Jacksonville Jaguars reportedly free up $26M in cap space: 3 moves to make in NFL free agency

Credit: Robert Scheer/IndyStar Staff-USA TODAY Sports

This week, the Jacksonville Jaguars opened up a sizable amount of cap space that should now allow them to make some notable additions in 2023 NFL free agency.

Last year, the Jacksonville Jaguars were major players in free agency, as they handed out a massive amount of money to players like Christian Kirk, Brandon Scherff, Foyesade Oluokun, and Evan Engram. Heading into this offseason, the team was expected to have limited flexibility when it came to making moves on the open market. However, that changed in a major way on Tuesday.

Just a couple of weeks before the new NFL year begins and free agents can take offers from other teams, the Jacksonville Jaguars reportedly freed up just over $26 million in cap space by converting nearly $33 million worth of money on the contracts of Kirk, receiver Zay Jones and Scherff into signing bonuses.

Related: Bold predictions for 2023 NFL free agency – Destinations for top 50

With the team taking major leaps forward in 2022 by winning the AFC South, the Jacksonville Jaguars are not too far from being contenders to reach the 2023 Super Bowl from the AFC. With that in mind, these are three players the franchise should target in free agency to improve or maintain their improved level of play next season.

Jacksonville Jaguars must re-sign Evan Engram

There is a good chance that the Jaguars freed up cap space with the specific purpose of having money to sign tight-end Evan Engram to a long-term deal. In his first season with the Jaguars, the one-time Pro Bowler had one of his best seasons as he hit career-best marks in yards, receptions, and games played.

He was a reliable target for quarterback Trevor Lawrence all season and they need him back if they hope to maintain the offense’s impressive level of play from 2022.

Jacksonville adds impact pass rusher in Yannick Ngakoue

The Jacksonville Jaguars’ offense was the strength of the team last season, which means they need some more help on defense. One problem area was slowing down the opposing team’s passing game, as the Jags had just 34 sacks as a team last season. Finding some pass-rush help should be a priority with the extra cap space.

One possible option in NFL free agency would be Raiders and Colts veteran Yannick Ngakoue. The 27-year-old has posted eight sacks or more in seven of his nine seasons, including 10 and 9.5 in the last two seasons. He could be a major difference-maker in Jacksonville next season.

Jaguars should target Patrick Peterson

Getting turnovers is another area where Jacksonville can improve in 2023, and one player that has excelled at that during his career is eight-time Pro Bowler Patrick Peterson. The 32-year-old is no longer in his prime, but he still has a nose for the football and proved it again with five interceptions for the Vikings last season.

The fifth overall pick in the 2011 draft would not only be a worthwhile addition to the defense, but he has a winning pedigree that is needed for a Jacksonville Jaguars locker room with a mostly young core of stars.

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