Have you got cash to burn? Sounds good. However, how?
Jerod Mayo teased that he and his front office colleagues at the Patriots intended to burn Robert Kraft’s money during an appearance on WEEI’s Greg Hill Show earlier this week, but he withheld his actual strategy.
Quite understandably. The Patriots currently lack a fully-resourced coaching staff, and the free-agent market is unpredictable. That means it’s very hard to gauge “fits” for the Patriots’ on-field personality right now, especially when it comes to offense.
Nevertheless, regardless of their offensive strategy of choice, there are several glaring needs that should take precedence. While “burning” through some of the Patriots’ available resources, let’s take care of a couple of those.
Sign OL Mike Onwenu again
Perhaps the most valuable of the Patriots’ upcoming free agents is Mike Onwenu. The team does not currently have a contract with an experienced offensive tackle. A league source estimates that Onwenu’s open-market worth might be between $15 million and $20 million a season for a four-year contract. That’s more than reasonable for a player who can play two different positions at the level of a starting quarterback, and puts him in the same pay category as Cleveland right tackle Jack Conklins.
The Patriots “essentially” know they won’t be able to get Onwenu back, according to a recent ESPN article. However, a team source said that the team really like Onwenu’s style of play and would like to see him return to Foxboro in 2024 and beyond. The Patriots’ tackle situation might not be good the next season if they are unable to complete things.
If Onwenu’s contract is similar to Conklin’s, his 2024 cap figure may be as high as $8 million.
Recruit Calvin Ridley, WR
The Patriots ought to sign Tee Higgins as a free agent if they have the opportunity. He might not make it that far, though, due to the Bengals. It makes sense for Cincinnati to tag him as a temporary solution to the issue of paying quarterback Joe Burrow and receiver Ja’Marr Chase while still having money left over.
That means Ridley might be the next-best option for the Patriots. After missing all of 2022 due to a gambling suspension and half of 2021 as he left the Falcons for mental health reasons, the former Alabama star racked up a 1,000-yard season. He’s a more explosive option than fellow free-agent wideout Michael Pittman, and he’d give the Patriots some much-needed juice in their receiver room. Going into 2024 with a top duo of Ridley and DeMario “Pop” Douglas isn’t quite enough to wow the rest of the league, but it’s an upgrade.
Per Pro Football Focus, Ridley could command a deal that pays him about $16.5 million per season. If so, the Patriots could give him a three-year deal that would carry a first-year cap hit of about $9 million.
Franchise Hunter should be given a tag. Henry
Hunter Henry’s “franchise” pay may sound high, but it’s not that onerous given that tight end earnings have been comparatively muted for years. The price tag for tight ends in 2024 would be just over $12 million, according to Over the Cap’s estimates. Henry would also be worthwhile.
Henry and David Andrews are the two offensive leaders in the Patriots locker room, according to Mayo’s most recent description. It’s a little concerning that Henry isn’t bound by a contract. He’s still a competent tight end. It appears that he cultivates cultures. And if New England wants to be sure they can hold onto him, the tag might be their best bet.
With these three trades, the Patriots will have burned through nearly $29 million in cap space for 2024. If the team decides to release J.C. Jackson, they will have over $80 million in free agent space, which will be more than enough to cover the rookie class, make in-season acquisitions, and fill other roster gaps.
For example, it might cost roughly $8 million to sign experienced quarterback Jacoby Brissett because it was the reason he signed with Washington during the previous summer. If the Patriots choose a rookie quarterback with the third overall pick, he might be the wise old man in the quarterback’s room. Not an issue.
Cash To Burn: Recall?
To start the Mayo Era off well, the Patriots will need to spend it wisely in order to immediately overhaul their squad.
