On Thursday, New York Jets Wide Receiver Allen Lazard signed a new contract with the New York Jets for $2.25 million with $1.75 million guaranteed. He can also earn up to $250,000 per game roster bonuses. The final year of his contract 2026 has been voided making him a free agent in 2025. Lazard was set to earn $11 million in 2025.
Both Parties Have Factors To Consider
His first two years of the original contract have been a bust. Without Aaron Rodgers, he doesn’t have the safety net of a QB consistently looking his way. Lazard will more than likely become a checkdown receiver. He’s not guaranteed his No. 2 spot behind No. 1 Wide Receiver Garrett Wilson. Lazard must be significantly more productive to keep a relevant role on New York’s roster.
Considering the Brass Tacks
This restructuring of Lazard’s 2025 contract is a significant downgrade from the 13.2 million salary cap to a 4.6 million salary. It introduces a $4.4 million dead cap charge in 2026. This move follows the Jets roster changes, including the departures of Rodgers and Davante Adams. He joined the Jets in 2023 on a 4-year 44 million deal to reunite with Rodgers. In 2024 he had 37 receptions, 530 yards, and 6 touchdowns in 12 games before he was injured. It seems the Jets did not hit the pay dirt they had hoped for.
Allen Lazard Considers Future In New York
He was granted permission to seek a trade in March, but there was little interest. This move comes as no surprise after his lackluster 2024 season. This is a huge pay cut for Lazard, but at least he can still seek trades. With other former Packers players departing the Jets this year, Lazard has much less reason to stay.
What It Means For the Jets
What does this mean for the team’s total salary cap for the 2025 season? By lowering his base pay from 11 million to 2.25 million with just 1.75 million guaranteed and the recurring $250,000 roster bonuses, Lazard’s cap charge decreased from $13.2 million to $4.6 million. This adjustment frees approximately $8.6 million in cap space for the Jets in 2025.
This restructured deal does include a voided 2026 contract year resulting in a $4.368 million dead cap charge for that season. While this move provides immediate flexibility, it introduces future cap considerations. The Jets can use the funds for the 2025 season, but moving forward in 2026 they’ll have to make an accommodation for the dead cap charge.
What It Means For Lazard
This financial adjustment increases the likelihood of him staying on the roster for the 2025 season given the team’s limited depth at wide receiver behind Wilson. The Jets have the flexibility to release or trade Lazard after June 1.
It would save them approximately $2.4 million against the cap. However, his trade value does appear limited. No teams showed interest when he was previously permitted to seek a trade. For now, Lazard’s immediate future on the team is more secure. The future of his remaining a New York Jet depends on his success this season.
