The Jacksonville Jaguars' risky trade for Calvin Ridley ended up working out well in 2023 despite their failure to make the playoffs. Now, the front office has to figure out a new contract for the 29-year-old wideout.

The Jaguars want to keep Ridley but hammering out a new deal won’t be easy, according to Dan Graziano and Jeremy Fowler of ESPN.

Graziano and Fowler write the following: “The Jaguars very much want to re-sign receiver Calvin Ridley, who had a good experience in Jacksonville, but they know that will be tough if he reaches the negotiating period starting March 11. The expectation is he will put up a rather gaudy number on a per-year average. Teams see elite ability there.”

It makes sense for Ridley to wait for the negotiating period so that he can see what other teams want to offer. Whether it leads him to find a new opportunity or at least receive an offer he can use as leverage in his negotiations with the Jaguars, testing the markets is an obvious call. But it puts the Jags in a worrisome spot. It's probably best to get a feel of what’s out there for him rather than haphazardly throwing him the bag.

Ridley tallied 1,016 receiving yards and eight receiving touchdowns, which led the team, along with 76 catches, which ranked second only to Evan Engram's 114. Although he had a tendency to be a bit streaky, his playmaking was certainly helpful for Trevor Lawrence and the Jaguars' offense.

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Silhouette of Jarvis Landry next to Jacksonville Jaguars QB Trevor Lawrence

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Jacksonville Jaguars quarterback Trevor Lawrence and running back Travis Etienne with general manager Trent Baalke. Baalke has a speech bubble that says “You’ve earned it.”

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Jaguars general manager Trent Baalke said that he wants to keep his free agents but that it doesn’t always work out like that. Especially with Lawrence's rookie deal expiring soon, Jacksonville is pretty much out of time to go spending on huge deals. But the team clearly has a good thing going and losing the wideout they spent draft picks to get. Even though losing Ridley in free agency conveys a lower draft pick, it could be hard to replace his production.

The Jaguars embarrassed themselves last season by missing the playoffs entirely despite owning an 8-3 record heading into December. Keeping Calvin Ridley is an important step to avenging last season and staying competitive with the likes of C.J. Stroud's Houston Texans and Anthony Richardson's Indianapolis Colts.