The Jacksonville Jaguars did a superb job of addressing the larger scale roster in James Gladstone's first year as the general manager. However, they'll need to take care of several needs in 2026 if they want to return to the playoffs. The issue is that the Jags will be dealing with a different set of challenges this offseason. The biggest one will be retaining key free agents with a limited amount of cap space.
After signing several players to reserve/future contracts, Jacksonville is $17 million over the cap. Gladstone will need to restructure a few contracts and make a handful of roster moves just to get out of the red. This could make it difficult to re-sign Devin Lloyd, who was recently dubbed a player the team cannot afford to lose.
Devin Lloyd was named a free-agent the Jaguars cannot afford to lose
Bradley Locker of Pro Football Focus recently drew up a list of players each NFL club cannot let walk in free agency and chose Devin Lloyd for the Jaguars, noting that he's one of the best linebackers in the NFL.
"The former first-round pick dominated at the perfect time," Locker wrote. "Lloyd garnered an All-Pro nod due to his 88.4 PFF overall grade, which ranked second to only Jack Campbell among qualified linebackers. On top of that, Lloyd slotted in the top 10 at the position in both PFF run-defense and coverage grades, and he tied for fifth in PFF WAR."
Locker continued, "An inherent risk comes with paying linebackers handsomely. But at 27 and after playing like one of the best at his position, Lloyd could receive $15 million or more per year. The Jaguars should exhaust their funds to make that happen."
A first-round pick in 2022, Lloyd had the fifth-year extension on his rookie deal declined after three good, not great, seasons. While the former Utah Ute was a stud against the run, he struggled in coverage and failed to make enough game-changing plays. That all changed in 2025, when he put it all together under defensive coordinator Anthony Campanile.
Under Campanile, Lloyd showed notable improvement when he dropped back and registered five interceptions, tied for the most among Jaguars players in 2025. Following his breakout season, Spotrac set his valuation in free agency at $20 million per year.
Lloyd may not get that amount, but he probably won't get less than $16 million per year either. The problem is that the Jaguars may still have trouble re-signing him before he hits the open market.
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The Jaguars are at risk of losing Devin Lloyd in free agency
Aside from Devin Lloyd, running back Travis Etienne, and cornerback Montaric Brown are scheduled to become free agents. It's hard to picture the Jaguars bringing all three back. And of the bunch, Lloyd will be arguably the toughest to re-sign, as he'll command the biggest contract. James Gladstone, for one, doesn't sound overly confident they'll pull it off.
On the off chance that the Jags do re-sign Lloyd, they would have trouble making any meaningful moves in free agents. But if they let him leave, and that's the most likely outcome, the team's brass will need to fill a massive void in the linebacker corps.
Fourth-year pro Ventrell Miller would be the first in line to replace Lloyd. After missing his rookie campaign, the former Florida Gator flashed in 2024. However, he didn't do much of note last season, so the Jags may want to bring in competition in case he isn't up to the task. Jack Kiser is also in the mix and could also get a look, but it wouldn't hurt Jacksonville to invest a couple of draft picks in the position.
Losing Devin Lloyd would be a massive blow for the Jaguars, but re-signing him doesn't appear to be feasible. Right now, he looks like a good bet to hit the open market.