Kentucky Jet Posted February 18, 2006 Share Posted February 18, 2006 PENNINGTON WON'T BUDGE Jets quarterback Chad Pennington reportedly has declined a request to reduce his 2006 compensation from $9 million to $1 million. Apparently, there's been no counter from Pennington's camp. This means that either the Jets will keep Pennington and pay him $3 million on March 3, or they'll cut him and take a gross cap charge of $12 million -- and a net cap hit of zero. Look for the Jets to cut the cord. Michael Smith of ESPN kinda-sorta reported during Friday's Around the Horn that the Jets will take Vanderbilt quarterback Jay Cutler with the No. 4 pick in the draft "and start over" at the position. For Pennington, the question becomes whether anyone else will sign him and, if so, whether they'd pay him more than what he could have gotten from the Jets. At a minimum, he's leaving a $1 million on the table. And our guess is that the Jets would have sweetened the pot, if Pennington and agent Tom Condon had shown any inclination to bargain. Elsewhere on the team that is projected to be $26 million over the cap, it's a foregone conclusion that the Jets will release cornerback Ty Law. This will create at least $14 million in 2006 cap space, since Law is scheduled to receive $11 million on March 3 and a $3 million salary. (The move should surprise no one; the primary purpose of the contract he signed with the Jets late in the 2006 offseason was to create the impression that it was a long-term, big-money package, even though it was obvious to the trained eye that it's only a one-year deal.) Likewise, center Kevin Maware is in line to be released, since he "apparently" will refuse to take a pay cut. Other Jets being asked to reduce their contracts for 2006 are running back Curtis Martin, guard Pete Kendal, tackle Jason Fabini, and receiver Laveranues Coles. -------------------------------------------------------------------------------- Lets hope that this is our year! Link to comment Share on other sites More sharing options...
Kentucky Jet Posted February 18, 2006 Author Share Posted February 18, 2006 NEWSDAY BY KEN BERGER STAFF WRITER February 17, 2006 Chad Pennington's agent has rejected the Jets' proposal to slash the injured quarterback's base salary for 2006 to $1 million and force him to earn the remaining $8 million he is owed through incentives. The impasse is not surprising, but it means newly anointed general manager Mike Tannenbaum and Pennington's high-powered agent, Tom Condon, are in staredown mode. The Jets have until March 3 to decide if they can live with Pennington's current contract, negotiate a cap reduction or release him. Pennington is due a $3-million roster bonus that day, a payment that would bring his earnings to $25 million on the seven-year contract extension he signed in September 2004 - a span during which he has played only 18 games. Pennington's cap figure was scheduled to be $12 million this season, but the team already has the discretion to reduce it to $7.5 million by prorating all of his $6-million base salary against the cap for the next four seasons. But the Jets, who are more than $20 million over the projected cap, need to cut deeper. They don't want to pay the $3-million bonus and believe Pennington should account for the fact that he's coming off a second operation on his right (throwing) shoulder in as many seasons. Pennington has missed 22 of 48 regular-season games due to injury the past three seasons. But Pennington's camp is opposed to forfeiting any of the $9 million he is due, a scenario that - if unresolved - could lead to his release, according to a person with knowledge of the situation. According to two more people with knowledge of the situation, the Jets are trying to get running back Curtis Martin, center Kevin Mawae, guard Pete Kendall, tackle Jason Fabini and receiver Laveranues Coles to accept pay cuts or reworked deals. As expected, they have decided to part ways with cornerback Ty Law, who is due an $11-million bonus March 3. Mawae, coming off surgery to repair a torn left triceps, apparently will refuse to take a pay cut and will ask the Jets to release him if they can't handle his projected $4.5-million cap figure. Meanwhile, in a sign that the Jets' new regime is cleaning house throughout the organization, the team fired vice president of operations Mike Kensil last week. Kensil, the son of late Jets president Jim Kensil, spent 29 years with the team. Subscribe to Newsday home delivery | Article licensing and reprint options SPONSORED LINKS Link to comment Share on other sites More sharing options...
NIGHT STALKER Posted February 18, 2006 Share Posted February 18, 2006 Old news...I suggest you go to page 2 and read these posts from yesterday. Link to comment Share on other sites More sharing options...
The Troll Posted February 18, 2006 Share Posted February 18, 2006 Cut his ass. It was a fun 30 games or so over the past 6 years. Time to move on. Link to comment Share on other sites More sharing options...
Kentucky Jet Posted February 18, 2006 Author Share Posted February 18, 2006 Cut his ass. It was a fun 30 games or so over the past 6 years. Time to move on. I agree! Link to comment Share on other sites More sharing options...
spjets Posted February 18, 2006 Share Posted February 18, 2006 Look for the Jets to cut the cord. Michael Smith of ESPN kinda-sorta reported during Friday's Around the Horn that the Jets will take Vanderbilt quarterback Jay Cutler with the No. 4 pick in the draft "and start over" at the position. i'd be shocked.. For Pennington, the question becomes whether anyone else will sign him and, if so, whether they'd pay him more than what he could have gotten from the Jets. NO ONE will pay him the kind of money the jets are. Likewise, center Kevin Maware is in line to be released, since he "apparently" will refuse to take a pay cut. im actually a little surprised.. Link to comment Share on other sites More sharing options...
Scott Dierking Posted February 18, 2006 Share Posted February 18, 2006 This is all negotiation ploys and drawing lines in the sand. These 2 will kiss and make up. It makes too much sense not to. They will met somewhere halfway on the non-guaranteed money and insert some kind of play incentives. The Jets are very fortunate to have Cutler sitting there as leverage. Link to comment Share on other sites More sharing options...
faba Posted February 18, 2006 Share Posted February 18, 2006 Gotta agree with Scott- if you were Chad's agent would you automatically agree to a 7 million pay cut- Just like with unions and businesss the play back and forth is just beginning. In the end there will be a compromise IMO Link to comment Share on other sites More sharing options...
TaborJet Posted February 18, 2006 Share Posted February 18, 2006 I love the hard-line stance the new management is taking. Not bad for a couple of young bucks! Link to comment Share on other sites More sharing options...
Kentucky Jet Posted February 18, 2006 Author Share Posted February 18, 2006 This is all negotiation ploys and drawing lines in the sand. These 2 will kiss and make up. It makes too much sense not to. They will met somewhere halfway on the non-guaranteed money and insert some kind of play incentives. The Jets are very fortunate to have Cutler sitting there as leverage. Scott, I have never given CUTLER a thought as leverage for us! GREAT point! My preference in a young QB is OMAR JACOBS but now that you mention it, I constaltly hear CUTLER's name mentioned( for us) a lot! I do not agree though that they will kiss and make up. Why would ERIC want to start his careee with a huge QUESTION mark at QB? Even if CHAD does come back bigger and stronger, he will still have a weak arm and that limits the type of OFFENSE Eric might want to employ. By the time this team is ready to win consistently, CHAD will be a lot older and still a question mark because of it! I think they want him gone ASAP! Link to comment Share on other sites More sharing options...
Scott Dierking Posted February 18, 2006 Share Posted February 18, 2006 Scott, I have never given CUTLER a thought as leverage for us! GREAT point! My preference in a young QB is OMAR JACOBS but now that you mention it, I constaltly hear CUTLER's name mentioned( for us) a lot! KJ-Omar Jacobs is not a bad choice and one that I would be excited about. If the Mangini apple does not fall short of the coaching tree-Then he is loathe to high first round picks and the money they command. They break teams apart, and you can have multiple choices later in teh first round, for the same money-THAT is how you build a team under their philosophy. UNLESS they truly LOVE Cutler. Great game of poker Link to comment Share on other sites More sharing options...
The Troll Posted February 18, 2006 Share Posted February 18, 2006 Scott, I have never given CUTLER a thought as leverage for us! GREAT point! My preference in a young QB is OMAR JACOBS but now that you mention it, I constaltly hear CUTLER's name mentioned( for us) a lot! I do not agree though that they will kiss and make up. Why would ERIC want to start his careee with a huge QUESTION mark at QB? Even if CHAD does come back bigger and stronger, he will still have a weak arm and that limits the type of OFFENSE Eric might want to employ. By the time this team is ready to win consistently, CHAD will be a lot older and still a question mark because of it! I think they want him gone ASAP! I agree. Mangini seems like a very bright guy. I can't see him staking what he has worked for his entire life on another man's garbage. Link to comment Share on other sites More sharing options...
JediCurt Posted February 18, 2006 Share Posted February 18, 2006 This is all negotiation ploys and drawing lines in the sand. These 2 will kiss and make up. It makes too much sense not to. They will met somewhere halfway on the non-guaranteed money and insert some kind of play incentives. The Jets are very fortunate to have Cutler sitting there as leverage. Its not like Pennington has alot of leverage anyway. He's pocketed what? $22million for playing 18 games? He can't stay on the field and the entire team holds its collective breath with every sack? I say let him go and take the cap hit NOW! Same for all the other Parcells/Bradway legacy contracts too. This is the perfect time to do it. Link to comment Share on other sites More sharing options...
Kentucky Jet Posted February 18, 2006 Author Share Posted February 18, 2006 Its not like Pennington has alot of leverage anyway. He's pocketed what? $22million for playing 18 games? He can't stay on the field and the entire team holds its collective breath with every sack? I say let him go and take the cap hit NOW! Same for all the other Parcells/Bradway legacy contracts too. This is the perfect time to do it. I agree with you! The question facing some JETS fans is: How can they advocate paying CHAD to keep him and build a team around him? He is already 29 and has a weak arm. He is laced with question marks and why saddle a new HC and young team with a guy like that? Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.