5 Cuts That Could Create Cap Space for the New York Jets

The New York Jets are no closer to a contending team right now than they were at the end of the season. But they are already making the right moves to help them get there. 

General manager John Idzik and head coach Rex Ryan said goodbye; GM Mike Maccagnan and head coach Todd Bowles say hello.

With Maccagnan and Bowles at the helm, the Jets have two strong football minds steering the ship to help get the Jets back on the winning track. 

But before they can get there, there are some other moves to be made. The Jets currently have a boatload of cash to help them improve their roster, with nearly $50 million in cap space for 2015, according to Spotrac. That should be plenty, but there's still room to create even more cap space now and for years to come.

Here's a look at some of the high-end contracts that could be on the chopping block.

Calvin Pace

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Calvin Pace should change his nickname to "cat" because he has nine lives with the Jets. It seems every year, Pace is a potential cap casualty, but every year, he finds his way back on the roster. 

This time, Pace is set to count for $2.25 million against the salary cap, but releasing him would give the Jets back $2.125 million on the cap. That's hardly a king's ransom, but that money could be leveraged into a guarantee for a player who may need an extra couple million dollars to persuade him to join the Jets.

The 12-year veteran logged five sacks last season and 10 sacks the year before, but most of Pace's production can be attributed to the Jets' disruptive defensive line. The Jets may be better off grooming a younger defender with more athleticism into Pace's role. With young outside linebackers in Trevor Reilly and Ikemefuna Enemkpali on the roster, the Jets already have some options that could separate themselves in training camp.

Jason Babin

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The Jets have taken the short road to improving their edge pressure for years, and Jason Babin was just the latest stop on that rocky path. The combined age of Babin and Pace is 68 years old—each is 34 years of age.

Todd Bowles could find a use for a hamster in his defense, so certainly, he might be able to get some juice out of Babin. Enough juice for the squeeze? That's another question entirely. The 11-year veteran logged only two sacks in 2014, tied with his 2008 output for the fewest sacks of his career. 

Babin's contract will count for $1.625 million against the salary cap if the Jets exercise the team option and keep him around for 2015. If they don't, they will get back every penny of that money to use this offseason.

Chris Johnson

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When the Jets signed Chris Johnson to a two-year, $8 million contract in 2014, they certainly weren't expecting the CJ2K of old (though no one could blame them if they were hoping for it). What they got, though, was a back who offered little more value than a No. 2 back in a rotation, giving Chris Ivory an opportunity to catch his breath between runs.

To spend $5.25 million in cap space on a role-playing running back is a bit rich. The Jets currently have $8 million invested in the running back position for the 2015 season, and they could cut that number nearly in half by cutting Johnson ($3.5 million cap savings). 

The recent charges of gun possession could also lead the Jets to weigh his value to the team relative to his contract.

Rotational running backs are a dime a dozen, and the Jets could easily use one of their draft picks to scoop up a young, athletic player to fill the scatback role occupied by Johnson. Johnson is nearing 30 years old, and his best days are clearly behind him, just like the slew of defenders he left in his wake in 2009.

Breno Giacomini

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When right tackle Austin Howard left the Jets as a free agent and signed with the Oakland Raiders, the Jets responded by bringing in Breno Giacomini from the Super Bowl champion Seattle Seahawks.

Unfortunately, like former GM John Idzik, he didn't bring the Seahawks' winning ways with him. Giacomini was one of 18 linemen to allow 40 or more total pressures on their quarterback in 2014, according to Pro Football Focus.

Cutting Giacomini this offseason seems like a waste, since the Jets would only recoup $750,000 of his $5.125 million salary-cap hit, but if they cut him now, they would avoid any penalty on his $5.125 million cap hits for 2016 and 2017. It would also leave the Jets searching for a right tackle.

If Giacomini's play doesn't improve, though, they could be searching for a right tackle anyway.

Percy Harvin

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The Jets have multiple reasons to cut Percy Harvin:

1. His cap hit of $10.5 million, a figure that is a mile above his true value.
2. The conditional draft pick that the Jets must surrender; if Harvin is on the roster at a certain date, they owe the Seahawks a fourth-round pick, but if he is released, they owe only a sixth-round pick.

In eight games with the Jets, Harvin caught 29 passes for 350 yards and a touchdown. Granted, his numbers may have also been reflective of the Jets' struggles at quarterback with Geno Smith and Michael Vick, but the $10.5 million cap hit puts him in the neighborhood of the likes of Tampa Bay Buccaneers wide receiver Vincent Jackson, Atlanta Falcons wide receiver Julio Jones and Cincinnati Bengals wide receiver A.J. Green.

Harvin has explosive playmaking potential, but how long can teams continue to shell out top dollar for the possibility that Harvin could finally hit his mile-high ceiling? The Jets have the beginnings to a solid pass-catching core in Jeremy Kerley, Eric Decker, Jace Amaro and Jeff Cumberland. If they can add one more dynamic threat to the group—not to mention a quarterback who can maximize their skills—the Jets offense could be tough to stop.

Yes, that sounds like a stretch, but it's not outside the realm of possibility. That possibility becomes much more attainable in the event that the Jets have an extra $10.5 million to spend this offseason.

All salary cap and contract information provided by Spotrac.com.