With Mike Evans re-signed, will Jaguars' Calvin Ridley be top wideout on the open market?

The expected crop of free-agent wide receivers has dwindled mightily since the end of the season.

With franchise tags, promise of retention and contract extensions being handed out, Jacksonville Jaguars receiver Calvin Ridley has quickly risen to the top of the group.

The Cincinnati Bengals informed WR Tee Higgins just three days after the franchise tag window opened that he would be receiving it.

Free agency: Trent Baalke talks biggest Jaguars free agents, including Ridley and Allen

Indianapolis Colts general manager Chris Ballard says Michael Pittman Jr. will remain with the team in 2024, implying that they'll use the franchise tag before the March 5, 4 p.m. ET deadline if they can't come to a long-term agreement.

On Monday, the Tampa Bay Buccaneers reportedly agreed to a two-year deal worth $52 million, with $35 million guaranteed. Evans confirmed the reports soon after.

With that trio either locked away or expected to be locked away soon with their respective teams, Ridley appears to be the most likely to hit free agency and command a large contract after a comeback campaign in 2023.

Calvin Ridley unlikely to be extended ahead of new league year

The parameters of the Jaguars' deal with the Atlanta Falcons for Ridley's services are clear.

The team acquired Ridley for a sixth-round pick in the 2023 NFL Draft and a conditional fourth-round pick in the 2024 NFL Draft. That fourth-round pick has already moved up to a third-round pick by Ridley reaching playtime and performance benchmarks.

The pick can move to a second-round selection in this year's draft if the Jaguars extend Ridley's contract before the new league year begins on March 13.

Applying the franchise tag on Ridley would not qualify as an extension and the Jaguars would owe the Falcons a third-round pick.

Though Jaguars general manager Trent Baalke said last week that the team is "not really concerned with whether it's a second or third round" pick that the team gives up, it is widely known that the Jaguars would prefer to keep their second-round pick if possible.

Baalke indicated last week that the team continued to work toward a contract extension with Ridley, and claimed the team would like for him to return, noting they recently had a meeting.

Ridley would like to return to Jacksonville, but the cost will ultimately be a large determining factor. Given that it's in Ridley's best interest to see what the market would bear for his services, barring a franchise tag, it's unlikely he's extended before the league year begins.

With outside linebacker Josh Allen expected to be franchise-tagged if he and the team cannot come to a long-term agreement by March 5 at 4 p.m. ET, Ridley likely hits free agency as one of, if not the top, wideout on the open market.

Is Calvin Ridley the top receiver in NFL free agency?

With Higgins, Evans and Pittman all likely out of the running for free agency this year, Ridley is joined by Arizona's Marquise Brown, Chicago's Darnell Mooney, Buffalo's Gabriel Davis and Baltimore's Odell Beckham Jr. as the top receivers that are expected to hit the open market.

In that group, Ridley is the second-oldest at 29, with Gabriel Davis being the youngest at 24. The rest of the group is 26 years old except for Beckham Jr., who is 31.

Last year, Ridley accounted for 76 receptions, 1,016 yards and eight touchdowns. Those numbers are easily the best among the group with Davis being the only player to come close to Ridley's production with 45 catches for 746 yards and seven scores last year.

Ridley's impressive year is doubly so after he missed 28 games in a row dating back to the 2021 season due to his mental well-being and a suspension for gambling on league games.

Ridley's productive 2023 campaign wasn't a fluke. He has produced greatly before, with his best season coming in 2020 with the Falcons. Ridley caught 90 passes for 1,374 yards and nine touchdowns.

His production should increase with another year in Jacksonville's system if he's re-signed, as well as another season to work with quarterback Trevor Lawrence.

Lawrence missed numerous practices down the stretch of the season this year due to injuries which could have negatively impacted the duo's chemistry, resulting in a few mishaps on the field.

With Ridley as the league's top free-agent receiver, it will be interesting to see how much money he commands on the open market if he gets there. ESPN's Jeremy Fowler says that the "expectation is (Ridley) will put up a rather gaudy number on a per-year average. Teams see elite ability there."

That means the Jaguars will have to fight for his services, and with the salary cap this year jumping up, his numbers could be higher than anyone expected before the season ended.

Demetrius Harvey is the Jacksonville Jaguars reporter for the Florida Times-Union. You can follow him on X,  formerly known as Twitter, at @Demetrius82.

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This article originally appeared on Florida Times-Union: Calvin Ridley is NFL's top free agent receiver. Can Jaguars keep him?