The New York Jets haven’t completely closed the book on the Aaron Rodgers era just yet. While the team moved on from Rodgers and most of his inner circle this offseason, one notable holdover remains under contract — and for now, it looks like he’s staying put.
The Jets agreed to terms on a restructured deal with wide receiver Allen Lazard on Thursday in a move that, at least for the time being, solidifies his place on the roster. Lazard has agreed to take an $8.5 million pay cut to remain with the Jets.
His 2025 cap number will decrease from $13.2 million to $4.6 million, while the Jets also eliminated the final year of his contract in 2026. He will carry a dead cap charge of roughly $4.4 million once his contract voids after this season.
The new deal includes just $1.75 million in guarantees as the Jets will save over $8 million in cap space. What does this new contract mean for Lazard’s future and the Jets’ wide receiver plans? We can draw a few conclusions.
Are the NY Jets keeping Allen Lazard after his pay cut?
The reason Lazard was forced to take the pay cut is obvious — he simply wasn’t living up to his contract.
It’s a situation that mirrors what the Jets did with Jamison Crowder a few years ago. Lazard was no longer worth the $11 million per year he was set to earn on the four-year, $44 million deal he signed in 2023, and he likely knew he wouldn’t command much on the open market after a disappointing season.
Given the choice between a reduced salary or hitting the open market with limited value, Lazard chose to stay in New York on the Jets’ terms. The team, in turn, gets to keep a veteran receiver without overpaying for him.
That said, Lazard’s pay cut doesn’t guarantee he’s on the Jets’ roster come Week 1. His revised deal also makes him a much more valuable and movable trade chip. The Jets would take on just over $2 million in dead cap if he were to be traded after June 1.
The Jets’ wide receiver room, even with Lazard, isn’t particularly deep at the moment. Behind Garrett Wilson, the depth chart includes Lazard, Josh Reynolds, Tyler Johnson, Xavier Gipson, and Malachi Corley. At tight end, Jeremy Ruckert and Stone Smartt currently lead the way.
That means the Jets could still look to bolster their pass-catching group, either in the 2025 NFL Draft or through free agency afterward, when signings no longer count against the compensatory pick formula.
Lazard could even reunite with his longtime quarterback if/when Rodgers ultimately decides to play for the Pittsburgh Steelers. Again, this new contract makes his salary a lot more movable.
Either way, this move gives the Jets added flexibility at wide receiver and a serviceable depth option to help round out the roster. He’s not a perfect player, but at this price point, it’s unlikely the Jets would find a better value on the open market.
Allen Lazard is here to stay, at least for the time being.