JAGUARS TO RELEASE MALIK JACKSON, TASHAUN GIPSON, CARLOS HYDE, JERMEY PARNELL

Roy K Miller/Icon Sportswire

The Jaguars are set to release three  veterans. The team will save big by doing so. 

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After reports surfaced earlier this week that the Jaguars were looking to shop defensive tackle Malik Jackson and running back Carlos Hyde, it now appears that the Jags did not successfully find trade partners for either veteran. The team will release both. On Wednesday Ian Rapoport reported that the Jaguars were also taking calls about veteran free safety Tashaun Gipson, who will also be released. 

Malik Jackson's release, first reported by Josina Anderson, comes as a bit of a surprise. It seemed likely that the Jaguars would be able to find a trade partner for the highly productive 3-tech defensive tackle. But my guess here is that there was no team out there willing to give up draft capital AND take on Jackson's massive contract. Jackson was due over $13 million in 2019. $11 million of that cap hit will now come off the books for the Jaguars. Jackson's release also makes way for 2018 first round pick Taven Bryan to enter the starting lineup. 

Carlos Hyde's release, first reported by Adam Schefter, comes with little surprise. Hyde was unproductive in 2018 and is nearing the age of 30. He'll likely get signed by some team during the offseason, but there was no reason for a team to give up valuable draft picks to acquire the disgruntled RB. Releasing Hyde will save the team $4.7 million against the cap in 2019. 

UPDATE: The Jaguars have also parted ways with veteran safety Tashaun Gipson, saving the team $7 million against the cap. The Jaguars have Jarrod Wilson and Cody Davis both on the roster, who could potentially compete for the starting free safety job. Alternatively the Jaguars could sign a cheaper veteran safety like Eric Weddle.

UPDATE: The team has also released veteran right tackle Jermey Parnell. His replacement, Will Richardson, is already on the roster. The release saves the team another $5 million. 

The Jaguars now have around $30 million in cap space. They'll likely use the new found space to sign soon to be free agent QB Nick Foles.