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Jaguars cap space entering the 2024 NFL Draft

Despite their spending spree in free agency and re-signing of edge rusher Josh Allen to a long-term contract, the Jaguars enter the 2024 NFL Draft with a healthy amount of salary cap space and room to operate after signing their imminent class of rookies.

According to Over the Cap, the Jaguars have $27,562,593 available in effective 2024 cap space, accounting for the projected combined cap hit of the team’s draft class ($3,495,849) and a roster of 51+ players.

For comparison, Jacksonville had $14,035,022 in cap space available following the 2023 NFL Draft, per Demetrius Harvey of the Florida Times-Union.

Jacksonville’s total cap space available is currently $31,058,442. Both 2024 figures rank third in the NFL.

These numbers do not account for interior offensive lineman Tyler Shatley’s Friday re-signing with the team as the terms of his contract are not yet available.

Additionally, the Jaguars have $63,610,120 available on their 2025 salary cap table, including $51,850,120 in effective cap space, ranking No. 14 and No. 15 in the league, respectively.

While Allen’s April extension is worth up to $141.5 million and averages out to $28.3 million per year, his cap hit for 2024 is $11.15 million, as he received a $32 million signing bonus that will be prorated on the cap table over five years.

While most of Jacksonville’s 2024 spending is already on the books — the $188,517,500 in guarantees it’s dished to players like Allen, defensive lineman Arik Armstead and wide receiver Gabriel Davis this offseason leads the NFL — the club can continue signing free agents following the draft if it chooses to.

The Jaguars can also lay the groundwork for quarterback Trevor Lawrence’s impending contract extension. Those negotiations are underway.

Story originally appeared on Jaguars Wire