Jets' Updated Salary Cap, Depth Chart After Davante Adams' Rumored Release

The New York Jets are set to get some much-needed cap relief after reportedly releasing a veteran on Tuesday.

Per ESPN's Adam Schefter, the Jets are releasing wide receiver Davante Adams. Schefter noted that the move will save the Jets $29.9 million on their salary cap, which currently stands at $258.8 million, per Spotrac.

Parting ways with Adams leaves New York thin at the receiver position, as its current depth chart now looks like this:

WR: Garrett Wilson, Malachi Corley, Irv Charles

WR: Allen Lazard, Xavier Gipson, Malik Taylor

Spotrac provided some more clarity regarding how releasing Adams affect the Jets' salary cap:

There could be even more changes in store for the Jets receiving corps, as Schefter reported earlier on Tuesday that the team is allowing Allen Lazard to seek a trade. It was also noted that New York is open to retaining Lazard, but trading him would get his non-guaranteed $22 million for the next two seasons off the books while creating $6.5 million in dead cap space, per Spotrac.

Adams was acquired from the Las Vegas Raiders in October in exchange for a 2025 third-round draft pick. While it was expected that reuniting him with veteran quarterback Aaron Rodgers would benefit the team, New York's struggles continued on its way to a 5-12 finish to the 2024 campaign.

In 11 games with the Jets, Adams recorded 67 catches, 854 yards and seven touchdowns, giving him his fifth straight 1,000-yard season. He had 18 receptions for 209 yards and a score in three games with the Raiders.

This is the first time in Adams' 11-year career that he will be able to test free agency. It's clear that the 32-year-old still has a lot left in the tank, so he should have his fair share of suitors on the open market. Perhaps he will look to continue teaming with Rodgers, who was also released by New York this offseason.