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Breaking down the Michael Carter II extension: Did the New York Jets get a bargain?

   

Drafted in the fifth round of the 2021 NFL draft, slot cornerback Michael Carter II has become a staple of the New York Jets defense in recent years. Following a recently announced contract extension, that appears set to remain the case for years to come.

NY Jets make NFL history with brilliant Michael Carter II extension

Carter signed a three year contract extension with $19 million or so in guarantees and a maximum contract amount of $33 million.

How did the New York Jets do on this deal?

Well, to put it lightly, this sure looks like a steal to me. Let’s break that down.

Carter has been nothing short of elite as a slot cornerback in recent years.

Beyond that, he isn’t elite for a slot cornerback. Rather, Carter is elite for a cornerback, period.

Given that, it’s notable that Carter’s average annual contract value falls well below that of the typical elite cornerback. If we use the high-end value of $11 million per year, then Carter’s average salary would tie him for 18th highest among cornerbacks.

I have long thought the value of slot corners was a bit low. Top receivers regularly work out of the slot in the modern game. For example, Dallas Cowboys wide receiver CeeDee Lamb is considered one of the top receivers in the league. He played out of the slot on 51.3% of his snaps in 2023. Recently, Lamb signed a contract with an average annual salary of $34 million per year. Carter, the player the Jets would use to cover Lamb the majority of the time, makes about 1⁄3 of what Lamb does.

Putting all that together, Carter seems like a bargain on his next contract. In fact, I’d argue that this might be General Manager Joe Douglas’ finest move to date.

What do you think? Is Carter’s new deal a steal for the Jets?

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