Getty New York Jets wide receiver Garrett Wilson celebrating on stage after getting selected.
The New York Jets might be receiving a huge gift under their Christmas tree in 2024.
Zack Rosenblatt of The Athletic revealed on Twitter that Gang Green is projected to receive “four compensatory draft picks in 2024” for a combination of their free-agent losses.
- Sixth-rounder (for loss of Nathan Shepherd)
- Seventh-rounder (for loss of Nate Herbig)
- Seventh-rounder (for loss of Mike White)
- Seventh-rounder (for loss of Dan Feeney)
Rosenblatt explained that the Sheldon Rankins free agent loss was “canceled out” by the Jets signing Allen Lazard in free agency.
Jets Could Finally Win the Comp Pick Lottery
After years without being awarded any compensatory picks, the Jets are long overdue to receive some help.
Between the years 1995 through 2019, the Jets have only received 13 total comp picks. That is the third-lowest total in the NFL during that span, per Over The Cap.
The comp pick formula is complicated and hard to understand but its desired goal is to award picks to teams that lose unrestricted free agents to other teams.
Since the Jets historically have always added more players and spent more money than they’ve lost, typically Gang Green isn’t eligible for compensatory picks.
However, this offseason has proven to be a different beast entirely.
Nathan Shepherd signed a three-year deal for $15 million with the New Orleans Saints. Nate Herbig inked a two-year deal for $8 million with the Pittsburgh Steelers. Mike White signed a two-year deal for $8 million with the Miami Dolphins. Dan Feeney signed a one-year deal for $3.3 million to also join the Dolphins.
All of those free-agent losses could result in four Day 3 picks in the 2024 NFL draft, per Over The Cap.
Part of Jets Aggressive Plan Won’t Affect Comp Pick Formula
Two names that the Jets have been connected to this offseason could still join the team without having any effect on that comp pick plan.
The Tennessee Titans released veteran center Ben Jones on Friday, March 10. Brian Costello of the New York Post said he was hearing there is interest between the two parties.
There is a loophole in the comp pick formula. If players are cut by their team they no longer count as part of that equation. So in theory the Jets could sign Jones, fill a void on the roster, and keep their bounty of extra picks intact for the 2024 NFL draft.
Another player that the Jets have been linked to is veteran wide receiver Odell Beckham Jr.
He wasn’t necessarily cut by any specific team, his contract just ran out with the Los Angeles Rams. However since OBJ didn’t play football during the 2022 season, that is another loophole in the comp pick formula. Beckham like Jones wouldn’t count toward the comp pick formula.
General manager Joe Douglas could add both players to the fold this offseason and maintain that future draft flexibility. It would be a unique way of hitting multiple birds with the same stone.
Some may scoff at a handful of late day 3 picks but when you haven’t received any compensatory picks in years beggars can’t be choosers.