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Miguel notes that Jamie Collins cannot be extended this year, per the CBA. I'm rather surprised that people are already bringing him up only 2 years into his rookie deal. Pretty soon we'll start worrying about rookies who have solid years, and what we're going to do 3-4 years down the road (sarcasm).
Any potential extension of Hightower or Chandler Jones would also likely increase their 2015 cap hits, so that's unlikely to free up any money as well. None of these 3 players are going to help the 2015 cause.
Didn't know that about Collins/CBA. With that said, if he plays the same way he did last year he will be a top of the market FA and approaching him on an extension makes sense next offseason before he has another monster year.
I think it is good business to extend players who are on their rookie contracts for deals that - if the player is interested in security for deals that would be less than FA market prices. Gronk is a good example of this. Certainly AH was not.