New York Jets has updated the salary cap situation

New York Jets, Robert Saleh, Joe Douglas
Head Coach Robert Saleh practices during the Jet Fan Fest held at the 2022 New York Jets Training Camp in Florham Park, NJ on July 30, 2022. The Jet Fan Fest was held at the 2022 New York Jets Training Camp in Florham Park, NJ on July 30, 2022

A topic of conversation for New York Jets fans entering a monumental 2023 offseason has been the state of the team’s salary caps.

After back-to-back big-spending off-seasons, the team is in a very different financial situation. For the first time since Joe Douglas and Robert Saleh have managed this football team, the Jets can’t just go free and pay whoever they want.

Over The Cap recently shared their current salary cap range for each team in the league. It’s safe to say the Jets have some tough decisions to make.

Current salary cap room for the New York Jets:

The projected salary cap for the 2023 NFL season is $225 million. For the Jets, that budget grew to just over $228 million thanks to the $3 million in caps they had as of 2022 that carried over.

With that total budget of $228 million for the Jets to work with and $230 million in commitments, that means the Jets are $2.4 million over budget. Between releases and potential reshuffles, the Jets have a lot of work to do.

With the obvious need for a quarterback, major concerns across the offensive line, safety issues, not to mention the extension of Quinnen Williams and many key free agents of their own, Douglas and Saleh need to get creative to address it all.

In terms of release-worthy players, it’s worth noting Carl Lawson ($15.4M), Duane Brown ($4.9M), Corey Davis ($10.5M), and Braxton Berrios ($5M). Overall, a potential $35.8 million that the Jets could release.

When it comes to potential contract reshuffles, CJ Mosley and John Frankin-Myers are two players who could revisit their deals. First, both players are under contract beyond 2023. Mosley has an astronomical cap of $21.4 million, and lowering it would remove some financial burdens. Franklin-Myers, with its very low $400,000 prorated bonus amount and three years remaining for the Jets, is a more than logical way to restructure deals.

The final point worth noting is that Douglas and Saleh have plenty of funds to spend in 2024. Right now, the Jets have a $112 million cap, which gives them a few different luxuries. They can reload all free agent signings this offseason with big signing bonuses, similar to the contract structures they practically gave free agent signings last offseason. It also makes reorganizations much more viable for players like Franklin-Myers and Mosley.

The Jets are gearing up for a crucial offseason, now the third of the Douglas and Saleh era. Getting the salary cap in better shape will be the first step in improving this roster with playoff expectations coming up next year.