FanPost

The New 3-way trade? Looking at the Jets Cap Situation

Inspired by the Jets recent release of the much-maligned Spencer Long, I asked myself, was this a smart decision? My initial thought was yes, but then, I wondered, what if Maccagnan understood the concept of value, and did he maximize his value on this transaction? To reiterate previous points, NFL management has 2 fundamental assets: cap space, and draft capital. By releasing Spencer Long, we just increased our available cap space, and the opportunity of attracting more through the Free Agency process. But did we maximize the value?

Going into the 2018 free agency period, Spencer Long was considered to be an average guard and center. The Jets signed him for what was considered a relatively reasonable deal. There was one problem, he was terrible. Being terrible in the NFL doesn’t prevent you from finding another job though, especially if you have any track record or potential in the eyes of NFL evaluators. My point being did Spencer Long have value, to another team, if the Jets absorbed the $3MM signing bonus, and were to trade him, the other team would have a new offensive lineman with a 2019 salary of just 3.5MM. On top of that there would be 2 option years of approximately $7MM, below average when comparing to recent signings. Perhaps to some team this is a worthwhile investment for a potential starting interior offensive lineman.

There is a great chance that no team wants Long, and to be honest, any draft capital that could be acquired would be very, very small compared to $3MM. To be honest though, Mac needs to investigate and ask himself, Can I use dead cap space to acquire draft capital? Can it be done, yes? The Browns just did it. And 10MM was worth, approximately a 2nd round draft pick.

The Jets now have $100MM in cap space, and I am probably in the minor in saying I don’t want us to splurge on a lot of bad contracts. I don’t think it is wise to spend all $100MM this year. I don’t think we can get all of our number 1 targets by position. Many other teams who have a lot of cap space, like the Colts, the Bills, the Browns likely don’t want to spend up to the cap. The Jets don’t have an issue spending. How can we spend unused cap space?

In 2002, my beloved hockey team sent my childhood idol, Mike Richter to the Edmonton Oilers a couple of days before free agency. The move actually took advantage of lenient rules that more or less created a compensatory draft pick for the Oilers, because their new player, who would never suit up for them, was signed to a contract from a different team a days later in free agency. They gave the Rangers future considerations and when NY resigned him, Edmonton got a comp pick. Fascinating, right? What was unbeknownst to me at the time was the Rangers had intentions to resign him. I hope the team told Richter’s agents they intended to bring him back, and it became a move that created value for both parties. What if we could make that happen in the NFL?

How can we create value using unused cap space? How can we turn it into draft capital? How about working with NFL teams who are up against the cap and who which to retain or attract top talent for a championship push? How about a trade involving two team, and a players agent? Here is the concept I propose. Lets say the Rams want to resign Suh. Suh wants $18MM. The Rams figure they can invest $10MM and meet shape the rest of the roster with the cap cost avoidance. The Jets could effectively trade $8MM of their hard cap for draft capital, perhaps a 3rd round selection given the precedent of the Browns trade. The Jets pay Suh an $8MM signing bonus, then $10MM is what remains for the Rams. Does this trade alter the competitive balance of the league? I’d argue no. Despite the Jets having less space, their future is brighter, and the Rams get a player for 1 year they likely couldn’t afford otherwise at the expense of their future.

In summary, I think the Jets should consider trading potentially unused cap space for draft capital. It can be a tactic used in free agency, or when possibly cutting players who are due roster bonuses. Our GM needs the foresight to see these opportunities and to maximize the draft picks we have.


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