Smizzy Posted February 14, 2006 Share Posted February 14, 2006 Jets | Team working to reduce Pennington's cap number Mon, 13 Feb 2006 19:01:41 -0800 Ken Berger, of Newsday, reports the New York Jets and agents for QB Chad Pennington have begun discussions aimed at dramatically reducing the injured quarterback's salary cap figure for 2006, according to a source close to the situation. Pennington's contract calls for a base salary of $6 million this season. Pennington also is scheduled to receive a $3 million roster bonus on the first day of the league year in early March. Those figures, plus $3 million of prorated signing bonus money, add up to a $12 million cap figure for 2006. They have the option of converting his 2006 base salary to guaranteed money, which would allow them to prorate it over the next four years for cap purposes. The expected move would reduce Pennington's cap figure to $7.5 million in 2006. The team is believed to be seeking a much more aggressive adjustment, including a playing-time incentives clause that would further reduce his cap figure while forcing Pennington to earn some of the money the team already has agreed to pay. Something must be worked out by the end of the month, when the Jets will have to make plans to bring in a quarterback to compete with Pennington . Link to comment Share on other sites More sharing options...
BigJermaineFromQnz Posted February 14, 2006 Share Posted February 14, 2006 yay Link to comment Share on other sites More sharing options...
Smizzy Posted February 14, 2006 Author Share Posted February 14, 2006 C-H-A-D...DONE,DONE,DONE Link to comment Share on other sites More sharing options...
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