NFL free agency is off and running, and we're keeping track of every major signing, trade and release of the 2021 offseason, with analysis from our NFL Nation reporters and grades from our experts. The new league year began March 17, meaning free-agent signings could be made official after that. The first round of the 2021 NFL draft begins April 29 on ESPN.

The New York Jets have been one of the most active teams, signing four projected starters -- defensive linemen Carl Lawson and Sheldon Rankins, linebacker Jarrad Davis and wide receiver Corey Davis. They also landed two players who figure to see playing time in sub packages, wide receiver Keelan Cole Sr. and safety Lamarcus Joyner. They still have several holes, especially on offense. The line still needs significant work.

Here's a breakdown of every 2021 NFL free-agent signing by the Jets, and how each will impact the upcoming season:

Carl Lawson, DE

Lawson will receive a three-year, $45 million deal, a source told ESPN. His $15 million-a-year average makes him the highest-paid player on the team.

What it means: The last time the Jets made a significant financial investment in an edge player was 2008 (Calvin Pace). They had to do something because coach Robert Saleh's 4-3 scheme demands a pass-rushing presence at defensive end. Lawson is a quick-twitch rusher who can line up alongside defensive tackle Quinnen Williams, giving Saleh an inside-outside combo. Lawson recorded 38 pressures from right end/right outside linebacker in 2020, the most in the NFL. He's an ascending player.

What's the risk: The Jets paid huge bucks ($30 million guaranteed) for Lawson, who was a situational player for the first three years of his career. In 2020, Lawson became an every-down player for the first time and finished with 5.5 sacks. He has 20 sacks in four years, hardly an eye-popping amount -- but welcome to life in the edge-rusher market. They're hard to find and cost a premium. Lawson is known for his relentless style, and that's the mentality Saleh is trying to create on both sides of the ball.

Corey Davis, WR

The wide receiver's deal with the Jets will be for three years and $37.5 million, sources told ESPN's Adam Schefter.

What it means: He's a starting-caliber receiver for Sam Darnold -- or whoever plays quarterback in 2021. Davis is in the Denzel Mims mold, giving them two 6-foot-3 receivers on the outside. That should help with contested balls. The issue with Davis is ... well, he has underachieved. Drafted fifth overall in 2017, he has yet to reach 1,000 yards in a season. He was supposed to be the Titans' WR1, but he lost that to A.J. Brown. Davis perked up last season after the Titans declined his fifth-year option -- 64 catches, 984 yards and five touchdowns. He had an impressive 71% catch rate. Is that his ceiling or the start of a career turnaround?

What's the risk: There's considerable risk, considering the guarantee -- $27 million, which ranks ninth among wide receivers (pre-free agency). That's a lot of money for a player who hasn't reached expectations. Essentially, the Jets are betting on potential over past performance. That can be dicey in free agency, especially when it's tied to one good, if not stellar, season. It's a daring move by general manager Joe Douglas, who evidently didn't want to jump into the Kenny Golladay sweepstakes.

Tevin Coleman, RB

The Jets have agreed to terms with the former San Francisco 49ers running back on a one-year contract that can be worth up to $2 million, a league source told ESPN's Adam Schefter.

What it means: It proves Saleh is capable of landing his old players. Until Coleman, the former 49ers defensive coordinator had been shut out in his pursuit of San Francisco free agents. This signing was predictable. The Jets needed an experienced back to join La'Mical Perine, Ty Johnson and Josh Adams, and they weren't about to pay big money. So they turned to Coleman and gave him a modest contract, which can max out at $2 million. There's a comfort level with Coleman because he knows the offensive coaches and the zone-running scheme. This doesn't eliminate the need to draft a running back. They still don't have an RB1.

What's the risk: Coleman is coming off an injury-plagued season that saw him limited him to 28 carries and 63 offensive snaps. When he played, he wasn't very good (1.9 yards per carry). He was a decent back in 2019, when the 49ers went to the Super Bowl, but that was a long time ago in running-back years. That said, the risk is minimal because the contract is very manageable. If his knees hold up, he should be able to be part of a running back-by-committee.

Keelan Cole, WR

The Jets have agreed to terms with the former Jacksonville Jaguars receiver, who will sign a one-year, $5.5 million contract, a source told Schefter.

What it means: No, he's not JuJu Smith-Schuster, whom the Jets engaged in talks. Cole is a versatile, borderline starter who projects as the Jets' WR4, behind Corey Davis, Denzel Mims and Jamison Crowder. For a change, they actually have depth. Cole also can return kickoffs (91-yard TD last season), an added bonus. No, this isn't a "wow" signing, but he can be productive. Playing on one of the worst offenses, he posted career numbers in 2020 -- 55 catches for 642 yards and five touchdowns. He played primarily in the slot, but he has played extensively on the outside. So, no, this probably doesn't mean the end for Crowder.

What's the risk: The $5.5 million contract is fairly pricey for a WR4, but several teams were interested in Cole. It's a relatively safe move, though. Unlike the injury-prone Breshad Perriman, who agreed to a deal with the Detroit Lions, Cole never has missed a game in his career. By attacking the receiver position in free agency (Cole and Davis), GM Douglas seems to be indicating he won't go in that direction early in the draft.

Sheldon Rankins, defensive tackle

Sheldon Rankins signed a two-year deal worth up to $17 million on Sunday.

What it means: The Jets already had a good interior tandem with Quinnen Williams and Folorunso Fatukasi, but there's one thing you need to know about coach Robert Saleh's 4-3 defense: It starts with the front four. The defensive line has to be good and deep or the system doesn't work. Rankins, the 12th overall pick in 2016, projects as an interior starter alongside Quinnen Williams. Both are 3-technique tackles, so this will require Rankins shifting to the 1-technique (nose tackle). That means fewer snaps for Fatukasi. The man has talent (see: eight sack season in 2018). In 2020, he had a career-low 1.5 sacks, but he ranked 15th out of 74 defensive tackles in pressure percentage (minimum: 250 snaps), per NFL Next Gen Stats.

What's the risk: With Rankins, it's all about his health. Therein lies the risk. Check out his injury history: Broken fibula. Broken foot. Sprained MCL. Torn Achilles' tendon. In fact, he's had surgery on both Achilles' tendons; the second (2019) was preventative. He suffered from Haglund's Deformity, an enlarged bone spur on his heels that puts pressure on the Achilles' tendons. Rankins says the issue has been resolved and he's good-to-go. If he's right, the Jets scored a free-agent coup. A source said the deal is worth up to $17 million; the base value wasn't immediately available. It's not an insignificant investment, giving this a boom-or-bust feel.

Vinny Curry, DE

The Jets have signed the former Philadelphia Eagles pass-rusher to a one-year, $1.3 million contact.

What it means: The Jets are paying a lot of attention to the defensive line, adding Curry to a free-agent class that includes Lawson and Rankins. The ideal role for Curry is that of situational rusher. You could see him and Lawson as the bookend rushers in the nickel package. Curry, who will be 33 on opening day, might be old, but he still knows how to rush the quarterback. In 2020, he registered 19 pressures in 148 rushes -- a 12.8%, a fraction better than Lawson (12.5%), per NFL Next Gen Stats.

What's the risk: His contract is modest ($1.3 million in base value), so there's no risk there. The only potential downside is whether his presence will impede the progress of younger edge players such as John Franklin-Myers, Jabari Zuniga, Bryce Huff and Kyle Phillips. Curry is no spring chicken; he's now the oldest player on the roster.

Lamarcus Joyner, S

The Jets agreed to terms on a one-year deal with the former Las Vegas Raiders safety.

What it means: Joyner, 30, provides flexibility and depth at safety -- yes, safety. After playing the slot-corner position last season in Las Vegas, he will return to safety, his natural position. The deal is worth up to $4.5 million, so he's not coming to ride the bench. Saleh has plans for him; he wants to use him in a safety/nickel role. This will be a welcome change for Joyner, who didn't like the slot. He hasn't been a terribly productive player -- only one interception and six passes defensed in 643 snaps last season.

What's the risk: Basically, the Jets have three free safeties -- Marcus Maye, Ashtyn Davis and Joyner. This should be interesting because Saleh likes to play with a single-high safety. Maye and Davis have the ability to play strong safety, but they're better away from the line of scrimmage. Could Joyner be Maye insurance? Maye can't be happy with his franchise tag after his agent blasted the Jets for refusing to commit a long-term deal. If the situation goes sideways, they have an experienced backup plan in Joyner.

Jarrad Davis, LB

The Jets have agreed to terms on a one-year, $5.5 million contract (fully guaranteed) with the former Detroit Lions linebacker.

What it means: To say the Jets were desperate for a linebacker would be an understatement. It was their thinnest position on the roster, and that's saying something. But here's the catch: Their only proven holdover, C.J. Mosley, plays the same position as Davis -- middle linebacker. They could keep both and slide Davis to outside linebacker in the 4-3 front, but the Jets are open to trading Mosley, sources said. They would love to unload Mosley's onerous contract, but it won't be easy because it still contains $14 million in fully guaranteed money over the next two years. This move to add Davis feels like the Jets are ready to move on from the disappointing Mosley.

What's the risk: There's not much risk in a one-year contract, albeit for a healthy $7 million. Davis, a first-round pick in 2017, is a run-and-hit linebacker. His coverage skills are poor, but he is effective as a blitzer (10.5 career sacks). He fell out of favor with Detroit's previous coaching staff and was benched last season; he played 29% of the defensive snaps. Ex-coach Matt Patricia never figured out how to use him. Davis is a team-oriented player with a good work ethic. Saleh has big plans for him; Davis is the first signing of the Saleh era.

Dan Feeney, G

The Jets have agreed to terms on a one-year, $3.5 million deal with the former Los Angeles Chargers offensive lineman.

What it means: Feeney is expected to replace Pat Elflein, which is to say he projects as a top backup/rotational player. The Jets tried to re-sign Elflein, but he went to the Carolina Panthers. At $3.5 million, Feeney, 26, is a good depth signing because he has a ton of experience -- 16 starts at center, 41 at left guard. The analytics folks haven't been kind to him. In 2020, he ranked 35th out of 35 centers in pass block win rate, per ESPN Stats & Information. In 2019, he ranked 50th out of 69 guards.

What's the risk: This is a low-risk move. Douglas, a former offensive lineman, likes to collect experienced, tough-minded guys to fill out an eight- or nine-man depth chart. Feeney fits the bill. He can be the top backup to left guard Alex Lewis and center Connor McGovern.

Justin Hardee, CB

The Jets have agreed to terms on a three-year deal with the former New Orleans Saints special-teams standout.

What it means: The Jets' special teams, among the league's best in 2018 and 2019, took a dip last season. Hardee will help the unit get back to past form. He's outstanding, especially as a gunner. Over the past three years, he led the Saints with 24 tackles on special teams, also recording a blocked punt that he returned for a touchdown. He's a former college wide receiver who transitioned to cornerback upon arriving in New Orleans in 2017. He can play corner in a pinch (only 111 snaps over the past three years), but he will earn his keep on "teams."

What's the risk: The financial details weren't immediately available, but the three-year agreement indicates there's a nice chunk of guaranteed money in the contract, relatively speaking. Even so, there's not much risk. He's only 27 and doesn't have an injury history. This shows a commitment to rebuild the special teams.

Tyler Kroft, TE

The Jets have agreed to terms on a one-year deal with the former Buffalo Bills tight end.

What it means: This is another inexpensive depth signing by Douglas. Essentially, Kroft replaces Daniel Brown (free agent) on the depth chart, behind Chris Herndon and Ryan Griffin. He won't put up big numbers as a wide receiver (only 22 catches over the past three years), but he can play in two-tight-end packages and contribute on special teams.

What's the risk: Kroft's best season was a 42-catch campaign for the Cincinnati Bengals in 2017. He parlayed that into a nice contract in 2019 (three years, $18.8 million), but he never panned out for the Bills after foot surgery in OTAs that year. He eventually reworked his contract, eliminating the final year. There's no risk for the Jets.