The NFL is finally on the other end of the COVID-19 pandemic, at least financially. The league informed its teams that the salary cap for the 2023 season will be $224.8 million, sources confirmed to SNY.
The figure marks a steep increase from the $208.2 million the league had set for last season. In 2020, after the pandemic forced fans from stadiums, the cap dropped eight percent, to $182.5 million.
The figure leaves the Jets with negative-$2.7 million in salary cap space, meaning GM Joe Douglas has some work to do to not only get the Jets under the cap, but also give them enough room to make moves this offseason.
The Jets would like to not only add a veteran quarterback, which would be pricey, but shore up their offensive line, too.
Receiver Corey Davis is the most likely cap casualty for the Jets. Releasing the veteran, who caught just 66 passes for 1,028 yards and six touchdowns in 22 games over the last two years, would free $10.5 million with just a $666,000 cap penalty. Davis has not lived up to expectations after the Jets signed him to a three-year, $37.5 million deal in 2021. The Jets would also free significant space with the releases of receiver Braxton Berrios ($5 million), safety Ashtyn Davis ($2.7 million) and special-teamer Justin Hardee ($2.35 million).
Those transactions would add $20.55 million, and put New York $17.85 million under the cap. That figure would be 10th-most in the NFL.