The Jacksonville Jaguars will have their hands full next year. Already, they've doubled their win totals from 2024 (with five games to spare) after addressing the larger scale roster in the offseason. However, the Jags will need to keep adding reinforcements if they want to enjoy sustained success.
One of their biggest decision next offseason will be whether to re-sign Devin Lloyd. The former Utah Ute is having a banner year and is scheduled to become a free agent in 2024. On paper, giving him a new deal should be a no-brainer. But precisely because he's in the midst of a breakout campaign, bringing him back may not fit the team's budget, especially if you take into account his contract projection.
The Jaguars may pass on re-signing Devin Lloyd (at the rate Spotrac suggests)
Spotrac is coming up with contract projections for NFL players ahead of the offseason. They calculate Devin Lloyd's market value at $60.1 million on a three-year deal. That's an annual average of $20 million, which would put him in the top 5 among the highest-paid linebackers.
Fred Warner is the highest-paid linebacker at $21 million per year. Roquan Smith is next with an annual average of $20 million. Then, there's a bit of a dropoff. Tremain Edmunds ranks third at $18 million per year.
Here's the thing, though, off-linebacker don't usually get premium rates, and only the very good ones get top-market contracts. Having said that, Lloyd will probably garner plenty of interest if he sniffs free agency, so there's a chance he'll want to see what kind of offers he gets.
Should the Jaguars re-sign Devin Lloyd?
That's a tough question. You could argue that Devin Lloyd should take one for the team and take a hometown discount, but nobody should blame him if he wants to maximize his earning window as much as possible. After all, NFL players only have a finite amount of time to make money before they hang up the cleats.
So let's say Spotrac overestimated Lloyd's market value, and $15 million per year gets a deal done, should the Jaguars pull the trigger? It depends on how much of a priority he is. Running back Travis Etienne and wide receiver Jakobi Meyers are also scheduled to hit the open market, while defensive end Travon Walker will enter the last year of his rookie contract. Jacksonville won't be able to pay all and will need to decide whom to keep.
And that's the thing, Lloyd was unremarkable before 2024. He wasn't bad but wasn't great either. The California native was either inconsistent or didn't make enough big plays. Of course, players' readiness is always variable, and he probably needed a bit of time to hit his stride. He's pulled it off under defensive coordinator Anthony Campanile.
This season, Lloyd has logged four interceptions (one returned for a touchdown), four passes defensed, 1.5 sacks, and 51 total tackles in 10 games. The Jaguars could most definitely continue to use that kind of production at linebacker. Couple that with the 2021 first-round pick has improved in coverage, arguably the biggest weakness in his arsenal in past years, and you could make the case that re-signing him is a no-brainer.
Ultimately, it will be interesting to see if the Jaguars are willing to meet Devin Lloyd's contract demands and how much room there is for negotiation. But in case they let him walk, another team will gladly pay him whatever amount he asks for.