The Jacksonville Jaguars signed a receiver on Monday — it just might not have been the one that many expected.
Instead of coming to terms on a new contract with internal free agent Calvin Ridley, the Jags inked former Buffalo Bills wideout Gabe Davis to a three-year contract.
Is Ridley destined to sign elsewhere? Or could Jacksonville still bring him back?
Will Jaguars Re-Sign Calvin Ridley After Adding Gabe Davis?
Had Davis signed a one-year deal with the Jaguars, maybe Ridley could still fit Jacksonville’s roster in 2024.
Even a multi-year pact for Davis with a modest average annual salary might’ve left room for a Ridley extension.
But the details of Davis’ new contract with Jacksonville paint a clear picture — Davis is in, and Ridley is out.
Davis, four years younger than the 29-year-old Ridley, will collect $39 million over his three-year deal, according to The Athletic’s Dianna Russini. Incentives could increase his total earning package to $50 million.
Gabe Davis agreed with the Jaguars to a 3 year deal for $39 million with incentives that could get him to $50 million, per sources.
— Dianna Russini (@DMRussini) March 11, 2024
While The Athletic’s Jeff Howe adds that Jacksonville is “still hoping to retain “Ridley,” a reunion seems incredibly unlikely.
The Jaguars had just $18.2 million in cap space before signing Davis. General manager Trent Baalke will still be scrounging to improve Jacksonville’s defense, even if Jacksonville manages to keep Davis’ 2024 cap charge relatively low.
Moreover, the Jags are already paying WR Christian Kirk $18 million per year and TE Evan Engram $13.75 million annually. No NFL team has more than four skill position players earning more than $13 million per season.
Jacksonville had the ninth-most 2024 cap space ($38.65 million) invested in its WR room before landing Davis, per Over the Cap. There’s no room on this roster for another highly-paid pass catcher.
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And Ridley will be highly paid. The free agent wide receiver market has taken more hits than any other position group this offseason, as nearly every top-end option has been removed from the board.
The Cincinnati Bengals franchised Tee Higgins, but now, he wants a trade. The Indianapolis Colts did the same say with Michael Pittman Jr. before extending him on Monday. Mike Evans re-signed with the Tampa Bay Buccaneers.
Marquise Brown and Darnell Mooney may have surprising markets, but Ridley is the best WR available in free agency right now. If Davis could a $13 million AAV, Ridley could be shooting for $20 million.
Given the absence of alternatives and a league-wide need for wide receivers, he could get it. Ridley might not have been the WR1 the Jaguars were hoping for when they acquired him at the 2022 trade deadline, but he still put up the second-best receiving line (76-1,016-8) of his career.
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