AFC East 2024 Offseason Financials

Michael Ginnitti
Michael Ginnitti, Managing Editor & NFL/MLB ExpertJanuary 02, 2024
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#buffalo bills #miami dolphins #new england patriots #new york jets
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Spotrac’s 2024 NFL Offseason Series continues with a look at each of the four AFC East teams, breaking down their estimated Top 51 cap space, pending unrestricted free agents, a few notable bubble players, and potential ways to free up more cap space this winter.

AFC: NORTH | EAST | SOUTH | WEST
NFC: NORTH | EAST | SOUTH | WEST

Buffalo Bills

The Bills enter the 2024 offseason somewhere around $40M over the projected Top 51 salary cap threshold. Moreso, they carry (at least) 11 notable free agents heading toward March, including a number of impactful defensive players.

PENDING UFAS

QUARTERBACK
Kyle Allen

RUNNING BACK
Damien Harris, Ty Johnson, Latavius Murray
Bubble: Nyheim Hines

WIDE RECEIVERS
Gabriel Davis, Trent Sherfield
Bubble: Deonte Harty

OFFENSIVE LINE
David Edwards
Bubble: Connor McGovern, Mitch Morse

DEFENSIVE LINE
DaQuan Jones, Tim Settle, Jordan Phillips, Poona Ford, Linval Joseph

EDGE DEFENDERS
Leonard Floyd, Shaq Lawson, A.J. Epenesa
Bubble: Von Miller

LINEBACKERS
Tyrel Dodson, Tyler Matakevich

SECONDARY
Micah Hyde (S), Dane Jackson (CB), Taylor Rapp (S), Cam Lewis (CB)
Bubble: Tre'Davious White (CB), Siran Neal (CB), Damar Hamlin (S)

CAP CLEARING POSSIBILITIES

  • Process a full base salary plus $6M roster bonus conversion on QB Josh Allen, freeing up $22.7M of cap
  • Process a $5M roster bonus conversion on TE Dawson Knox, freeing up $4M of cap when factoring in 2 void years.
  • Extend OT Dion Dawkins, lowering his $16.6M cap hit for 2024. Dawkins projects toward an $18M per year contract in our system.
  • Process a full base salary plus $1M roster bonus conversion on OL Mitch Morse, freeing up $5.3M of cap space when factoring in 4 void years.
  • Extend CB Taron Johnson, lowering his $12.4M hit for 2024. Johnson projects toward a $14M per year contract in our system.
  • Extend CB Rasul Douglas, lowering his $9M cap hit for 2024. Douglas projects toward a $14M per year contract in our system.
  • Release CB Tre'Davious White, freeing up $6.2M of cap
  • Release CB Siran Neal, freeing up $2.8M of cap
  • Release RB Nyheim Hines, freeing up $4.98M of cap
  • Release WR Deonte Harty, freeing up $4.195M of cap
  • Waive S Damar Hamlin, freeing up $1M of cap

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Miami Dolphins

The Dolphins enter the 2024 offseason somewhere around $40M over the projected Top 51 salary cap threshold. While Miami possesses a few notable free agents heading toward March, it seems likely that the bigger conversion will surround their potential extension candidates - notably Tua Tagovailoa, Jaylen Waddle, & Christian Wilkins.

PENDING UFAS

QUARTERBACK
Bubble: Mike White

RUNNING BACK
Salvon Ahmed
Bubble: Jeff Wilson

WIDE RECEIVERS
Cedrick Wilson, Braxton Berrios, Chase Claypool, River Cracraft, Robbie Anderson

TIGHT ENDS
Tyler Kroft

OFFENSIVE LINE
Connor Williams, Robert Hunt, Isaiah Wynn, Kendall Lamm

DEFENSIVE LINE
Christian Wilkins, Raekwon Davis, Da'shawn Hand

EDGE DEFENDERS
Andrew Van Ginkel
Bubble: Emmanuel Ogbah

LINEBACKERS
Calvin Munson

SECONDARY
Deshon Elliott, Eli Apple, Brandon Jones, Elijah Campbell

SPECIAL TEAMS
Jake Bailey (P)

CAP CLEARING POSSIBILITIES

  • Extend QB Tua Tagovailoa, lowering his $23.1M cap hit for 2024. Tagovailoa projects north of $50M per year in our system.
  • Process a full base salary conversion on WR Tyreek Hill, freeing up $14.7M of cap
  • Process a full base salary conversion on OT Terron Armstead, freeing up $9.6M of cap
  • Release DE Emmanuel Ogbah, freeing up $13.8M of cap
  • Process a full base salary conversion on DT Zach Sieler, freeing up $5.6M of cap
  • Process a full base salary conversion on LB Bradley Chubb, freeing up $14.9M of cap
  • Release Jerome Baker, freeing up $9.9M of cap
  • Process a full base salary plus $11M roster bonus conversion on CB Jalen Ramsey, freeing up $19.4M of cap

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New England Patriots

It’s setting up to be quite the offseason in New England, with rumors swirling about the immediate status of HC/GM Bill Belichick, no viable QB1 currently on the roster, minimal offensive weapons to boast, both offensive tackles set for the open market, and a fairly good defense that will need internal investment to remain intact. The good news? The Pats should secure a Top 5 pick in the upcoming draft, and carry an estimated $72M of Top 51 cap space into the new year.

PENDING UFAS

QUARTERBACK
Bubble: Mac Jones, Bailey Zappe

RUNNING BACK
Ezekiel Elliott

WIDE RECEIVERS
Kendrick Bourne, Jalen Reagor

TIGHT ENDS
Hunter Henry, Mike Gesicki, Pharaoh Brown

OFFENSIVE LINE
Trenton Brown, Mike Onwenu, Riley Reiff

DEFENSIVE LINE
Bubble: Davon Godchaux

EDGE DEFENDERS
Bubble: Deatrich Wise

SECONDARY
Kyle Dugger (S), Myles Bryant (CB), Jalen Mills (CB)
Bubble: Adrian Phillips (S), J.C. Jackson (CB)

SPECIAL TEAMS
Bubble: Chad Ryland (K)

CAP CLEARING POSSIBILITIES

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New York Jets

Let’s try this again. The Jets appear poised to run almost everything back in 2024, hoping for a little Aaron Rodgers magic to sprinkle its way around the franchise. New York doesn’t carry a large list of free agents into the offseason, but that doesn’t mean significant change isn’t coming to certain position groups. According to our data, the Jets hold an estimated $16M of Top 51 cap space in 2024.

PENDING UFAS

QUARTERBACK
Trevor Siemian
Bubble: Zach Wilson

WIDE RECEIVERS
Randall Cobb

TIGHT ENDS
Bubble: C.J. Uzomah, Tyler Conklin

OFFENSIVE LINE
Duane Brown, Connor McGovern, Mekhi Becton, Billy Turner
Bubble: Laken Tomlinson, Wes Schweitzer

DEFENSIVE LINE
Solomon Thomas, Al Woods, Quinton Jefferson

EDGE DEFENDERS
Carl Lawson, Bryce Huff

SECONDARY
Jordan Whitehead (S), Chuck Clark (S)

SPECIAL TEAMS
Greg Zuerlein (K), Thomas Morstead (P)

CAP CLEARING POSSIBILITIES

  • Trade QB Zach Wilson, freeing up $5.4M of cap
  • Process a full base salary conversion on WR Allen Lazard, freeing up $7.1M of cap when factoring in 2 void years
  • Release TE C.J. Uzomah, freeing up $5.3M of cap
  • Release TE Tyler Conklin, freeing up $4.8M of cap
  • Release OL Laken Tomlinson, freeing up $8.1M of cap
  • Release OL Wes Schweitzer, freeing up $1.1M of cap
  • Process a full base salary conversion on DL Quinnen Williams, freeing up $10.6M of cap when factoring in 1 void year
  • Process a full base salary conversion on DE John Franklin-Myers, freeing up $9.7M of cap when factoring in 1 void year
  • Process a full base salary conversion on OLB Quincy Williams, freeing up $3.9M of cap when factoring in 3 void years
  • Extend ILB C.J. Mosley to a new contract, lowering his $21.4M cap hit for 2024. Mosley is still performing at a $10M+ per year level.
  • Extend CB D.J. Reed, to a new contract, lowering his $15.6M cap hit for 2024. Reed projects toward a $13M per year contract in our system.

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#buffalo bills #miami dolphins #new england patriots #new york jets
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