There aren’t many prime free agents left on the market, but the Minnesota Vikings have positioned themselves to land a difference-maker by trade or free agency following Justin Jefferson‘s contract extension.
Pro Football Talk’s Mike Florio provided the details of Jefferson’s four-year, $140 million extension on June 3, which shows the Vikings offloaded a significant portion of Jefferson’s 2024 earnings onto future years to create more cap space to spend this upcoming season.
Jefferson’s fifth-year option was set to cost the Vikings $19.74 million for the 2024 season. However, by extending him, the Vikings restructured the cap hit for the final year of Jefferson’s rookie deal. According to Florio, Jefferson is due a $1.13 million base salary along with a $7.49 million share of his signing bonus for the 2024 season — a total cap hit of $8.51 million for the 2024 season.
The Vikings created $11.23 million to spend this season by extending Jefferson.
Despite carrying the third-most dead cap ($57.37 million) in the league after parting ways with Kirk Cousins and Danielle Hunter, the Vikings are positioned for a splurge signing or trade in the coming months with $27.49 million in available cap space.
Key Positions Vikings Can Spend on After Justin Jefferson Extension
GettyNFL free agent CB Stephon Gilmore.
There are several positions the Vikings could address with that cap space.
While there is a need for a serious improvement of the team’s interior defensive line, the free-agent market is depleted of quality defensive linemen at this stage of free agency.
The Vikings have plenty of developing talent in the cornerback room, but it arguably would benefit the most with a free-agency signing.
Stephon Gilmore and Xavien Howard are both still free agents and have experience working with Brian Flores. Either veteran cornerback would be an immediate starting candidate for a starting role.
There’s also a need for wide receiver depth with an open competition for the third receiver spot. Russell Gage, Hunter Renfrow, Tyler Boyd and Mecole Hardman are all intriguing options if the Vikings are not convinced by Brandon Powell or Jalen Nailor in training camp.
Although it would be a surprise for the Vikings to make a change at offensive line, the top center from this year’s free agency class, Connor Williams, is still available after finishing the 2023 season as Pro Football Focus’ second-best center. He is returning from a torn ACL he suffered in Week 14, impacting his free agency.
Free agency is slim pickings by June, but the Vikings also become a trade destination with the added cap space.
The Vikings’ Timeline of Justin Jefferson’s Contract
GettyVikings quarterback J.J. McCarthy (left) and wide receiver Justin Jeferson (right).
The Vikings’ future is clearer with their top offensive weapon secured through the 2028 season.
Jefferson’s contract aligns with the entirety of J.J. McCarthy‘s rookie deal as well, meaning the Vikings can manage Jefferson’s hefter cap hits later in his contract.
That doesn’t mean Jefferson’s contract is set in stone. If McCarthy ascends to franchise quarterback status, the Vikings will have to make extending him a priority.
The first three years of the deal are likely to remain untouched, but the 2027 offseason will be defining of the future for how the Vikings can keep McCarthy and Jefferson together.
Here’s the cap hit flow of the deal, per Spotrac.
2024: $8,512,600
2025: $15,317,600
2026: $39,137,600
2027: $43,397,600
2028: $47,387,600
2029: $6,000,000 (voidable dead cap)
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Vikings Positioned to Land Prime Free Agent After Jefferson’s Extension