Jets’ Salary Cap After Michael Carter II Contract, Reworked Deals amid Reddick Rumors

Julia StumbaughSeptember 3, 2024

Cooper Neill/Getty Images

The New York Jets restructured the contracts of linebacker Quincy Williams and tight end tight end Tyler Conklin to create $8 million in additional cap space, according to ESPN’s Field Yates.

Shortly after the restructuring of Williams and Conklin’s contracts, NFL Network’s Tom Pelissero reported the team had signed cornerback Michael Carter II to a three-year, $30.75 million deal.

The contract included $19 million in total guarantees, per Pelissero.

Tom Pelissero @TomPelisseroThe #Jets and CB Michael Carter II agreed to terms on a three-year, $30.75 million extension that can be worth up to $33M, with slightly over $19M in total guarantees. Carter is now the highest-paid slot corner in the NFL.

Deal done by Kelton Crenshaw of Klutch Sports Group. pic.twitter.com/NpLPrhCoPB

The Jets had approximately $19.5 million in cap space before signing Carter, per Spotrac. Carter will earn an annual average of $10.25 million on the new deal, which could drop the 2024 cap space down to about $9.25 million, depending on the terms of the deal.

The total also does not include a new contract for pass rusher Haason Reddick, who is currently holding out for a new deal.

The Jets could choose to pay Carter some of the money in the form of a prorated signing bonus, which could be spread out over the length of the contract in order to ease the corner’s cap hit this season.

That could help the Jets maneuver around Reddick’s projected 2024 cap hit. According to ESPN’s Rich Cimini, Reddick wants to be one of the highest-paid edge players in the NFL, a goal could put his salary in the range of $30 million per year.

The San Francisco 49ers’ Nick Bosa is currently the NFL’s highest-paid EDGE with an average annual salary of $34 million.

The Jacksonville Jaguars’ Josh Hines-Allen, New York Giants’ Brian Burns and Pittsburgh Steelers T.J. Watt also exceed an average of $28 million per year, with the Cleveland Browns’ Myles Garrett coming behind with a $25 million yearly average.

Reddick has reason to rank himself among these top pass rushers. Over his past four seasons with the Arizona Cardinals, Carolina Panthers and Philadelphia Eagles, Reddick has ranked fourth only to the Cincinnati Bengals’ Trey Hendrickson, Garrett and Watt with a total of 51 sacks.

Under his current contract, Reddick was set to cost the Jets $14.5 million against the cap for the 2024 season.

The Jets acquired Reddick from the Eagles in April after losing Bryce Huff to Philadelphia in free agency.

Although Reddick reportedly requested a trade from the Jets in August, the team still needs a pass-rushing replacement for Huff. With time running out before the regular season kicks off on Monday against the San Francisco 49ers, more cap moves might be needed in order to resolve the ongoing holdout with Reddick.