Salary cap space is something of a conundrum when fans look at it. Many fans hear what the media has to say and assume it’s correct. However, the media often exaggerates things when it comes to the cap. This, then, puts fans into a frenzy.
In a recent article, the cap was gone over.
Many fans believe if the Jets maneuver their cap space in 2024, they won’t be able to keep everyone they want to in 2025. That’s actually not true.
Michael Carter II is in the final year of his rookie deal this season. Additionally, Jermaine Johnson, Breece Hall, and Garrett Wilson are all eligible for contract extensions next season. Those are the four key players in this discussion.
Let’s take a look at the impact of some major moves.
Jets current 2025 cap space: $71,887,986
Freeing Up Cap Space Won’t Hurt Extending Young Jets
Quinnen Williams: Restructure
There are two different types of restructures. The Jets would do a simple restructure with Williams because it wouldn’t require his approval. His current base salary is $15.65 million. A restructure would knock it down to $1.125 million (league minimum for five accrued seasons). Then, the $14.525 million would be spread over the five years remaining as a signing bonus. This would save the Jets $11.62 million this season, but add $2.905 million next season.
D.J. Reed: Extension
Current Reed deal
Base salary: $10.5 million
Prorated signing bonus: $4,695,000
Per game roster bonus: $441,176 (LTBE), $58,824 (NLTBE)
2024 Cap hit: $15,636,176
Current 2025 Cap hit (three void years): $4.62 million
Sample Extension: 2 years, $23 million, $16.5 million guaranteed at signing ($9.375 million signing bonus)
2024
Base salary: $1.125 million
Prorated signing bonus: $7,038,750
Per game roster bonus: $441,176 (LTBE), $58,824 (NLTBE)
Cap hit: $8,604,926
2025
Base salary: $12 million ($6 million guaranteed)
Prorated signing bonus: $3,883,750
Cap hit: $15,883,750
Cap Savings: -$7,278,824
Michael Carter II 2024 extension
4 years, $26.36 million, $15,366,000 guaranteed ($2.311 million signing bonus)
2024
Base salary: $1.055 million
Prorated signing bonus: $658,482
Cap hit: $1,713,482
2025
Base salary: $6 million ($6 million guaranteed)
Prorated signing bonus: $576,250
Cap hit: $6,576,250
You also have to look at the fact that Allen Lazard is likely not going to be on the Jets in 2025. That cut will result in a savings of $6,632,000.
Now, let’s look at sample contract extensions for Hall, Wilson, and Johnson.
Garret Wilson
Current 2025 cap charge
Base salary: $1.1 million (fully guaranteed)
Prorated signing bonus: $3,032,092
Roster bonus: $2,407,819 (fully guaranteed)
Cap hit: $6,539,911
New contract: 5 years, $106 million, $60 million guaranteed ($25 million signing bonus)
Base salary: $1.1 million (fully guaranteed)
New prorated signing bonus: $8,032,092
Roster bonus: $2,407,819 (fully guaranteed)
New cap hit: $11,539,911
Cap Savings: -$5 million
Sauce Gardner
Current 2025 cap charge
Base salary: $1.1 million (fully guaranteed)
Prorated signing bonus: $5,376,963
Roster bonus: $4,166,473 (fully guaranteed)
Cap hit: $6,539,911
New contract: 4 years, $93.1 million, $68.1 million guaranteed ($25 million signing bonus)
Base salary: $1.1 million (fully guaranteed)
New prorated signing bonus: $10,376,963
Roster bonus: $2,407,819 (fully guaranteed)
New cap hit: $15,643,436
Cap Savings: -$4.9 million
Jermaine Johnson II
Base salary: $2,489,652 (fully guaranteed)
Prorated signing bonus: $1,674,535
Cap hit: $4,164,187
New contract: 4 years, $88.1 million, $68.1 million guaranteed ($25 million signing bonus)
Base salary: $1.1 million (fully guaranteed)
New prorated signing bonus: $6,874,535
Roster bonus: $2,407,819 (fully guaranteed)
New cap hit: $13,382,354
Cap Savings: -$9,218,167
Breece Hall
Base salary: $1,934,286 (fully guaranteed)
Prorated signing bonus: $934,049
Cap hit: $2,868,335
New contract: 3 years, $28,934,286, $16,934,286 guaranteed ($5,934,286 signing bonus)
Base salary: $1.1 million (fully guaranteed)
New prorated signing bonus: $2,878,811
New cap hit: $3,978,811
Cap Savings: -$1,110,476
After all of the following moves, the Jets would still have $41,531,269 in cap space left for 2025. The deals for Gardner and Johnson include two years of guaranteed option bonuses, which lowers the cap hits for 2026 and 2027 because they are treated like signing bonuses. That helps with those two years.
In the end, the Jets do have the possibility of signing young core players and maneuvering the cap for 2024. So, they absolutely should make some moves.
Main Image: Vincent Carchietta-USA TODAY Sports
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