The Jacksonville Jaguars are projected to enter the 2024 offseason with much more salary cap space than they did when they were over the limit heading into the 2023 offseason.
This time around, the Jaguars have more room to maneuver, but there are also some moves that could eat up that space quickly. For one, the team seems likely to franchise tag Josh Allen, which would guarantee the pass rusher about $22 million for the 2024 season.
If Jacksonville hopes to make that move along with any other additions or extensions in the 2024 offseason, the team simply has to find a way to create more room.
Fortunately for the Jaguars there are ways to make that happen. Some of the decisions will be relatively easy, others will be a much tougher call.
Here are eight ways the Jaguars could cut costs and clear space this offseason:
Release, trade, or extend OT Cam Robinson ($17.75M)
There’s a decision to be made about Robinson, one way or another.
The veteran left tackle is due to count $21,638,889 against the Jaguars’ cap in 2024 and there are a lot of avenues to recoup a significant chunk of that money.
If the Jaguars decide that Walker Little and Anton Harrison are their starting tackles moving forward, the Jaguars could get $17.75 million back by parting with Robinson via trade or his release, leaving under $4 million in dead money.
If Jacksonville decides Robinson is too valuable to lose, an extension could push some of the tackle’s cap hit into the future and result in as much as $12.5 million of additional space in 2024.
Release G Brandon Scherff ($16.5M)
Scherff has been a two-time team captain in as many seasons in Jacksonville, but he’s been far from the Pro Bowl player he once was in Washington. While he wasn’t terrible in 2023, it’s probably not going to get much better for the 32-year-old lineman.
With a $23,967,000 cap hit on the books in 2024 — second largest on the team — his days with the Jaguars may be over. Releasing him with a post-June 1 designation would save $16.5 million and cause the Jaguars to eat close to $7.5 million in dead money in 2024.
Restructure WR Christian Kirk's contract (up to $11.16M)
The Jaguars restructured Kirk’s deal once, why not do it again?
While the 2023 restructure means the receiver already has void years on the books in 2026 and 2027, there are still ways to lower his team-high $24.384 million cap hits in 2024 and 2025.
A restructure to convert more of his salary into bonuses could save the Jaguars as much as $11,156,250 in cap space in 2024 and $9,886,667 in 2025. The bill will come due eventually, though.
Release, trade, or restructure LB Foye Oluokun ($10-15M)
Any move that would send one of the NFL’s premier tackler out of Jacksonville would probably be an unpopular one among Jaguars fans, but it shouldn’t be ruled out.
By cutting the linebacker with a post-June 1 designation or waiting until later in the offseason to move Oluokun, the Jaguars could get $15 million in cap savings. That could be too much to pass up if Jacksonville feels it could rely on Chad Muma, Ventrell Miller, or a new acquisition to start next to Devin Lloyd.
There’s also the possibility of another restructure that could save as much as $10,031,250, but continue to push cap hits for Oluokun down the line.
Release CB Darious Williams ($10M)
Williams put together a stellar year with 19 passes defended, second most in the NFL.
But with the veteran cornerback turning 31 in March, the Jaguars may be ready to move forward with Tyson Campbell, Montaric Brown, Greg Junior, and perhaps a new acquisition or two at cornerback.
By cutting Williams, the Jaguars could recoup $10 million in cap space and eat only $500,000 in dead money.
Release or trade S Rayshawn Jenkins ($9M)
Jenkins has been a solid member of the Jacksonville secondary since arriving as a free agent in 2021. At times, he’s been nothing short of spectacular.
But those moments haven’t been frequent enough to pass on $9 million in potential savings when the Jaguars have Andre Cisco, Andrew Wingard, and Antonio Johnson at the position.
To get $9 million in savings, leaving only $3,284,000 in dead money, the Jaguars would have to designate Jenkins as a post-June 1 release. But Jacksonville can only do two of those, so it’ll have to pick its spots and maybe be patient with some of its moves. The team would save $5,148,000 and eat $7,136,000 if it cuts Jenkins without the designation.
Release DL Folorunso Fatukasi ($8M)
A move to nose tackle while DaVon Hamilton was out of action yielded good things from Fatukasi, who was previously looking like a free agency bust.
Still, the Jaguars defensive line hasn’t been impressive and the team may need to make big changes up front. Parting with Fatukasi via a post-June 1 release would save Jacksonville $8 million in cap space, leaving the team with just over $4.8 million in dead money in 2024.
Release, restructure, or extend WR Zay Jones ($8M)
It was a rough year for Jones, who dealt with knee injuries and a hamstring issue. After a career-best 82 receptions for 823 yards in 2022, he managed only 34 receptions for 321 yards in nine games this year.
While the Jaguars could chalk it up to bad luck, the team could also prioritize upgraded weapons for Trevor Lawrence, who saw far too many big plays bounce off his playmakers’ hands.
Jones is due to count $11,017,334 against the Jaguars’ cap in 2024, but the team could get as much as $8 million back by cutting or trading Jones after June 1.
A restructure could push as much as $4,717,500 into the future and an extension could bump that number up to $5,032,000.
