Monday, February 25, 2013
Contract restructure for Holmes?
By Tim Kavanagh
Heading into the offseason, we knew that the New York Jets had significant work to do to get under the salary cap, and it was no surprise to see them cut ties with veterans Bart Scott, Calvin Pace, Eric Smith and Jason Smith last week to clear some room. It turns out there could be more moves on the way, including something with WR Santonio Holmes.
ESPN NFL Insider Adam Schefter reported Sunday night that the Jets will try to restructure Holmes' contract, a deal that has him slated to make $11.25 in 2013, $7.5 million of which is guaranteed. It would seem that Holmes -- coming off a season-ending foot injury -- has all the leverage here, since the Jets would face an $11 million cap number for him if they cut him. However, Rich Cimini of ESPNNewYork.com notes another detail that may shift the balance back in the club's direction:
Rich CiminiPotential staredown with Holmes
"Ah, but take a closer look; it's not as much leverage as you might think. There's off-set language in the contract, meaning Holmes -- if released -- can't earn more than $7.5 million in 2013. In other words, he can't double dip. He's maxed out at $7.5 million, so it might behoove him to take a haircut on that $11 million, knowing he'd make the most money by remaining with the Jets. Holmes is a proud, stubborn and prickly guy, so there's no telling how he'll react to this. He could tell the Jets to jump in the lake. If he does, as much as it would hurt cap-wise, I think there's a chance they could cut him. Of course, a healthy Holmes is the only playmaker on the Jets' offense. As weird as this may sound, Rex Ryan believes Holmes' season-ending injury hurt the team more than Darrelle Revis' season-ending injury."