Jaguars’ Cap Situation Is Far From Ideal, but Is Still Manageable

The Jaguars have a lot of work to do to fix their cap situation for 2020, but it isn't quite impossible.

For the past several months, the Jacksonville Jaguars have been tabbed by national media as one team preparing to enter cap space disarray. Following a massive contract handed out to Nick Foles in 2019, and a few other big-money deals general manager Dave Caldwell and former front office executive Tom Coughlin handed out, the team is slated to enter the 2020 offseason with essentially zero cap room. 

According to Spotrac, the Jaguars are currently slated to have the third-fewest funds in available cap space if the roster stands as it is today, with $-5,604,246. This is clearly far from ideal, especially considering the Jaguars have one of their top players on an expiring contract in defensive end Yannick Ngakoue. Ngakoue wants a huge payday from somebody, and the Jaguars' cap situation currently doesn't make it easy for them to get this done.

The 5 teams with the most cap commitments currently for 2020:
1. Jaguars: $216.9M
2. Chiefs: $210.1M
3. Steelers: $206.8M
4. Bears: $202.3M
5. Falcons: $199.1M

All teams must be cap compliant by March 18, which means plenty of activity between now and then.

— Field Yates (@FieldYates) February 17, 2020

Things as of today don't look positive for the Jaguars from a cap space perspective. But does that mean this will be the situation come Mar. 18th, when free agency begins? Not quite. 

The Jaguars are already expected to make a number of moves to free up cap space before free agency begins, and they have a plethora of contracts they can move on from to do so. To show an example of how the Jaguars can quickly find cap room in 2020, we used Spotrac's roster and salary cap manager tool to see how many players the Jaguars have to cut to find significant cap relief. 

By releasing defensive tackle Marcell Dareus, the Jaguars would save $20 million right off the bat due to his massive 2020 cap figure ($22.5 million). This move alone would mean the Jaguars went from negative funds in cap space to almost $15 million. But the Jaguars' work wouldn't be done there. 

Next, the team can look into either restructuring or releasing cornerback A.J. Bouye. Bouye is still a solid player, but has only two interceptions since 2017 and is due over $15 million next season. But releasing Bouye, the Jaguars would save over $11 million, another huge cap relief. But moving on from both Dareus and Bouye, the Jaguars would have almost $26 million in cap space. 

These are the only two starters the Jaguars would really have to cut to find cap relief. Aside from them, there are a few backups who could be released to save some money, as well as a potential trade that could give the Jaguars more flexibility. 

Releasing wide receiver Marqise Lee, who is due $8.75 million in 2020, can be released to save $5.25 million. Lee has suffered two season-ending injuries in the last two seasons and has caught only three passes for 18 yards since signing a new deal in 2018. Lee's injuries aren't his fault, but with DJ Chark's emergence, there is no real reason to let him and his deal remain. 

Next, the Jaguars could release linebacker Jake Ryan, who is due nearly $6 million in 2020. Ryan played only two games last season due to injuries and didn't record a tackle, so releasing him to save $5.5 million is an easy call. 

Another backup the Jaguars could move on from to save a few million would be tight end Geoff Swaim, who signed with the team in 2019. He is due nearly $4 million in 2020, and releasing him would save $3.73 million, per Spotrac. He caught only 13 passes for 65 yards last year, so it isn't like his production would be hard to replace. 

By releasing these five players, only two of whom are projected starters and are large parts of the team, would save the Jaguars almost $46 million and give them $40.32 million in cap space, far from the disaster situation many have painted the team as being in. 

The Jaguars could find even more cap relief by attempting to trade Nick Foles, which would save the Jaguars over $3 million according to Spotrac. This would give the Jaguars $43.445 million in cap space. 

Jacksonville would obviously have to make moves to replace the suggested released players, but ultimately only two of them are major contributors as it stands today.

The Jaguars' cap situation is far from ideal. There is no way to argue this. Signing Foles to such a massive deal only a year after doing the same for Bortles has had long-term ramifications, as have other contracts the Jaguars have handed out in recent years. 

But ultimately, the current cap situation is far from a nightmare scenario the team can't find its way out of. A few prudent moves and the Jaguars will be in decent financial shape once again.