flgreen Posted April 26, 2013 Share Posted April 26, 2013 .. Jets clear over $5.1 million in cap space by restructuring D’Brickashaw Ferguson’s contract By Brian McIntyre | Shutdown Corner – 1 hour 2 minutes ago.. . . Jets left tackle D'Brickashaw Ferguson has restructured his contract (USA Today Sports Images) For the second time in as many offseasons, New York Jets offensive tackle D'Brickashaw Ferguson has restructured his contract to help the Jets free up $5.128 million in cap space. Ferguson was scheduled to earn $8 million in 2013, a sum comprised of a $7.25 million base salary (which was guaranteed for skill) and a $750,000 workout bonus, and had a cap number of $10.716 million. According to a source with knowledge of the restructured contract, Ferguson will still earn $8 million, but his $7.25 million base salary has been reduced to the league minimum for a player with seven accrued seasons ($840,000) and the remaining $6.41 million has been converted to a signing bonus that will be prorated over the next five seasons. Ferguson's $840,000 base salary is guaranteed for skill and his $750,000 workout bonus is unchanged. As a result of the restructure, which is similar to the one that the 2006 first-round pick agreed to last February, Ferguson's cap number has decreased to $5,588,667, a cap savings of $5.128 for the 2013 season. The Jets are currently $12.379 million under their adjusted cap number of $126.528 million for the 2013 season. Ferguson's cap numbers in 2014 through 2017 will increase by $1.2825 million which figures to lead to further adjustments. Ferguson's cap number the next two seasons will be $11.699 million and will jump to $14.107 million in 2016 and $14.307 million in 2017, the final year of his contract. To fix a tight salary cap situation this offseason, the Jets purged their roster of several veterans, releasing linebackers Bart Scott and Calvin Pace, nose tackle Sione Po'uha, offensive tackle Jason Smith, and safety Eric Smith. The Jets have since re-signed Pace to a veteran minimum contract. Link to comment Share on other sites More sharing options...
HessStation Posted April 26, 2013 Share Posted April 26, 2013 Nice! Link to comment Share on other sites More sharing options...
flgreen Posted April 26, 2013 Author Share Posted April 26, 2013 I wonder why they choose today of all days to do this. Money for Chris Ivory trade? Link to comment Share on other sites More sharing options...
Sperm Edwards Posted April 26, 2013 Share Posted April 26, 2013 $14M for an offensive lineman? Should have just kept Revis, lol. Link to comment Share on other sites More sharing options...
#27TheDominator Posted April 26, 2013 Share Posted April 26, 2013 Mortgaging the future! Link to comment Share on other sites More sharing options...
Stonehands Posted April 26, 2013 Share Posted April 26, 2013 I have heard that if they cut Sanchez they take a $5 million hit his year. Weird how that matches what Brick saves us. Link to comment Share on other sites More sharing options...
pedro55 Posted April 26, 2013 Share Posted April 26, 2013 Sometimes I wonder what they are saving their money for. I hope Woody and Idzik are working on some legit plan and not a NY Knicks like plan where they hope to land some star, in this case, a Matt Ryan lets say, and then wind up going bust. And there are no Carmelo Anthony QB types of trades in the NFL. Link to comment Share on other sites More sharing options...
ZachEY Posted April 26, 2013 Share Posted April 26, 2013 Mortgaging the future! Unless D'Brick is cut after this season, maybe next too, it should hardly matter. I don't see either happening. Link to comment Share on other sites More sharing options...
Stonehands Posted April 26, 2013 Share Posted April 26, 2013 Rich Cimini said on Twitter it was to help offset the cap acceleration required from the Revis trade. It cost us an extra $4 mill against the cap to trade Revis, I think. That would have left us without money to sign the rookies and UDFA's. Link to comment Share on other sites More sharing options...
BroadwayJoe12 Posted April 26, 2013 Share Posted April 26, 2013 Rich Cimini said on Twitter it was to help offset the cap acceleration required from the Revis trade. It cost us an extra $4 mill against the cap to trade Revis, I think. That would have left us without money to sign the rookies and UDFA's. I have heard that if they cut Sanchez they take a $5 million hit his year. Weird how that matches what Brick saves us. And you had to go ahead and bring up the Sanchez cutting coincidence. C*ck tease. Link to comment Share on other sites More sharing options...
SenorGato Posted April 26, 2013 Share Posted April 26, 2013 Good movie since he's very likely to stick through at least the majority of his remaining contract. Link to comment Share on other sites More sharing options...
Stonehands Posted April 26, 2013 Share Posted April 26, 2013 And you had to go ahead and bring up the Sanchez cutting coincidence. C*ck tease. I tried to fix it quickly, though. Link to comment Share on other sites More sharing options...
j4jets Posted April 26, 2013 Share Posted April 26, 2013 I have heard that if they cut Sanchez they take a $5 million hit his year. Weird how that matches what Brick saves us. Or maybe they need to pay about $5.5mil to their day 1 picks alone? Jets need about $9 mil for all their rookie contracts alone. Link to comment Share on other sites More sharing options...
Il Mostro Posted April 26, 2013 Share Posted April 26, 2013 Any chance they might be clearing cap room for a potential trade(s)? Link to comment Share on other sites More sharing options...
Larz Posted April 26, 2013 Share Posted April 26, 2013 PUT THIS JETS DRAFT PICK AND PRO BOWLER IN THE BANNER !!!!!!!!!!!!!!!!!!!!!!!!! Link to comment Share on other sites More sharing options...
j4jets Posted April 26, 2013 Share Posted April 26, 2013 Any chance they might be clearing cap room for a potential trade(s)? Chris Ivory maybe, but that won't get done until tomorrow. Its a possibility. with $14mil in cap space, Jets will need about $9mil to sign their rookies. They'll have $5mil left over for Ivory and possibly Braylon. Im surprised David Harris hasn't restructured. He's making $13mi this year, and $7mil next year. Could easily balance that to $10mil each year. Link to comment Share on other sites More sharing options...
Integrity28 Posted April 26, 2013 Share Posted April 26, 2013 There are still a lot of players available as FA. I'd love it if Brick was making room for us to being back Brandon Moore. Link to comment Share on other sites More sharing options...
Bleedin Green Posted April 26, 2013 Share Posted April 26, 2013 Well now what we know what the restructure was for. Needed to free up money in order to boot Sanchez's sorry ass out the door. Link to comment Share on other sites More sharing options...
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