This ‘Loophole’ Reportedly Could Help Patriots Create More Cap Space

The New England Patriots have plenty of cap space entering the 2024 campaign.

New England has nearly $87 million in cap space and a release of cornerback J.C. Jackson would grant the Patriots an additional $14 million in relief, per cap expert Miguel Benzan. It's likely Jerod Mayo's team will have more than $100 million in cap space when free agency begins March 13, two days after the legal tampering window opens.

But could the Patriots gain even more?

The Athletic's Chad Graff and Jeff Howe on Thursday published a wide-ranging report from the NFL Scouting Combine in Indianapolis. In the report, which centered primarily on New England's quarterback thoughts, there was an interesting nugget relating to veteran receiver DeVante Parker.

Given the contract extension Parker signed with the Patriots last offseason, it's not easy to cut him before June 1, The Athletic wrote. New England would sustain more than $6 million in dead cap while creating little additional space. However, if the Patriots wanted to pursue "a loophole," as The Athletic explained, they could clear $3 million in cap space if they trade Parker.

"So look for the Patriots to dangle Parker in trade talks in the coming weeks even if they would only get a late-round pick in return," The Athletic wrote.

It might not seem like much, but there's an argument to be made the Patriots could be better off without Parker. The 31-year-old spent the last two seasons with New England, but underdelivered during his tenure. Parker has 64 receptions for 933 yards and three touchdowns in his two Patriots seasons. Those funds could go toward a free-agent wideout, a position the Patriots reportedly covet.

And when you have as many holes as the Patriots, any financial relief is good.