The playoffs just ended for the Jaguars, and honestly, that loss to the Bills still stings. Seeing Josh Allen shred the secondary while the pass rush went cold was a wake-up call for everyone in Duval. Now, we’re staring down the 2026 offseason, and the buzz around Jacksonville Jaguars free agency is already getting messy.
Most fans want a massive splash. They want Maxx Crosby or T.J. Watt. While those trade rumors are fun for a Friday night at a sports bar, the reality is way more complicated and, frankly, a bit of a headache for general manager James Gladstone.
The Cap Space Reality Check
Here is the truth: the Jags are basically broke right now. Spotrac has them listed with roughly $5 million in space, which puts them 23rd in the league. You can’t even sign a decent punter and a couple of draft picks with that, let alone a superstar edge rusher.
They are carrying $42 million in dead cap money. That is the third-highest in the NFL. When you’re paying that much for players who aren't even in the building anymore, your hands are tied. Gladstone and head coach Liam Coen have their work cut out for them. To make any moves in Jacksonville Jaguars free agency, they’re going to have to cut some veterans.
Arik Armstead and DaVon Hamilton are the names everyone is watching. Armstead has a $19.4 million cap hit. If they move on, they save some cash, but then they lose the guys who made the run defense number one in the league for a good chunk of 2025. It’s a classic "damned if you do, damned if you don't" situation.
The Devin Lloyd Dilemma
Devin Lloyd is the biggest name on the pending free agent list. Last year, the team declined his fifth-year option. Most people thought he was on his way out. Then, he went and made second-team All-Pro.
He had 81 tackles and five interceptions. He finally looked like the player everyone expected when he was drafted. Now, he’s an unrestricted free agent. If the Jags let him walk, they have a massive hole at linebacker. If they keep him, they likely have to use the franchise tag, which is going to eat up almost all the cap space they could possibly create.
It isn't just Lloyd, either. Travis Etienne Jr. is also at the end of his rope here. He had his third 1,000-yard season, but he slowed down a lot in the second half of the year. With Bhayshul Tuten and LeQuint Allen looking explosive in limited touches, the front office might decide that paying a running back big money just isn't the smart play in 2026.
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Who is actually staying?
- Cole Van Lanen: They already locked him up to a three-year deal. He’s the left tackle of the future. The Walker Little era is over, and honestly, it’s about time.
- Jakobi Meyers: He got an extension shortly after the trade. He’s the reliable chain-mover Trevor Lawrence needs.
- Travis Hunter: The two-way star is the wildcard. He’s coming off knee surgery, but Gladstone has already said the plan is to move him more toward a full-time cornerback role. This changes how they approach the market for defensive backs.
Targeted Needs vs. Pipedreams
Everyone is talking about Jaelan Phillips. He’s a free agent after a stint with the Eagles. On paper, he’s exactly what Jacksonville needs—a twitchy pass rusher to help Josh Hines-Allen and Travon Walker. But Bleacher Report and other experts are screaming for the Jags to stay away.
Phillips played all 17 games last year, which is great, but his injury history is a mile long. Spotrac has his market value at $17.3 million per year. For a team with no money, that’s a massive gamble on a guy who might spend half the season in the trainer's room.
If they want to fix the pass rush, they might be better off looking at a guy like Trey Hendrickson if he becomes available, or just praying they can find a gem in the mid-rounds of the draft. Since they traded away their 2026 first-round pick to get Travis Hunter, they don't have the luxury of a "sure thing" prospect at number five or ten.
Cornerback is the real priority
With Greg Newsome II and Montaric Brown hitting the market, the secondary is looking thin. Newsome didn't exactly light the world on fire last year, and he's probably going to test the open market.
Jaylen Watson from the Chiefs is a name that keeps popping up. He’s physical. He knows how to win in January. He won't cost $20 million a year. That’s the kind of "boring" signing that actually wins divisions.
How to Navigate the Next Few Months
If you're following Jacksonville Jaguars free agency, don't expect a spending spree in March. Expect a lot of "restructuring" news first. Watch what happens with Patrick Mekari and Ezra Cleveland. If those guys get cut or traded, it means the Jags are clearing room for one specific "B-tier" signing and trying to keep Devin Lloyd.
Keep an eye on the following:
- The Franchise Tag Window: If Lloyd isn't tagged by the deadline, he’s likely gone.
- The Veteran Cut Day: Watch Arik Armstead's status. His departure would signal a total shift in the defensive philosophy.
- Internal Extensions: If they can't afford outside stars, they’ll try to lock down guys like Andrew Wingard or Austin Johnson on team-friendly, two-year deals.
The Jags aren't in "rebuild" mode—they won the AFC South, after all—but they are in a "financial squeeze" mode. Success in 2026 won't come from signing the biggest name on the board. It’ll come from Gladstone finding three or four starters at bargain prices while Trevor Lawrence continues to mask the issues on the offensive line.
The real work starts now. Duval is watching.
Actionable Next Steps
Check the official NFL salary cap tracker daily starting in February. Look specifically for "Post-June 1" designations on any Jaguars cuts, as this will be the primary way Gladstone manufactures the space needed to retain All-Pro linebacker Devin Lloyd. Monitor the health updates on Travis Hunter's knee; his availability as a full-time CB1 drastically reduces the team's need to overpay for a veteran corner like Jaylen Watson in the first week of free agency.