New England Patriots head coach Jerod Mayo gave a clear sign of what the team plans to do this offseason.

The first-year coach strongly indicated that the Patriots will be spending in free agency, acknowledging the team's cap space entering the 2024 offseason.

“We’re bringing in talent, 1000 percent,” Mayo said when asked during an interview on WEEI if he'd have the ability to spend in free agency. “Have a lot of cap space — and cash. Ready to burn some cash!”

The Patriots are set to have $66 million in cap space entering the offseason, which is the fourth-highest figure in the league, according to OverTheCap. But there are a few ways they can make that number even higher. If they cut J.C. Jackson, they'd have over $80 million in cap space. They could also make a few other moves with underperforming or underutilized veterans to create over $90 million in cap space.

But there is a big elephant in the room. The Patriots haven't been too willing to spend over the last couple of seasons. They ranked 30th in cash spending in 2023 and were dead last in cash spending in 2020, according to ESPN. However, they were third in the league in cash spending in 2021, when they went on an unusual free agency splurge.

It obviously remains to be seen if the Patriots will have a similar splurge this offseason as they haven't had this much cap space since 2021. But if they do spend, a lot of that money might have to be spent on retaining their own players. Several key members of the team, such as Kyle Dugger, Josh Uche, Trent Brown, Michael Onwenu, Hunter Henry and Kendrick Bourne, are key free agents this offseason.

The Patriots could want to start entirely fresh though considering they went 4-13 this past season. They already parted ways with the most successful coach in NFL history, so maybe they want to start anew with their roster, too.

Which position is Jerod Mayo targeting to use for the Patriots with the No. 3 overall pick? 

In addition to loads of cap space, the Patriots also have one of the most valuable assets in the sport this offseason: a top-three draft pick. The Patriots hold the No. 3 overall pick in the 2024 NFL Draft, which will be their highest draft selection in Robert Kraft's 30 years of ownership.

Mayo tipped his hand on what position the Patriots could use the pick on.

“We're going to take the best available player for the biggest need on the team; offensive line, receiver, quarterback — pick your [choice],” Mayo said.

If that's the route the Patriots want to go, they'll have several prospects available that fit that mold. Of course, there are the three quarterbacks – Caleb Williams, Drake Maye and Jayden Daniels – that analysts view a tier above the rest. The Patriots will have at least one of those players available to them in the draft.

But there are also standout wide receiver prospects like Marvin Harrison Jr., Malik Nabers and Rome Odunze. There's also a pair of elite offensive tackle prospects as well in Joe Alt and Olu Fashanu.

Several options await the Patriots in the coming months.