How Corey Davis’ retirement impacts salary cap for Jets

Wide receiver Corey Davis made a seemingly sudden decision to retire from the NFL this week at the age of 28. He told teammates on Tuesday about his plan to retire and made the announcement Wednesday. Though he was considering this even before training camp, per ESPN’s Rich Cimini. We certainly wish Davis all the best going forward.

As for the Jets currently, the move has a bit of a financial impact on the team and their salary cap situation. Davis retiring is treated the same as if the Jets were to release him in terms of the salary cap. The Jets save about $10.5 million in salary cap space as a result and now have roughly $19.5 million in space, according to Over the Cap.

Davis leaves just $666,667 in dead money from his prorated signing bonus charges. Davis was in the final year of a three-year, $37.5 million contract.

With the Jets placing Davis on the reserve/retired list, they keep his rights for the remainder of his contract, through the end of the season.

Story originally appeared on Jets Wire