-Balt games yesterday. Mahomes, Allen & Jackson were under constant pressure all game as these teams played for their lives. It seemed to only make them better! “Pressure” stats don’t seem to have helped Baltimore beat Mahomes, nor keep Allen from going toe-to-toe with the champs, nor SF beat KC.

We need closers, and JFM could collapse a pocket but never get the big sack or strip the ball. Reddick, JJ & hopefully McD are able to relentlessly sack the Qb.

Yes and no. Pressure without a sack can lead to turnovers (e.g. week 1 NYJ/BUF last year).

The thing with JFM’s pressure is the stat is a pure yes/no like an on/off light switch, but the quality of pressure is really more like a dimmer switch. JFM may create pressure on paper, but because he’s so easily evaded once he breaks through a blocker it’s typically meaningless. QBs evade him with a light trot & easily buy themselves an extra 2+ clean seconds rolling out while JFM is sucking wind trying to catch them.

It’s not nearly the same as no-sack pressure was from, say, his teammate Huff who can actually chase down QBs when they roll out and - even without a sack - pressure them into throwaways or bad throws that get picked.

IOW it’s not a meaningless stat, but one guy’s edge pressure isn’t automatically equal to another’s just because the stat sheet says equates them.

[32EBoozer]

5 minutes ago, Sperm Edwards said:

Yes and no. Pressure without a sack can lead to turnovers (e.g. week 1 NYJ/BUF last year).

The thing with JFM’s pressure is the stat is a pure yes/no like a on/off light switch, but the quality of pressure is more like a dimmer switch. JFM may create pressure on paper, but because he’s so easily evaded once he breaks through a blocker it’s typically meaningless. QBs evade him with a light trot & easily buy themselves an extra 2+ clean seconds while JFM is sucking wind trying to catch them.

It’s not nearly the same as no-sack pressure was from, say, his teammate Huff who can actually chase down QBs when they roll out and - even without a sack - pressure them into throwaways or bad throws that get picked.

IOW it’s not a meaningless stat, but one guy’s edge pressure isn’t automatically equal to another’s just because the stat sheet says equates them.

 

I gave the potato version… you diced it up into the more flavorful french fries with seasoning.

[Joe W. Namath]

7 hours ago, bicketybam said:

What about the pressures?!

Hahahahaha.  A stat for “almost” doing something.  Too funny.

[Sperm Edwards]

19 minutes ago, 32EBoozer said:

 

I gave the potato version… you diced it up into the more flavorful french fries with seasoning.

@JetPotato save this gif. Just needs a sporty green hat.

[Mr. Rogers]

I agree with most here that I'd be comfortable rolling into the season with the safety group we have. However, a higher quality safety might increase the upside of this team, too! I wouldn't be upset if we brought in a Simmons. With the Safety market value heavily depressed, the Jets could benefit and get a talented guy on a 1 year discount/incentive contract so he can test FA again next year. 

I do expect the Jets to use every available cent on this "contending'" season, so whether it's OL, S, WR, or elsewhere I expect 1-2 more signings eventually. They don't have to be flashy like Simmons though. 

[PepPep]

8 hours ago, bonkertons said:

Do we really need help at safety though?  They love Tony.  Ashtyn got better by leaps and bounds last year, to the point where I have no problem with him starting for this team.  Clark is a solid veteran who will get a bunch of reps I'm sure, if not start.  Another body would be nice but we can live with a young player/UDFA filling that role.  Spending actual money on a safety when you have 3 solid guys already seems like overkill.

In all seriousness, Safety is still the biggest weakness on a what could be a very scary defense this year. I think if you are in win now mode like the Jets with Rodgers and you really only have a 2yr window, this is a position you would prefer to shore up with another vet, if you could. Chuck Clark is coming off season ending injury. He hasn't played a down for the Jets so far. And Ashtyn Davis has never really been relied on to be a starter. Neither has Adams. So while these guys could all work out great, there's def. some question marks surrounding the starters at that position. Unlike every other position on this defense. 

So do we need  a safety? Probably not. But it would be nice. If JD made a move to free up some extra cap and we signed Justin Simmons, well, lets just say I would be pretty happy about it. Even if it meant cutting loose Bernard-Converse or Adams. 

[32EBoozer]

1 hour ago, Sperm Edwards said:

@JetPotato save this gif. Just needs a sporty green hat.

That’s actually Bobby Saleh pumping out his new 2024 version of “All Gas, No Brakes” positive reinforcement mantras

The Tony Robbin’s of football coaches

 

[Scott Dierking]

1 hour ago, Joe W. Namath said:

Hahahahaha.  A stat for “almost” doing something.  Too funny.

You cannot make that overgeneralization. "Pressures" may lead to someone else making a sack play, a loss or hurrying the qb into an incompletion. or interception.  

Rating D-Line (along with O-line) is one of the hardest endeavors to pull out meaningful, single stat statements. They truly operate as a a unit, and sometimes it is the hidden "stats" that are the most meaningful. 

Just not that easy.

[Alworth]

Are we in a plush cap situation? No. But the opening post is inaccurate. If today we signed all seven draftees and integrated those who are among the players with the 51 highest 2024 cap numbers into the 51 highest cap numbers calculation, the Jets still have a bit over 5 million in cap left. And 10 teams have even less cap under this formula. Of course all player cap numbers must be taken into account by a date a week or so before opening day, But the point is that the Jets have flexibility until that all-players date arrives, and they will need to do little money shifting to be cap compliant when the all-players date does arrive. And the surmise that there will be little shifting  includes whatever money will be needed for  signing cheap depth at IOL, LB and safety, but only  to the extent that,  based on  pre-season performance, JD and the CS think such depth is needed.  Starting free agents are unneeded.