The Jacksonville Jaguars will need to revamp their roster in the offseason if they want to keep up with the Houston Texans. To ensure they have a legitimate shot to challenge their division foes in 2024, the Jags should make a couple of splash signings in free agency.
The only thing impeding them from doing so is that the Jags currently have $11.5 million in space, per Over The Cap. And that's without accounting for outside linebacker Josh Allen's pending extension (or the franchise tag in the worst-case scenario).
On top of that, the team's brass needs to decide whether they'll bring back wide receiver Calvin Ridley. If they do, they'll have to give him a long-term deal. Fortunately, Jacksonville can free up a considerable amount of space if they rework a handful of deals. These make the following four players candidates to have their contracts tweaked.
4. Darious Williams, cornerback
Cornerback Darious William's contract situation will be worth keeping an eye on in the upcoming months. Having signed a three-year deal worth $30 million in 2022, he's scheduled to count $11.5 million against the cap in 2024. However, most of that money isn't guaranteed, so the front office could create $11 million in cap space with a reasonable cap hit of $500,00 if they move on from him.
The downside of releasing Williams is that he was one of the Jaguars' best defensive players last year. Besides registering four interceptions, one returned for a touchdown, and a team-best 19 passes defensed, he managed to stay healthy throughout the season and start all 17 games.
All things considered, paying $11.5 million for a starting cornerback is a reasonable price. Of course, there's the question of whether Williams will fit Ryan Nielsen's heavy press system, but the Jaguars could keep him for one more year and find out.
At worst, Jacksonville should let him stick around for training camp and if he struggles to adjust, they should then place him on the trade block. Conversely, the Jaguars should add one year to his contract and move some of his salary to 2025 if he thrives early on. Heck, an extension shouldn't be ruled out.
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3. Brandon Scherff, right guard
The Jaguars had a hard time protecting Trevor Lawrence and paving lanes in the running game last year. The source of the problem has been the offensive line, particularly inside. There was a revolving door at left guard, while center Luke Fortner and Brandon Scheff underperformed.
In Fortner's case, he regressed and the Jags cannot afford to go with him as the starting center one more season. On the other hand, Scherff will give them an interesting decision. A first-round pick by the Washington Commanders in 2015, the former Iowa Hawkeye inked a three-year deal worth $49.5 million with the Jags in 2022. Although he sat out 24 games from 2017-2021, he's made 34 consecutive starts in Jacksonville.
That said, Scherff's play hasn't been proportional to his salary. A five-time Pro Bowl nod in Washington, he's been good but not great with the Jaguars. In his defense, he played through an ankle injury last year and an abdomen injury throughout most of the 2022 season.
It's fair to assume that Scherff could regain his Pro Bowl shape if he manages to be healthy in 2024. Moreover, he's been named team captain twice, so the Jaguars may want to give it another chance to work out. They could either give the veteran guard a short extension or add void years to his contract, pushing most of his $9 million salary in 2024 to the future.
Either way, Jacksonville may be inclined to keep Scherff around, especially if they want to bolster the left guard and center positions in the offseason.
2. Foyesade Oluokun, linebacker
Linebacker Foyesade Oluokun has been a mainstay of the Jaguars' defense since he joined them in 2022, becoming one of their most prominent players on and off the field. He led the leagues in tackles in 2021-2022 and finished fourth last year. Off the field, he took it upon himself to provide guidance to his younger teammates last offseason. Simply put, he's been everything Jacksonville bargained for and then some.
Oloukon is now entering the last year of the $45 million deal he inked in 2022 and there are many routes the team's brass could take. They could outright release him and free up $7.24 million in cap space with $14 million in dead money. The issue with that is that Chad Muma, a third-round pick in 2022, may not be ready to join the starting lineup.
Muma flashed as a rookie but struggled when called upon last year. Maybe he'll make a leap in training camp, and earn a chance to complete for a bigger role. However, he's not done enough to make you think he will. Going back to Oluokun, he could get an extension and push some of his salary for 2024 for future years.
Then again, there's a new defensive coordinator in town, Ryan Nielsen, and it's uncertain if Oloukun may be a fit in his scheme, something that could complicate his future in Jacksonville beyond 2024.
The best course of action would then be to add void years to Oluokun's contract. General manager Trent Baalke has previously done it in the past, and he could do it again to get a bit of breathing room ahead of free agency.
1. Zay Jones, wide receiver
Like many players on this list, wide receiver Zay Jones was a member of the 2022 Jaguars free agent class that played a huge role in their recent turnaround. A second-round pick in 2016, Jones had shown previously in his career that he could make plays but wasn't able to do it on a consistent basis. It wasn't until he joined the Jaguars that he put it all together, setting new career bests for catches and receiving yards in his first season in Jacksonville.
Unfortunately, Jones wasn't able to build on his successful 2022 campaign, with injuries being the main culprit. Specifically, a PCL injury forced him to sit out eight games and he wasn't himself when he was on the field, registering 34 receptions for 321 yards with two touchdowns. Now, the veteran wideout is set to enter the last year of the three-year pact worth $24 million he signed in 2022. He's slated to have a cap hit of $10.7 million but the Jaguars can recoup $4.1 million in space with $6.5 million in dead money if they release him.
While the prospect of moving on from him may be tempting, releasing Jones would create a void at receiver. As it is, the Jaguars must choose what to do with Calvin Ridley. If he and Jones leave in free agency, that would create a need on top of the ones they already have, so they will probably keep one of the two. In Jones' case, he will probably be incentivized to bounce back from an underwhelming season in order to increase his stock for 2025.
At this point, it would make sense to give Jones an extension but restructuring his contract would most definitely benefit him and the Jaguars. By remaining in a familiar place, he won't have to start over, so his chances of getting back on track will go up. Meanwhile, the Jaguars will be able to focus on filling other roster holes in the offseason.