Updating New York Jets' Salary-Cap Situation After 1st Wave of Free Agency

Aidan MackieSenior Analyst IMarch 28, 2014

EAST RUTHERFORD, NJ - DECEMBER 22:  General Manager John Idzik shakes hands with fans at the end of the game against the Cleveland Browns at MetLife Stadium on December 22, 2013 in East Rutherford, New Jersey. (Photo by Ron Antonelli/Getty Images)
Ron Antonelli/Getty Images

With all the big names in free agency off the board, the New York Jets are one of the few teams in the NFL that still has plenty of cap space available. 

The Jets began free agency with around $30 million in cap room, and due to their inactivity in signing major playersand the release of Mark SanchezNew York sits in about the same place right now. 

EAST RUTHERFORD, NJ - FEBRUARY 02:  cornerback Richard Sherman #25 of the Seattle Seahawks tackles wide receiver Eric Decker #87 of the Denver Broncos during Super Bowl XLVIII at MetLife Stadium on February 2, 2014 in East Rutherford, New Jersey.  (Photo
Kevin C. Cox/Getty Images

According to Over the Cap, the signing of Eric Decker and others, as well as the extension of Nick Folk, left the Jets with around $24 million in cap room prior to the acquisition of former Eagles quarterback Michael Vick and the release of Sanchez. 

Gang Green then saved a staggering $8.3 million in cap space by cutting Sanchez and spent $5 million of that to acquire Vick. 

That leaves the Jets an unbelievable $27.2 million under the set NFL cap space of $133 million. 

According to Gang Green Nation, only the Cincinnati Bengals and Cleveland Browns have as much money to spend as New York. 

So what can Gang Green do with all that money?

Well, some of it will spent on the incoming draft class. From there, it's anybody's guess. 

OAKLAND, CA - NOVEMBER 03:  Wide receiver DeSean Jackson #10 of the Philadelphia Eagles warms up before a game against the Oakland Raiders on November 3, 2013 at O.co Coliseum in Oakland, California.  The Eagles won 49-20. (Photo by Brian Bahr/Getty Image
Brian Bahr/Getty Images

Speaking with the press, Jets owner Woody Johnson has stated the team's interest in Pro Bowl wide receiver DeSean Jackson

Jackson is one of the most electrifying wideouts in the league, but he'd be costly for New York. Spotrac.com indicates that the 27-year-old is due to make $10.5 million in 2014 and will count for $12.75 million against the salary cap. 

However, the Jets are one of the few teams that can legitimately afford him, so the chances of a deal aren't dead yet. 

New York could also use its money to extend some of the young stars on its current roster, such as Muhammad Wilkerson, Damon Harrison, Jeremy Kerley and DeMario Davis. 

Each of those players still has a couple years left on his current contract, but the Jets have the money, and the want, to make extensions happen sooner than later.