On the last day for franchises to exercise fifth-year options on their first-round draftees from the 2022 NFL Draft, the Jacksonville Jaguars decided to pass on exercising one on linebacker Devin Lloyd. The contract would guarantee Lloyd $14.751 million for the 2026 season.
That being said, Lloyd is still with the Jaguars franchise for the 2025 campaign, but will become an unrestricted free agent following the campaign. Lloyd has been a strong player for the Jaguars over his tenure with the organization, as he has totaled over 100 total tackles each year since his arrival.
The Jaguars could be leaning in a different direction by not exercising this option. While they could still be in play for keeping Lloyd around, not signing him to that option tells us that they view him for less than what the contract would have guaranteed moving forward.
However, if Lloyd can put together another strong season with Jacksonville in 2025 under the new staff, his market value could increase heavily. So much so that if the Jaguars aren't in contention for a playoff spot, and if Lloyd is having success, they could move him in a trade to get some stock back in potential draft picks.
According to Spotrac.com, the former Utah Utes has a current market value of three years, $27,334,494. If that does come true for Lloyd, he would annually make $9.1 million per year, which is obviously much less than the $14.75 million he would have gotten in 2026.
Currently, the Jaguars' linebacker will earn a base salary of $2.46 million with the cap hitting $4.1 million. Given that the Jaguars need to further improve their defensive ways, losing Lloyd would hurt in terms of consistently being on the field.
Lloyd had a PFF grade of 76.7, which made him the third-best defender in terms of the grading scale, trailing only Andrew Wingard and Josh Hines-Allen. Hines-Allen and the player who did earn a fifth-year option from Jacksonville in Travon Walker, are players to build this defense around.
With Lloyd potentially playing in his final season as a Jaguar, he will look to earn another multi-year deal worth more than what is projected of him.
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