OCTOBER 18: Providing further details on the restructure, ESPN’s Rich Cimini notes nearly all of Adams’ 2024 salary ($10.45MM) was converted into a signing bonus to create the immediate cap savings. While void years are now present, no changes have been made to the 2025 and ’26 salaries at this point. Further work to the pact – including the infusion of new guarantees – will no doubt be coming this offseason if Adams is to meet his goal of remaining in New York for years to come.
OCTOBER 15: The Raiders found a team willing to pay Davante Adams‘ full remaining salary. Undoubtedly lowering the trade price, the Jets are absorbing the $10.9MM left on the All-Pro receiver’s base salary this year. As was the case with the Aaron Rodgers trade, the Jets are making a change to give themselves more breathing room.
A restructure will take place, according to NFL.com’s Ian Rapoport, who indicates the revised agreement will reduce Adams’ 2024 base salary. That number stood at $16.89MM coming into the season, but with six games passing, it dropped below $11MM. While the new number is not yet known, the Jets are pushing money into the future to help defray some of the immediate cost.
Base-to-bonus restructures and the introduction of void years can help cut cap numbers, and Rapoport adds the Jets appear likely to adjust the talented wide receiver’s deal for 2025 and ’26 (no void years are on Adams’ deal prior to this restructure). Void years will now be included, per ESPN.com’s Adam Schefter, who reports the Jets have dropped Adams’ cap number to $3.21MM by adding two void years. Adams’ deal still runs through 2026, but the voids technically push it through 2028.
Adams is due nonguaranteed $35.6MM and $36.6MM cap figures, respectively, over the next two seasons. Those lofty numbers are part of the five-year, $140MM extension Adams signed upon being traded to the Raiders. That fit did not end up panning out, and the Jets had long loomed as an interested party — dating back to their April 2023 Rodgers trade.
While negotiations had pushed a deal near completion Monday, Fox Sports’ Jordan Schultz notes the salary component represented the final hurdle. The Raiders’ insistence an acquiring team pick up the full tab had loomed as a key component in this trade, and while the AFC West team probably would have received more in terms of trade compensation by agreeing to pay part of Adams’ remaining 2024 salary, the organization stood pat and sent the full number to the Jets’ payroll. That will now be stretched beyond 2024.
This transaction will make it more difficult for the Jets to move on from Adams after this year. Previously, the Jets would have taken on no dead money from a 2025 separation. Though, they would have faced a near-impossible task in attempting to trade a contract featuring a $35.6MM 2025 base salary.
Although Rodgers has described the team as all in after this trade, he has indicated an openness to playing beyond 2024. Rodgers’ uncertain future in Green Bay affected Adams’ decision to pass on a 2022 Packers extension offer, leading to the tag-and-trade maneuver, and the 11th-year wideout also was linked to hesitancy regarding the Jets due to Rodgers’ cloudy post-2024 plans in New York. Though, it appears the parties are onboard. Adams being tied to the Jets through 2026 will assuredly factor into Rodgers’ retirement considerations this coming offseason.
As part of a summer 2023 restructure, a $35MM roster bonus would come Rodgers’ way if he decides to play again next season. The 2025 season would be Rodgers’ 21st should he decide to stick around. Of course, the Jets firing Robert Saleh and having Joe Douglas on a hot seat — though, it may not be as hot as we previously thought — complicates even Rodgers’ 2025 status. Of course, QB talent is quite hard to procure, so a new Jets regime — if that is the way ownership proceeds after this already-tumultuous season — would need to factor that into the decision as well.
For the first time since 2020, Rodgers and Adams are each under contract for multiple seasons together. The Jets will hope this deal can trigger a midseason turnaround, as they have now checked off the top box on the QB’s wish list.
