While Calvin Ridley might not have been the dominant WR1 the Jacksonville Jaguars were hoping for when they acquired him from the Atlanta Falcons at the 2022 NFL trade deadline, he still managed to post the second-best receiving line (76-1,016-8) of his career.
On Thursday, Jaguars general manager Trent Baalke suggested he plans to work on a new deal for Ridley, who’s scheduled to become a free agent on March 18.
“The sky’s the limit. (Ridley’s) only going to get better because of the way he works,” Baalke said. “When you love something as much as he leaves football, you can’t help but get better.
“We would love to have Calvin back. We are going to work toward that. What that means? I don’t know right now.”
2 Reasons Why a Calvin Ridley, Jaguars Deal Might Have To Wait
Pro Football Network ranked Ridley as the fourth-best free agent wideout in the 2024 class, behind only the Cincinnati Bengals’ Tee Higgins, the Indianapolis Colts’ Michael Pittman Jr., and the Tampa Bay Buccaneers’ Mike Evans.
Spotrac pegs Ridley’s projected market value at $17 million, which would make him the 16th-highest-paid WR in the NFL.
Even if the Jaguars and Ridley find an agreeable price point, there are two reasons to believe no deal will be signed until after the start of the new league year.
The Jaguars’ Franchise Tag Is Already Spoken For
Let’s start with the most straightforward reason: The Jaguars won’t be able to use the franchise tag on Ridley.
While Baalke said Jacksonville wants to retain Ridley, pass rusher and fellow pending free agent Josh Allen is clearly the club’s top offseason priority. Allen, who broke out for 17.5 sacks this past season, “is going to be a Jaguar next year,” as Baalke told reporters on Thursday.
MORE: Calvin Ridley Makes His Pitch To Remain in Jacksonville
That was Baalke’s not-so-eloquent way of admitting that Jacksonville would deploy the franchise tender to retain Allen if needed. Given that the 2024 DE franchise tag will cost just $23.3 million while pass rusher salaries have exploded beyond $30 million annually, we’re guessing the tag is the most likely outcome for Allen.
NFL teams only have one franchise tender at their disposal each offseason. If the Jags use theirs on Allen, Ridley will be free to reach the open market.
The Lasting Implications of the 2022 Ridley Trade
The Jaguars acquired Ridley from the Falcons in Nov. 2022, sending multiple draft picks to Atlanta to pick up the then-suspended pass catcher. Ridley was in the middle of serving a season-long ban for betting on NFL games.
Jacksonville has already given the Falcons a 2023 fifth-round selection. The Jags are also on the hook for a conditional pick in the 2024 NFL Draft.
That pick became a fourth-rounder when Ridley played for Jacksonville in Week 1. It was upgraded to a third-round choice when Ridley hit various thresholds (60% playtime, 75 receptions, 1,000 yards), any of which would have triggered the upgrade.
The Jaguars control the final fate of that pick. If Jacksonville signs Ridley to an extension before the 2024 NFL league year starts, it will have to give Atlanta a second-round selection in this year’s draft.
However, if the Jaguars wait, let Ridley officially become an unrestricted free agent, and then ink him to a new deal, the Falcons’ pick will remain a third-rounder.
This feels like a pretty easy call for Baalke. Even if Jacksonville wants to bring Ridley back, it seems obvious that the club should let him hit the market, thereby saving themselves 32 spots worth of draft position.
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