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

2. The Jaguars can release Zay Jones to create $4 million in space

Before the Jags reworked Brandon Scherff's deal, he seemed like a cap casualty candidate. Had he been released, they would've gotten $9 million in space. However, the team's brass chose to keep him around and turned some of his 2024 salary into a guarantee that will count toward the cap in future years.

If the Jags want to keep creating space, they should turn to wide receiver Zay Jones. A second-round pick in 2016, Jones played for the Buffalo Bills and Las Vegas Raiders before joining the Jags in 2022. While his signing raised eyebrows around the league, he proved that the Jags had made a sound investment, setting new career bests for yards and catches in a season.

Unfortunately, Jones wasn't able to have the same kind of impact last year. A PCL injury limited him to eight games and a measly 34 receptions for 321 yards with two touchdowns. If the Jaguars don't think the former East Carolina Pirate can bounce back next season, they can release him and create $4.1 million in space. Having said that, there are a couple things that could prevent the Jags from moving on from Jones.

The first one is that cutting ties with Jones would create a need at wide receiver. On top of that, there's a chance the Jaguars will lose Calvin Ridley in free agency. If they do, they're better off holding on to Jones.

This is to say that the front office should only move on from Jones if they manage to retain Ridley and find his replacement in free agency or the draft. If they cannot check off both boxes, the risk of releasing him will outweigh the benefits.