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.
Carter signed a three year contract extension with $19 million or so in guarantees and a maximum contract amount of $33 million.
#Jets and CB Michael Carter II have agreed to a 3-year, $30.75M extension, up to $33M with slightly over $19M in total guarantees. Carter is now the highest paid slot corner in the NFL (@TomPelissero). pic.twitter.com/YvbO830FQS
— uSTADIUM (@uSTADIUM) September 3, 2024
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.
Just a reminder that Michael Carter II ranked 1st among slot CBs in just about every category last season
— Harrison Glaser (@NYJetsTFMedia) September 3, 2024
SO glad this got done
Staying with the #Jets, where he belongs 🤝 pic.twitter.com/JgoBVkH1TY
Beyond that, he isn’t elite for a slot cornerback. Rather, Carter is elite for a cornerback, period.
Top 15 CBs based on PFF Coverage Grade (2023):
— uSTADIUM (@uSTADIUM) September 4, 2024
1. Sauce Gardner (NYJ) - 90.8
2. Jaylon Johnson (CHI) - 90.4
3. DaRon Bland (DAL) - 89.9
4. Darious Williams (JAX) - 85.3
5. Derek Stingley Jr. (HST) - 84.9
6. Rasul Douglas (BUF) - 84.4
7. Michael Carter II (NYJ) - 83.3
7.…
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?
