NFL free agency's 10 most regrettable contracts in 2022: Jaguars' spending spree goes awry

Show Caption

NFL free agency rarely pans out to be what fans hope for.

In the waning moments of the season, some look ahead to March as a time when teams can dramatically remake themselves through their own spending sprees. Yet while both the Los Angeles Rams and Cincinnati Bengals proved this year that a few key signings can either lift an existing competitor to a new level or accelerate a rebuild, the available options tend to thin out over time thanks to franchise tags and extensions. 

This year proved to be no exception, as many teams refused to let their top talent walk. And in a year in which the salary cap ballooned more than $25 million to $208.2 million overall, several franchises equipped with ample space looked poised to overspend. Still, for the most part, teams appeared to be somewhat restrained in their approaches ... save for the Jacksonville Jaguars.

Here is our list of the 10 most regrettable NFL free agent signings so far (all contract figures courtesy of overthecap.com): 

1. Christian Kirk, WR, Jaguars

The opening of the tampering window Monday initially didn't produce too much buzz ... until the deal that drew a collective "huh?"

After Davante Adams (later traded to the Las Vegas Raiders), Chris Godwin and Mike Williams were kept off the market, Kirk stood as the primary beneficiary in a suddenly modest offering of free-agent wide receivers. Still, a four-year, $72 million pact for Kirk was easily this offseason's most eye-popping agreement - and its starkest example of an overspend. 

Kirk, 25, is currently tied for the eighth-highest average annual salary among wide receivers despite never having produced a 1,000-yard season and only having four career 100-yard games. An emerging threat who can threaten defenses vertically from the slot is surely an asset Trevor Lawrence can put to use. But Kirk would have to make what amounts to an unreasonable leap in production to provide a proper return on investment. 

NFL NEWSLETTER: Sign up now for exclusive content sent to your inbox

NFL FREE AGENCY: Winners, losers after first wave of deals and trades

2. Zay Jones, WR, Jaguars

No deal doled out this month could match Kirk's for the sheer surprise of the figures, but Jacksonville arguably outdid itself in the overall bewilderment factor by adding Jones on a three-year, $24 million contract.

It's almost impossible to discern what drove Jacksonville to grant this much money to Jones, a soon-to-be 27-year-old possession receiver who recorded 47 catches for 546 yards and one touchdown for the Las Vegas Raiders this season. It would be understandable if Jaguars general manager Trent Baalke had been looking for another target to remake his receiving corps. But going this high on Jones made the Jaguars' already reckless approach even more unintelligible. 

3. James Conner, RB, Cardinals

General manager Steve Keim has often utilized a counterintuitive approach to free agency, taking on big-name veterans even when their asking price seems misaligned with their current value. Conner is only 26, but bringing him back on a three-year, $21 million contract felt like an extension of Keim's larger miscalculations.

Without regard for cost, it's easy to see why Arizona would want to return a player who had 1,127 yards from scrimmage last season, though his touchdown output of 18 is bound to regress. Conner put up last season's stats, however, on a $1.75 million contract. The Cardinals are not the kind of team that should have been swept up in a bidding war for a running back, as their serious shortage of young talent in the pipeline means they need to spend wisely. A low-cost option would have been available somewhere in the middle to late rounds of the draft.

4+5. Chukwuma Okorafor, OT, and Mason Cole, C, Steelers

We'll make this a dual entry because the moves are intertwined and signify a larger concern about Pittsburgh's approach up front. To their credit, the Steelers took their offensive line issues seriously this offseason after their previous lack of reinforcements proved disastrous. Bringing on former Chicago Bears offensive guard James Daniels was a legitimate step toward improvement. The same likely can't be said for their other moves.

Re-signing Okorafor to a three-year, $29.5 million pact is the more suspect of these two decisions, as the two-year starter has been plagued by inconsistency. Cole offers versatility on the interior as either a center or a guard, but a three-year, $15.75 million deal seems rich for a blocker who hasn't proven to be a capable starter. In both cases, the Steelers appear to be paying for what they hope the players to become rather than what they are right now. 

6. Foley Fatukasi, DT, Jaguars

It always helps to be able to stop the run in the AFC South, a division that features the NFL's last two rushing champions in Derrick Henry and Jonathan Taylor. The former has proved particularly beguiling for Jacksonville's defense, which has given up 14 touchdowns on the ground to Henry in 11 career games against him. Still, paying $30 million over three years for a one-dimensional interior defender in Fatukasi - the 6-4, 318-pound former member of the New York Jets - reflects a problem in prioritization for upgrading this group, which has far more pressing problems than identifying which big body will clog things up front.

7. Foye Oluokun, LB, Jaguars

Getting a 27-year-old defender coming off a breakout season with the Atlanta Falcons should represent some kind of victory for a Jaguars roster starved for talent. Still, at three years and $45 million, Jacksonville is set to pay an exorbitant rate for a category of player that shouldn't break the bank: an undersized (6-2, 215 pounds) off-ball linebacker who hasn't displayed a penchant for pressuring quarterbacks or making plays in coverage. Oluokun is plenty active after leading the NFL in tackles last year with 192, and it's possible he'll make another leap in other parts of his game. But the money could have been better spent elsewhere, and a comparable replacement likely was available at a much more reasonable price.

8. Brandon Scherff, G, Jaguars

A five-time Pro Bowl selection for Washington, Scherff might appear to be a natural candidate to provide Lawrence with some much-needed protection. But an offensive line is only as good as its weakest link, and the Jaguars still have multiple ones amid the puzzling decision to give left tackle Cam Robinson the franchise tag and center Brandon Linder mulling retirement. Resetting the guard market with a three-year, $49.5 million deal is an iffy move for a franchise still seemingly at least a year away from making a legitimate push - and it's even harder to justify so when the recipient is a 30-year-old who has missed 22 games in the last four years.

9. Tyler Conklin, TE, Jets

Gang Green desperately wanted to find its long-sought answer at tight end. But the Jets got carried away with improving at the position at a time when there was a significant mark-up on the top options available. 

Before inking Conklin, the Jets locked in former Cincinnati Bengal C.J. Uzomah to a three-year, $24 million deal. Then general manager Joe Douglas doubled down with by handing Conklin a three-year, $21 million contract. That spend should signify plenty of two tight-end sets as the offense looks to provide Zach Wilson with better support in the quarterback's second year in the NFL. Yet it's difficult to see how Conklin would justify this kind of buy-in after being merely serviceable in his lone year as a starter.

10. Evan Engram, TE, Jaguars

It's only fitting to close out this list with another signing by Jacksonville. A one-year contract might not seem like much cause for consternation, but the $9 million deal for Engram feels like the Jaguars decided to pay a premium merely for the label of a first-rounder - and one who never cashed in on his considerable potential while with the New York Giants. For all the money doled out to remake the receiving corps, this team now has a glut of slot options without much to offer on the outside. Maybe that's an intended feature of a Doug Pederson offense rather than a bug, but it doesn't inspire much confidence.

Follow Michael Middlehurst-Schwartz on Twitter @MikeMSchwartz.