5 NY Jets players most likely to have their contracts restructured this spring

NY Jets general manager Joe Douglas is well aware that he needs to put his team in a position to contend in 2024 or else he likely won't see another offseason with the organization. Doing that may be easier said than done, but there is a pre-established foundation in place.

The Jets have a talented young core and one of the best defenses in football. This offseason will be about plugging holes — primarily on offense — and suplementing the roster with additional talent.

To do so, the Jets will have to free up some money. The Jets enter the offseason with under $5 million in projected cap space, per Over The Cap. They'll need to find ways to create some extra cap space.

While releasing players is the obvious move, the Jets are almost definitely going to heavily utilize contract restructures this offseason. Who are the most likely candidates for a restructure? We take a look at five prime options for the Jets.

*All projections are via Over The Cap*

5. Tyler Conklin, TE, NY Jets

Tyler Conklin will be entering the final year of the three-year, $20.25 million contract he signed with the Jets prior to the start of the 2022 season. He's quietly been one of Joe Douglas' greatest free-agent success stories to this point.

Conklin put together a career year in 2023, finishing with 61 catches for 621 yards — both of which were career highs. He's one of the most underrated players on the roster and one of the few reliable building blocks on offense.

His 2024 cap hit currently sits at $9.33 million, and while the Jets could save over $5 million by releasing him, it's much more likely they go the restructure route.

Restructuring Conklin would create an additional $3.92 million in cap space in 2024, pushing dead money into the future. The Jets already restructured Conklin's contract last offseason — don't be surprised if they do it again.

4. D.J. Reed, CB, NY Jets

D.J. Reed isn't going anywhere. The former San Francisco 49ers draft pick remains an integral part of the Jets' defense and is one of the biggest reasons the team's secondary is as dominant as it is. Without Reed, there is no star Jets cornerback trio.

Still, it might make sense for the Jets to find a way to lower his $9.32 million cap hit in 2024. While that figure is undoubtedly a bargain for Reed at this stage, the Jets will be looking to free up as much space as they can.

Restructuring Reed would create an extra $7 million in cap space for the Jets this season. There is another, perhaps more appealing, route the team could take as well.

It might make sense for the Jets to explore an extension for Reed, who is entering the final year of his deal. Extending Reed would create $7.5 million in cap space in 2024 and would lock up an important part of the Jets' defense for the next few years. At only 27 years old, it's probably worth it.

3. Laken Tomlinson, OG, NY Jets

The Jets are likely going to do something with Laken Tomlinson's contract this offseason. The former Pro Bowl offensive guard is due to have a 2024 cap hit of $18.88 million, which ranks as the third-highest on the team.

Not only has his production not matched that figure, but it's also an extremely high number for a player whose contract is pretty flexible. The Jets could simply release Tomlinson and save $8.14 million, but doing so would also incur a dead cap hit of over $10 million.

The safe bet is to assume Tomlinson sticks around as a starter in 2024. The Jets value his leadership and durability, even if his on-field play has been lackluster, to say the least.

That could lead the Jets to restructure Tomlinson's contract, which would create $8.54 million in cap space. While a straight-up release is not out of the question, it's more likely the Jets lower Tomlinson's cap hit via a restructure.

2. John Franklin-Myers, DE, NY Jets

John Franklin-Myers remains one of the most underappreciated players on the Jets' roster. The former waiver-wire pickup finished the 2023 season with 50 total pressures and a higher pressure rate than Jermaine Johnson, but his name is rarely brought up when discussing the team's stacked defensive line.

Franklin-Myers fills a role that no other player on the Jets' roster can fill at the level he does. For that reason, it wouldn't be wise for the team to outright release him this offseason, even though doing so would save $7.3 million in cap space.

The Jets would be wise to explore a restructure, however, with Franklin-Myers' 2024 cap hit set at a whopping $16.36 million in 2024. That's the fifth-highest on the team.

Restructuring Franklin-Myers' contract would create $9.2 million in cap space and mark the second consecutive offseason that his deal has been reworked. Joe Douglas isn't focused on the future, though. Kick that can down the road if you must.

1. C.J. Mosley, LB, NY Jets

C.J. Mosley is slated to have the highest cap hit of any player on the Jets' roster in 2024. He will be entering the final year of the market-setting five-year, $85 million contract he signed with the Jets all the way back in 2019. He's one of the few holdovers from the Mike Maccagnan era.

Mosley's Jets career has had its ups and downs, but he's coming off what might be his best season with the organization. He remains the captain of the Jets' defense and is an irreplaceable player in many ways.

That said, the Jets need to find a way to lower his cap hit. Releasing Mosley saves over $11 million in cap space, but it's hard to imagine the Jets go that route. He's simply too valuable to the defense.

The Jets have already restructured Mosley's contract, as he's on the books for dead cap through the 2026 season. They'll likely have to add to that dead cap, however, as another restructure would free up $10.5 million in cap space. Epxcet that to be the route the Jets take.