ARLINGTON, TX - JANUARY 03: Kirk Cousins #8 of the Washington Redskins reacts after throwing a touchdown pass against the Dallas Cowboys during the first quarter at AT&T Stadium on January 3, 2016 in Arlington, Texas. (Photo by Ronald Martinez/Getty Images)

Kirk Cousins could make $60 million in Year 1 of his next massive NFL contract

This would be a huge contract.

The New York Jets are reportedly expected to offer current Washington Redskins quarterback and impending free agent Kirk Cousins a contract that includes a guaranteed $60 million salary during his first year, sources told the New York Post.

Cousins is expected to be offered a contract that could would exceed Jimmy Garoppolo's recent deal with the San Francisco 49ers, which includes a $27.5 million annual total. According to the Post, many league sources believe the quarterback could be offered a five-year, $150 million contract.

The Jets are the favorites to sign Cousins as they enter free agency with a projected $73.2 million in salary-cap space, which is the fourth-highest total among NFL teams, according to The franchise also shed an additional $4.6 million by declining the $500,000 option on offensive tackle Ben Ijalana on Monday.

New York is also expected to cut defensive end Muhammad Wilkerson and running back Matt Forte, which would give the franchise $92 million in cap space, trailing only the Cleveland Browns' league-best $110 million total.

The Jets would still have a remaining $30 million in cap space if they offer Cousins the projected deal, which wold include lower cap figures following his first season.

NFL teams will be able to officially negotiate with the quarterback on March 12, which marks the beginning of this year's free agency class.