Earlier this month, the Jets gave receiver Allen Lazard permission to seek a trade. A trade has not yet been found.
As noted by Rich Cimini of ESPN.com, it’s a surprise that Lazard is still on the roster, nearly a week into free agency.
Per a source with knowledge of the situation, there have been “many conversations.” For now, however, nothing has changed.
The guaranteed seasons of Lazard’s four-year deal have ended; he made $22 million in 2023 and 2024 combined. He’s currently on the books for a 2025 base salary of $11 million, with a cap number of $13.184 million. With no early triggers in the third year of his contract (such as a roster bonus or a new guarantee), the Jets can squat on his contractual rights — if they’re willing to carry his cap number.
Even with a post-June 1 release, they’d carry the current cap charge until June 2. So they’re apparently waiting for a trade to materialize, since the cap realities won’t change for another two-and-a-half months.
The most obvious guess is the Jets are waiting to see where quarterback Aaron Rodgers lands. That team would become the most obvious candidate to trade for Lazard, if Rodgers wants Lazard on the team and if the new team is willing to let Rodgers play quasi-G.M. (like the Jets were).
Cutting Lazard after June 1 (or with a post-June 1 designation) would result in a $2.184 million cap charge this year and another $4.368 million in 2026. Cutting him without a post-June 1 designation would cause the full $6.552 million to hit the cap in 2025. He’d then be off the books for 2026.
A trade before June 1 also would result in a $6.552 million cap charge for 2025.
It seems likely that Lazard will be off the roster by the time the 2025 season begins. The only question is whether the Jets will end up cutting him or getting a late-round pick from whichever team signs Rodgers — if that team is willing to take on the salary. Even then, Rodgers’ new team might decide to wait until the Jets inevitably terminate Lazard’s contract.
Another possibility would be for Lazard to take less to stay with the Jets, or whether he’d take less to facilitate a trade.
The possible three-way game of chicken will have greater stakes once the offseason program begins. If Lazard suffers a torn ACL or a ruptured Achilles tendon or any other season-ending injury, the Jets will be on the hook for his full $11 million salary for 2025.
UPDATE 8:09 p.m. ET: The Jets can’t designate Lazard as a post-June 1 cut, because they’ve already used their two per year on Rodgers and linebacker C.J. Mosley. So the options are to trade him, cut him after June 1 (and split the cap charge over two years), or cut him before June 1 (and take the full cap charge in 2025).
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