Let Coles go
Let him go, and take the first round pick the Redskins would owe them as compensation since he's a restricted free agent who the Jets tendered.
This is a no-brainer. Wide receivers don't win championships, and it's foolish to allocate too much money to the position. Remember the Jets are already paying Wayne Chrebet and Santana Moss decent money, so if they match this offer sheet, they will be allotting way too much money to the wideouts. That is a bad way to manage the cap.
If Coles leaves, then the Jets can go out and fill one of their biggest needs - a 6-2, 6-3 receiver like former Dolphin Orande Gadsen, for much less money. A player like this isn't going to sign with the Jets with their top three receiver slots locked up.
Don't get me wrong, Coles is an excellent talent, but remember he had one standout season. You have to be careful overpaying a player based on one year. Also remember he isn't much of a deep threat. He is good at short-intermediate routes, but still doesn't translate his 4.3 speed to the field very well.. That has been a rap on him since he arrived in New York.
The Redskins first round pick is the 13th of the first round. If the Jets let Coles go, they will have the 13th and 22nd picks in the first round and should be able to land two potential starters. With one of those two selections, they should be able to land Georgia linebacker Boss Bailey. He is the type of speed linebacker the Jets desperately need. Hey maybe they could grab Miami's 6-2, 212 pound wideout Andre Johnson with the 13th pick, and then get Bailey at 22.
The Jets made the right move by not paying Keyshawn Johnson the $7 million a year he wanted. They should repeat history and let Coles walk.
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