3 moves the Jaguars can make to create $40 million in cap space entering free agency

The Jacksonville Jaguars have begun to make moves ahead of free agency. After making a few cap-saving moves, they used the franchise tag on outside linebacker Josh Allen to ensure he doesn't go anywhere. They also brought back offensive guard Ezra Cleveland on a three-year deal worth $28.5 million and later restructured right guard Brandon Scherff's deal.

Before locking up Cleveland, the Jags had around $24 million in space. That won't be nearly enough if they want to keep Calvin Ridley and/or make a couple splash signings in free agency. So what can the team's brass do to get more cap room? Here are three moves that would create around $40 million in savings.

3. Giving Josh Allen an extension, give push 2024 money to future years

The Jaguars couldn't agree to a long-term deal with Josh Allen before the start of free agency, so they used the franchise tag to keep him from leaving. John Shipley of Sports Illustrated reported that both sides made progress, so it looks like they should eventually strike a deal.

Having the former first-round pick play under the tag in 2024 would take $24 million in space. Conversely, an extension could give him a base salary of $5 million next season and convert the other $19 million into a signing bonus that they can spread over the duration of the contract. This especially makes sense if it lasts four or five years.

Sure, Allen would have bigger cap hits in later years but the team's brass could make a contract adjustment down the road.