After an embarrassing 2020 season, what is the New York Jets’ salary cap situation entering the 2021 NFL season? Let’s take a look at the Jets’ salary cap situation, as well as which players they could release, restructure, or extend to create additional salary cap space in 2021.
The Jets project to be around $82 million under the salary cap in 2021
As of March 6, the 2021 NFL salary cap projects to be around $185 million. The Jets will carry over $26.7 million in cap space to the 2021 season and have a $1.4 million adjustment applied to their cap per Spotrac. Therefore, the Jets’ current salary cap projects to be $213.1 million.
As it stands, the Jets have around $113.7 million in commitments to their top 51 highest-paid players, with an additional $17.0 million in dead money. As such, the Jets are currently around $82.3 million under the salary cap heading into 2021.
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To view the most up-to-date numbers for the New York Jets’ salary cap space, check out our team by team 2021 salary cap space article, which is updated daily.
New York has a handful of potential options for releasing players
The New York Jets do not need to make any desperate moves to open up salary cap space in 2021, but as they look to rebuild, some players may not fit the new decision-makers’ long-term vision. General manager Joe Douglas has already demonstrated the willingness to move on from players by releasing defensive lineman Henry Anderson.
Jamison Crowder would be a surprise release
Wide receiver Jamison Crowder expects to count $11.4 million against the Jets’ salary cap in 2021. In 2020, he was their most reliable receiver, but the Jets may decide the cap space is better used elsewhere. Crowder is entering the final year of his deal in New York and may not be willing to remain.
The Jets should certainly discuss a potential extension. However, if he is not open to it, then releasing him may make sense. New York could then create $10.4 million in salary cap relief to invest in a long-term option, either at WR or another position.
The Jets’ offensive line is a huge headache
The offensive line for the Jets has been a continual problem in recent seasons. They added George Fant, Alex Lewis, and Greg Van Roten in 2020. However, all three could be potential cut candidates in 2021. Fant expects to count $9.9 million against the Jets’ salary cap in 2021, with Lewis and Van Roten at $6.9 million and $3.7 million, respectively.
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Releasing Fant would save $7.9 million, with Lewis opening up $5.2 million and Van Roten $3.4 million. It would be risky for the Jets to move on from all three in 2021, but a combination of two makes sense as they look for a fresh start.
Which other players are options for the Jets to release this offseason?
The Jets need to make sure they are not carrying players for the sake of it in 2021. Their plan this season needs to be geared towards progress over the next five years. Therefore, they may consider moving on from players who have failed to impress in recent seasons.
- Chris Herndon IV, TE – Cap savings: $2.2 million; Dead money: $167,380
- Folorunso Fatukasi, IDL – Cap savings: $2.2 million; Dead money: $43,564
- Ryan Griffin, TE – Cap savings: $1.8 million; Dead money: $1.5 million
The Jets have limited decisions surrounding extensions or restructures to create cap space in 2021
With their cap surplus, the Jets do not need to make a big effort to extend or restructure deals. Outside of Jamison Crowder, there are limited players they should consider for an extension at this point. However, the big elephant in the room remains with Sam Darnold.
What do the Jets do with Sam Darnold?
The 2021 season will see Darnold count for $9.8 million against the Jets’ salary cap if they retain him. Of that money, $5.0 million is a prorated signing bonus and will remain on the Jets’ salary cap in 2021 regardless of their decision.
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There is no need to rush with the extension, but the decision around the fifth-year option is looming. If the Jets pick up Darnold’s fifth-year option, they will have approximately $18.7 million in fully guaranteed salary on their books for 2022.
Therefore, unless the Jets are certain they want to commit to Darnold for two more seasons, a trade seems to be the most logical option. Letting him play out his fourth year does not seem logical unless they bring in a young quarterback to compete with him.
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