A year ago, the New York Jets wanted Malachi Corley so much that they traded up and selected him with the first pick in the third round of the 2024 NFL draft.

On Tuesday, they cut him, a source confirmed to ESPN.

There were jobs available in the Jets' receiving corps, but Corley was leapfrogged by a handful of players, including rookie free agents. He played 53 offensive snaps in the preseason, fifth among the New York receivers, but managed only one catch for 8 yards. He also returned four kickoffs for 101 yards, the story said.

Jets and wide receiver Garrett Wilson reached agreement on a four-year, $130 million contract extension that includes $90 million guaranteed.

It marks the first time in NFL history that a receiver has received an average over $31 million after playing only three seasons. Wilson now will be under contract the next six seasons, through 2030.

Related Players: Josh Reynolds, Allen Lazard, Arian Smith, Malachi Corley

This is a massive vote of confidence from a team that desperately needs Wilson to play out of his mind to support a middling group of pass-catchers. Justin Fields isn't likely to be a voluminous passer, but Wilson presents an obvious opportunity to soak up a ton of the target share in 2025. We currently have him ranked as a mid-tier WR2.

After a strong offseason, Reynolds is the clear-cut leader for the WR2 job. He arrived with little fanfare as a free agent (one year, $2.8 million), mainly because of a down 2024 with the Broncos and Jaguars. It also was a turbulent year; he suffered arm and head wounds in a shooting.

New Jets coach Aaron Glenn knows Reynolds from their time in Detroit, where the 30-year-old receiver was a solid complementary option. Beyond Garrett Wilson, the Jets lack big-play ability after cutting Davante Adams. Reynolds has separated from Allen Lazard and others.

Related Players: Tyler Johnson, Arian Smith, Malachi Corley

This seems a little surprising, until you look at the rest of the depth chart, that is. With Justin Fields at the helm, we should expect a very run-heavy offense in New York, and even if he loses the job, we would expect more of the same from Tyrod Taylor. Reynolds makes for an interesting stacking partner with Fields, though he's much closer to a fantasy WR5 than a WR2.

The Jets are cutting WR Davante Adams, per source.

Unable to find a trade partner for the 3x All-Pro, New York is moving on and freeing up almost $30M in cap space.

Related Players: Garrett Wilson, Allen Lazard, Malachi Corley, Xavier Gipson

Adams played in 11 games for the 5-12 Jets, and it looks like he could end up joining Aaron Rodgers somewhere else in 2025. Lazard is also almost guaranteed to be playing elsewhere next season, as New York will try to regroup under new head coach Aaron Glenn.

Rookie WR Malachi Corley was active yesterday, but did not get in the game. Ulbrich's explanation:

Corley has made "major improvement in maturity, but at the same time, (he) still has a ways to go. Still has a ways to go from an offensive perspective. And as we all know, if you're going to be the fourth receiver -- because of the talent within that room -- you have to find a significant role on special teams."

It's not a great sign for Corley, as the trend is rookie WRs need to make impacts in their first season to have it translate to a valuable fantasy career. At this point, Corley is probably only a household name in the dynasty community. As Cimini pointed out in his post, the Jets traded up to take him at the top of the 3rd round. Cimini also wondered if the coaching staff doesn't think he's ready from a maturity standpoint, what did they miss in the pre-draft evaluation process?

Tyron Smith has been ruled out for Sunday. Davante Adams is on track to play.

Related Players: Garrett Wilson, Xavier Gipson, Malachi Corley

Adams had an illness and wrist injury pop up through the week, but it seems like he'll be good to go, which places him in WR2 range as a volume play.

Davante Adams is not practicing today, Ulbrich said. He has an illness and some wrist soreness.

Related Players: Garrett Wilson, Xavier Gipson, Malachi Corley, Tyler Conklin

Adams took 13 targets for 31 yards last week, which is definitely enough to make anyone feel ill. He now has 206 yards on 38 targets over his Jets tenure, for a cool 5.42 yards per target. He's definitely getting the volume, but should be considered a moderate WR2 if he suits up.

The Jets are placing WR Allen Lazard on Injured Reserve because of a chest injury, sources say. Aaron Rodgers’ good friend and trusted target is out at least four games.

Related Players: Garrett Wilson, Davante Adams, Mike Williams, Malachi Corley

The long-awaited Mike Williams trade feels very unlikely to happen now, but that doesn't necessarily mean he's a fantasy target, either. Lazard is an easy drop anywhere he's dangling on the roster bubble, and we should see some heightened red-zone usage out of Wilson, Adams, and Tyler Conklin moving forward.

Mike Williams available in Week 1, Saleh says. Had a nice day in practice today, with 4/5 catches, per Saleh. So there you have it: Mike Williams will play vs SF.

Related Players: Garrett Wilson, Xavier Gipson, Malachi Corley

If everyone is healthy, namely Aaron Rodgers, the Jets could be interesting in fantasy for the first time in decades. Williams could carve out a role as a fantasy WR3 with upside for more.

The Jets activated WR Mike Williams from the Physically Unable to Perform (PUP) list after he passed his physical.

Related Players: Garrett Wilson, Xavier Gipson, Malachi Corley

This doesn't necessarily mean he'll be a full-go by Week 1 but it's a step in the right direction. If everyone is healthy, namely Aaron Rodgers, the Jets could be interesting in fantasy for the first time in decades. Williams could carve out a role as a fantasy WR3 with upside for more.