The Raiders and cornerback Jack Jones are parting ways, one way or another.

The team is attempting to trade the veteran cornerback, according to a person with knowledge of the situation. But the Raiders will waive Jones if they can’t make a deal by Monday, saving the club $3.4 million in cap space.

If the Raiders cut Jones, he will be subject to the waiver-waiver process. If he clears waivers, he would be free to sign with any team as a free agent

The Raiders claimed Jones, 27, off waivers from the Patriots late in the 2023 season. The driving force behind the decision was then-interim coach Antonio Pierce, who coached Jones in high school at Long Beach Poly in California and college at Arizona State. Jones, listed at 5-foot-11 and 175 pounds, was New England’s fourth-round pick in 2022.

Jones played well down the stretch in 2023, but was not as effective last year. He was the NFL’s 102nd-best cornerback out of 116 players, according to the website Pro Football Focus. The Raiders also made a coaching change this offseason, replacing Pierce with Pete Carroll.

Trading or releasing Jones means the team will have two new starters at cornerback next season. Nate Hobbs signed with the Packers in free agency.

The Raiders do return starter Jakorian Bennett and 2024 fourth-round pick Decamerion Richardson. They also signed Eric Stokes from the Packers in free agency.

The Raiders could add to their cornerback room in the draft as early as the sixth overall pick. They’ve scheduled a private workout and a visit with Michigan cornerback Will Johnson, who had two interceptions last season.

The 22-year-old, listed at 6-foot-2 and 202 pounds, is the type of physical, aggressive player Carroll covets at that position.

Contact Vincent Bonsignore at [email protected]. Follow @VinnyBonsignore on X.