What C.J. Mosley extension means for NY Jets cap situation

The NY Jets have been semi-active in free agency to this point, and the good news is that the team still has plenty of financial flexibility to make more moves. Part of that flexibility was put into effect on Thursday morning when the Jets extended linebacker C.J. Mosley.

ESPN's Field Yates reported on Thursday that the Jets had agreed to a two-year, $17.25 million extension that includes $13.25 million in guarantees. The move allows the Jets to significantly lower Mosley's 2024 cap hit while keeping him around for an extra season.

Mosley was set to enter the final year of his contract in 2024 with a cap hit of over $21.4 million. The exact details of the contract structure are unknown at this time, but Over the Cap projects the Jets will save roughly $12.632 million in cap space as a result of this move.

The Jets were always expected to do something to lower Mosley's outrageous cap hit in 2024, and instead of going the restructure route, they simply opted to extend his contract instead.

What does the C.J. Mosley contract mean for the NY Jets cap space?

The move makes sense for both sides. The Jets likely approached Mosley about the possibility of a pay cut, and with little guaranteed money remaining on his initial contract, the All-Pro linebacker didn't have much leverage.

Both parties should be happy with the outcome, however. Mosley takes a pay cut in 2024, but he gets another year added to his contract. Both years are essentially fully guaranteed, giving Mosley added security through the 2025 season.

As for the Jets, they significantly lower Mosley's cap number and keep their defensive captain around for what appears to be a two-year Super Bowl window. The Jets' moves this offseason appear to be based around that two-year window of opportunity.

It's difficult to say exactly how much cap space the Jets currently have, as the signings of Tyrod Taylor, John Simpson, Leki Fotu, Isaiah Oliver, Chuck Clark, Thomas Morstead, and Kenny Yeboah have not become official yet.

The Jets had a little more than $11 million in cap space before Mosley's extension, but that's not including the unofficial deals for the above players.

The good news is that the Jets can very easily create more cap space if need be. They could explore restructures for players like John Franklin-Myers and Quinnen Williams and extensions for the likes of Tyler Conklin and D.J. Reed. The Jets can easily double/triple their current cap space if they want to.

This means the Jets have ample financial flexibility to make more moves in free agency. The C.J. Mosley extension certainly helps their case.