Josh Jacobs, Andre James, Raiders Free Agents' Projected Contracts

The Las Vegas Raiders have decided that former interim head coach Antonio Pierce is the right leader to push the franchise into the future. Building for that future will begin in just over a week, as free agency will officially open on March 13.

Las Vegas is projected to have $47.9 million in cap space, which means it can be a significant player on the open market. Before Pierce and new general manager Tom Telesco dive deeply into the market, though, they must decide the futures of the Raiders' own key free agents.

Here, we'll dive into three of Las Vegas' most significant contributors who are scheduled to be free agents this offseason. We'll examine their values to the team and how their next contracts are likely to look.

Recent production, health, age, upside and positional value were all considered here. A full list of Las Vegas' impending free agents can be found at Spotrac.

RB Josh Jacobs

Ethan Miller/Getty Images

LAS VEGAS, NEVADA - NOVEMBER 12: Running back Josh Jacobs #8 of the Las Vegas Raiders carries the ball against safety Tony Adams #22 of the New York Jets on a 40-yard run in the third quarter of their game at Allegiant Stadium on November 12, 2023 in Las Vegas, Nevada. The Raiders defeated the Jets 16-12. (Photo by Ethan Miller/Getty Images)

Determining Josh Jacobs' value to the Raiders is tricky. The 2022 rushing champ has performed like an elite dual-threat when healthy but has battled numerous nagging injuries throughout his career and has struggled with consistency.

For whatever reason, Jacobs seems to alternate between great and merely good seasons. 2023 was one of the latter, and the 26-year-old finished with 1,101 scrimmage yards but averaged just 3.5 yards per carry.

While Las Vegas would undoubtedly like to have Jacobs back at a fair price, they're highly unlikely to franchise tag him for the second straight season.

"Yeah, I mean as a GM you never want to take anything off the table, but I don't anticipate using that tag this year," Telesco said, per The Athletic's Vic Tafur.

This means that Jacobs will be getting an entirely new contract, and one can only assume that he'd prefer to have multi-year security. That could potentially push Jacobs out of Las Vegas' comfort zone.

Spotrac gives Jacobs a projected market value of $10.6 million annually. That may be a bit high, however, given Jacobs' 2023 performance and quad injury, plus a deep free-agent RB class—headlined by Jacobs, Saquon Barkley and Derrick Henry.

The prediction here is that Jacobs takes a shorter deal to reestablish his value and hit the market again before the age of 30.

Contract Projection: Two Years, $19.5 Million with $14 Million Guaranteed

C Andre James

Jordon Kelly/Icon Sportswire via Getty Images

INGLEWOOD, CA - OCTOBER 1: Las Vegas Raiders center Andre James (68) walks off the field after the NFL regular season game between the Las Vegas Raiders and the Los Angeles Chargers on October 1, 2023, at SoFi Stadium in Inglewood, CA. (Photo by Jordon Kelly/Icon Sportswire via Getty Images)

It's a bit easier to pinpoint what starting center Andre James has been to the Raiders. Las Vegas handed him the starting job in 2021 after trading away veteran stalwart Rodney Hudson. James has since developed as one of the league's most dependable interior linemen.

There are several reasons the Raiders should want to keep James in the fold. For starters, he's good, and he's only 26 years old. James' best football may still be ahead of him, and he can be a long-term building block along the line.

Secondly, Las Vegas could potentially also lose guard Greg Van Roten and right tackle Jermaine Eluemunor in free agency. The Raiders also have a new offensive line coach this season in James Cregg, so there will already be an adjustment period.

Keeping James would help maintain a level of continuity up front.

Lastly, there aren't a ton of viable alternatives headed to market. Future Hall of Famer Jason Kelce tops the center list, but he's most likely to retire or return to the Philadelphia Eagles this offseason.

From a contract standpoint, the two-year, $14 million deal that Connor Williams signed with the Miami Dolphins two years ago is probably a good starting point. Fans should expect James to command a higher annual value and a longer term, however.

Contract Projection: Three Years, $24 Million with $14.5 Million Guaranteed

OT Jermaine Eluemunor

Cooper Neill/Getty Images

DETROIT, MI - OCTOBER 30: Jermaine Eluemunor #72 of the Las Vegas Raiders walks off of the field during an NFL game against the Detroit Lions at Ford Field on October 30, 2023 in Detroit, Michigan. (Photo by Cooper Neill/Getty Images)

Eluemunor may not be valued as highly outside of Las Vegas because he has struggled with consistency as a pass protector.

In 2023, for example, Eluemunor was responsible for five penalties and six sacks allowed, according to Pro Football Focus. He had a whopping 10 penalties the previous season too.

However, miscues aside, Eluemunor has developed into a terrific starter for the Raiders. He cut down on avoidable mental errors this past season, and he provides a physical presence on the edge that is more valuable than his sack numbers might suggest.

Eluemunor can also fill in at left tackle or guard in a pinch, and he's been relatively durable for Las Vegas—having played in at least 14 games in each of the past three seasons. While he'll turn 30 in December and doesn't have as much long-term value as James, re-signing Eluemunor for continuity purposes would still be logical.

After signing a one-year, $3 million deal to remain in Las Vegas last offseason, Eluemunor should be in line for a noteworthy raise. The 2024 tackle market is relatively weak overall, which will drive up the price of even mid-level starters.

Eluemunor has shown over the past two seasons that he's above-average.

Contract Projection; Two Years, $11 Million with $5 Million Guaranteed