A few weeks ago Jets wide receiver Santonio Holmes seemed willing to restructure his contract if the added cap money could improve his woeful team, now is the time when the rubber meets the road. Rich Cimini of espnnewyork.com is reporting that the Jets are insisting Holmes take a pay cut because the team needs the cap space. Holmes is guaranteed $7.5 million whether he's on the team or not, but there's language in his contract that prevents him from exceeding $7.5 million if he's released. In other words, if he signs elsewhere for $3 million in 2013, the Jets are on the hook for only $4.5 million. He can't "double dip." Agreeing to the restructuring is definitely in Holmes' best interest if he is offered more than the $7.5 million in base salary for 2013 and there is no doubt the Jets need Holmes-he is by far their best and only deep receiving threat despite coming off foot surgery, but what if Holmes decides he would rather make a little less and play for a contender? Source: The Redzone
So can he go to a team and sign for "$1.00" and the Jets pay the balance? Lol... Hell of a deal if a team can get Holmes for the veteran minimum...which I imagine would be the lowest a team could sign him for...
