The Jacksonville Jaguars probably thought it was Christmas when the NFL announced that the salary cap for 2026 would be more than $20 million higher than originally expected. While the increase alone won't help them get out of the red, it will most definitely help them manage the cap.
Granted, the front office will still need to restructure a few deals and release a handful of players. Having said that, the extra amount could ultimately help them retain one of their biggest defensive pieces.
The NFL salary cap boost gives the Jaguars a better chance or re-signing Devin Lloyd
Before the league announced that the cap was going up, the Jaguars were around $21.9 million in the red. That amount appears to be $13 million now, so they will still have their work cut out for them to get under the cap. That said, it's a more manageable amount, and once they get enough space, they could get in touch with Devin Lloyd and his team to work out a deal to keep him in Duval for years to come.
A first-round pick in 2022, Lloyd is one of the team's most prominent players scheduled to hit the open market. One of the reasons the team's brass didn't pick up the fifth-year option in his rookie deal was that he was good but not outstanding in his first three NFL seasons. That changed after the arrival of defensive coordinator Anthony Campanile in 2025.
With Campanile's coaching, Lloyd improved in coverage, the weakest part of his game, and registered a career-high five interceptions last season. His banner season earned him a Second-Team All-Pro designation, and he was later named to the Pro Bowl. Simply put, his stock is at an all-time high, which could make it season for Jacksonville to keep him from leaving.
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The Jaguars may have trouble re-signing Devin Lloyd even after the salary cap increase
The Jaguars will have more space to maneuver this offseason, but that won't change Devin Lloyd's contract demands. He'll still (rightly) want to get a deal that reflects his status as an ascending star. Currently, Spotrac values him at $20.1 million per year. He may ultimately not get that amount, but he'll be one of the highest-paid off-linebackers in the NFL when everything is said and done.
At this point, a contract that pays Lloyd between an annual average of $16 million to $18 million seems reasonable, and that will probably exceed Jacksonville's budget. On top of that, cornerback Montaric Brown and running back Travis Etienne are also slated to hit the open market, and there's a chance the front office will also make a push to keep both of them since re-signing them may be cheaper.
It's also worth noting that, as much as the Jags would love to keep Lloyd, they also have to make upgrades at defensive tackle, the pass rush, and cornerback. Those could end up being bigger priorities than re-signing him.
The bottom line is that the odds of re-signing Devin Lloyd after the cap increase, but it's far from a guarantee that the Jaguars will pull it off.