The NFL’s salary cap is set to make an unprecedented jump from $224.8 million to $255.4 million in 2024.
The more than $30 million difference is much larger than most expected and means extra room for the Jacksonville Jaguars to work with during the 2024 offseason.
But that’s not the only news from Friday that’s important for the Jaguars. With the salary cap for the upcoming season officially set, Jacksonville also learned how much it’ll cost to make a few potential moves in the coming weeks.
The franchise tag numbers are now set and the fifth-year option totals for 2021 first-round selections are also official.
Here are five numbers that were set Friday and stand to impact the Jaguars’ immediate future:
$24.67 million in cap space
The larger than expected salary cap total could make the Jaguars’ efforts to keep both Josh Allen and Calvin Ridley a lot easier. It may also mean the team needs to do a little less pruning of the roster than initially expected.
While the list of potential cap casualties has included Cam Robinson, Brandon Scherff, Darious Williams, Rayshawn Jenkins, and Zay Jones, the Jaguars may now have space to keep a player they weren’t so keen on parting with.
$25,664,000 fifth-year option for Trevor Lawrence
Lawrence is set to make more than $25 million in 2025 if the Jaguars make the easy choice to exercise his fifth-year option. While Pro Bowlers get an increased fifth-year option, that doesn’t apply to players who were named to the roster as an alternate. So Lawrence doesn’t get the more than $34 million due to one-time Pro Bowlers.
Will it matter and will he ever play on that option? Probably not. Jacksonville will likely want to extend the quarterback before he reaches his contract year.
$6,143,000 fifth-year option for Travis Etienne Jr.
The fifth-year option for the Jaguars’ other 2021 first-round pick is much, much cheaper. Etienne hasn’t made a Pro Bowl in his career and, due in part to an injury that cost him his entire rookie year, hasn’t met the play-time criterion for a boost either.
Instead, he’d be set to get the minimum fifth-year option for a running back if the Jaguars choose to exercise it. There’s little reason why they wouldn’t.
$24,007,000 franchise tag for Josh Allen
The tag appears to be an inevitability for Allen after a 17.5 sack season and delayed talks about an extension.
With the salary cap official, the nonexclusive franchise tag for a linebacker is set at just a hair over $24 million.
Perhaps the Jaguars would argue that he’s a defensive end as Allen had his hand on the ground on just over half of his defensive snaps. In 2020, the Ravens compromised with Matthew Judon and gave him a tag that was split between the linebacker and defensive end numbers.
The defensive end tag is valued at $21,324,000.
$21,816,000 franchise tag for Calvin Ridley
It seems unlikely that Jacksonville will get a deal done with Allen before the March 5 deadline to apply the franchise tag. But if they pulled it off, the Jaguars would be freed up to use the tag on Ridley instead.
That number would be not much different than the total for Allen.
