5 Jaguars salary-cap decisions the Jacksonville Jaguars will have to make in 2024

3. What will the Jaguars do with Zay Jones?

The Jaguars raised eyebrows when they gave Zay Jones a three-year deal, $24 million deal in 2022. At the time of the signing, he had registered more than 600 or reached the end zone more than eight times in a season just once. With a big chip on his shoulder, Jones proved he was worth the hefty contract he inked, setting new career highs for catches and receptions in a season.

Heading into the 2023 season, Jones was expected to build off of his first season with the Jaguars. Unfortunately, a PCL injury hampered his production throughout the year, limiting him to just eight games and a paltry 34 receptions for 321 yards with two touchdowns. Had the former East Carolina Pirate not gotten hurt last year, his future in Jacksonville wouldn't be in doubt, but there's a chance he may not be back in 2024.

Jones has shown he can deliver, and he should have enough time to get healthy next season. That said, the Jaguars could get $4.1 million with $6.5 million in space if they let him walk. If they believe he could bounce back, the front office will keep him around. Heck, they could even convert some of his 2024 salary into a signing bonus and push a bit of his cap hit to next year.

An alternative is to give the veteran wideout an extension (and push some of the money to 2025) if they aren't thrilled about looking for wide receiver help in free agency or the draft. And that's the thing, Calvin Ridley is set to hit the open market. If they let him walk and release Jones, they would have to add two receivers in the offseason. That doesn't appear to be a practical course of action.