The New England Patriots have a ton of salary cap space, but how will they spend it?
The Patriots entered the NFL offseason ranked second in the league in cap space. And, after last week’s historic increase in league-wide cap space, New England found itself with a whopping $87 million to work with. The number would increase to just north of $100 million with a J.C. Jackson release, which is an inevitable move.
So, the Patriots figure to be major players in NFL free agency. We took a crack at predicting what they’ll do once the action starts.
Patriots Free Agency Predictions
After he was hired as Bill Belichick’s replacement, head coach Jerod Mayo said New England is “ready to burn some cash” in free agency. Sure, Mayo might simply have been telling fans something they wanted to hear — but we’ll take him at his word.
De facto general manager Eliot Wolf communicated a similar message during a news conference at the 2024 NFL Scouting Combine on Tuesday.
“We’re going to aggressively try to help the team,” Wolf told reporters. “Take that however you want it, but we will try to do what’s right.”
The Patriots can’t afford another season mired in irrelevance. Robert Kraft’s patience is wearing thin, as his franchise has gone without a playoff victory since winning Super Bowl LIII in 2018. He seems desperate.
My new Patriots salary cap space number is $86,857,390. Releasing J.C. Jackson would add $13.46M to it putting the new number over $100.3M. Waiting on the official adjustment number. My projection for the adjustment figure is $10.7M. The $10.7M is already baked in the $86.9M.
— Patscap's Patriots Cap Space Number is 86,857,390 (@patscap) February 25, 2024
Add it all up, and New England appears primed for a spending spree, perhaps one even pricer than what we saw in 2021. But which free agents will reap the benefits?
Sign WR Calvin Ridley
Ridley probably is more of a high-end WR2 than a true No. 1 receiver. But the problem for the Patriots is they don’t have either.
New England’s best receiver is DeMario Douglas, a diminutive sixth-round pick from the 2023 NFL Draft. Douglas has a ton of talent, but he’s small and profiles as a slot receiver. The Patriots need a more versatile threat, someone on whom the next franchise quarterback can rely for big plays.
MORE: Patriots Exec Eliot Wolf Dishes on 2024 QB Draft Class
Ridley can still be that player. Sure, his numbers were somewhat disappointing last season, but he still caught 76 balls for 1,016 yards and eight touchdowns after missing all of 2022 while suspended. He also didn’t miss a single game and was the top pass catcher for the Jacksonville Jaguars.
At 29 years old, Ridley probably won’t command a top-of-market contract. But his status as arguably the best receiver option in free agency — especially with Tee Higgins now franchise-tagged — could spark a bidding war among receiver-needy teams.
The Patriots, with all that cap space, should do what it takes to land Ridley — even if they need to overpay.
Sign QB Jacoby Brissett
The Patriots might use the third overall pick in the 2024 NFL Draft to land their next top quarterback. They could target Kirk Cousins, the top option in free agency. They even could run it back with Mac Jones.
In any case, they must have a good backup quarterback, one capable of filling in and starting at a reasonably high level. And, no, that’s not Bailey Zappe.
There are some decent options, from Ryan Tannehill to Tyrod Taylor to Sam Darnold. There’s also Joe Flacco, who, per sources, won over new Patriots offensive coordinator Alex Van Pelt during their brief time together with the Cleveland Browns in 2023.
But the pick here is Brissett, who checks a ton of boxes for the Patriots.
He’s willing to accept the role of backup. He worked with Van Pelt in Cleveland. He’s started 48 games, including 15 in two different seasons. He knows New England, as he was drafted by the Patriots in 2016. He is also a dual-threat QB, which would provide crucial continuity if the Patriots settle on an athletic quarterback atop the draft.
The Patriots should sign Brissett. It makes too much sense.
Re-Sign OL Mike Onwenu
Keeping Onwenu is going to be expensive, regardless of whether the Patriots use the franchise tag or sign the 26-year-old to a long-term deal.
But a deal needs to get done.
The versatile Onwenu is an excellent right guard and a very good right tackle. The Patriots, undermined by woeful offensive line play the last few seasons, can’t afford to enter next season without the right side solidified.
This would be a different conversation if Onwenu were just a guard. The Patriots could let him walk and commit to Sidy Sow, who enjoyed an impressive rookie campaign at right guard. However, over the second half of last season, Onwenu proved his rookie-year success at right tackle wasn’t a fluke. He can be a franchise right tackle.
Onwenu recently fired both of his agents. But on Tuesday, Wolf said the change won’t impact New England’s intentions of retaining the 2020 sixth-round pick.
“Mike’s a core player for us,” Wolf said. “It’s no secret we want to try to keep Mike. It’ll just be a little bit of a wrinkle dealing with him. Mike’s really smart. He’s introspective, and he’s thoughtful.
“He knows what he wants, which is always good when you’re dealing with a player. He’s certainly someone that we view as a cornerstone for us.”
Wolf also suggested the franchise tag could be in play for Onwenu or pending free agent safety Kyle Dugger.
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“All the options are on the table,” Wolf said. “We definitely want to keep Mike and Kyle and we’re hopeful to continue to work with Kyle’s agent and Mike to make that happen.”
The Patriots have other options at safety and can live without Dugger, who’s overrated and coming off a disappointing season. But they need to re-sign Onwenu.
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