The Jaguars wouldn't have to invest much to bring Michael Carter into their backfield
The Jaguars took a conservative approach in free agency after going on a spending spree and making several splash signings in 2022. This makes sense when you take into account that they'll have to make several important contract decisions next offseason. However, bringing in Michael Carter wouldn't likely affect their budget.
Carter is in the third year of his rookie deal. If he cleared waivers, he would then become a restricted free agent, meaning that the Jags could negotiate a one-year or a long-term deal. If another club matched their offer, they would then need to compensate Jacksonville. It may be a bit confusing but the point is that whether he's claimed or becomes a restricted free agent, Carter wouldn't require a big investment.
Let's say the Jaguars claim him off, they would then be on the hook for the remainder of his salary this year and the $1.256 million he's set to make in 2024. That's an affordable price to pay for a player who could potentially be a No. 2 or 3 in your running back room.
One potential roadblock to the Jaguars signing Carter is that they might not be willing to demote Bigsby yet given that they invested a third-round pick on him. However, giving him more opportunities when he's failed to take advantage of the ones he's been granted would be a mistake. Bringing him Michael Carter and giving him a chance to show he deserves some carries would be a way to mend that mistake.