Cost-prohibitive Devin Lloyd franchise tag simplifies Jaguars' dilemma

Devin Lloyd is the linchpin of the Jacksonville Jaguars' defense, but he's also the most coveted free-agent linebacker of the 2026 offseason.

Salary cap gymnastics will be required for the Jags to give Lloyd the extension he deserves after a first-team All-Pro season. One route they positively can't go with Lloyd is the franchise tag, because at $27.6 million, it's way too expensive.

This leads to an obvious conclusion: Jacksonville cannot let Lloyd test the market.

Devin Lloyd extension should be inevitable for Jaguars, who can deploy the franchise tag elsewhere...

Here are the franchise tag amounts by position, now that the window to tag players is officially open:

While tagging Lloyd would guarantee hanging onto him for at least another season, the Jags can actually pay far less than that on a multi-year deal.

The Athletic's top 150 free agents list projects Lloyd to make $78 million on a four-year contract. To use round numbers, that could look something like $17 million in Year 1 — or $10+ million less than the franchise tag.

Although the Jags drafted Bhayshul Tuten last year and he played quite well in spurts, Travis Etienne Jr. is the clear No. 1 running back. In addition to being a dynamic running and receiving threat, Etienne ranked top five in PFF's pass blocking grades.

Letting a three-down back walk in free agency due to "positional value" is nonsense. According to OverTheCap.com, if the Jags make enough contract restructures, they can fit Lloyd's prospective $78 million contract in, franchise tag Etienne, and still have about $5 million to spare. Restructuring Trevor Lawrence and releasing Robert Hainsey in 2027 after all that would make for about $78 million in cap room.

The restructures in question for 2026 would feature Josh Hines-Allen, Arik Armstead (whose deal voids in 2027), Foyesade Oluokun, Patrick Mekari, Walker Little, Jourdan Lewis, and DaVon Hamilton.

I would say that's impossible for most front offices to wrap their heads around. However, young hotshot GM James Gladwell used to work for the Rams and witnessed their top-heavy rosters get creative to fit everyone in under the cap. It wouldn't shock me to see Jacksonville do something similar to maintain the momentum off a 13-win 2025 campaign.

Etienne could net himself an extension, but given the volatility and violence running backs are subject to, the tag gives the Jags flexibility on what they can prioritize in the 2027 offseason. Maybe Etienne plays up to the tag, maybe he doesn't. Jacksonville will still have the futures of Travon Walker, Ezra Cleveland, Anton Harrison, Antonio Johnson, and Brenton Strange to account for.

One thing is certain, though: Devin Lloyd should be featured in any and all iterations of the Jags' future. The franchise tag is too expensive and short-sighted to use on such a unique player at a position where first-team All-Pros are especially hard to come by.