Wednesday, March 13, 2013
Cro reworks deal, not going anywhere
By Rich Cimini
For those clinging to the hope the Jets would trade CB Antonio Cromartie and use the money to re-sign Darrelle Revis ... well, you can forget about that.
Cromartie is untradable now because he restructured his contract, according to NFLPA records posted Tuesday night. He was a prime candidate because of a $2.3 million roster bonus due Wednesday.
It appears he didn't lose any money in the restructuring. He was due to make a $7 million base salary plus the roster bonus, a total of $9.3 million. His base pay dropped to $840,000, the roster bonus was eliminated and he will receive the difference in the form of an $8.5 million signing bonus that will be pro-rated over the next two years. It drops his cap charge to $6.25 million, a savings of about $4.2 million.
There's a down side to this credit-card approach; it inflates Cromartie's 2014 cap number to $15 million, including a $5 million roster bonus. It'll force the two sides to the bargaining table because there's little chance of them doling out that kind of bonus in the final year of a contract.
Holmes apparently took a straight pay cut, although it's possible he can recoup some money with incentives. His base salary was reduced from $11 million to $7.5 million, the amount that was guaranteed in the original contract. Basically, his non-guaranteed salary ($3.5 million) was slashed.
By adjusting the Holmes and Cromartie contracts, the Jets created about $7.7 million in cap space. This puts them about $16 million under the cap. C Nick Mangold is due a $3 million roster bonus Wednesday, but his contract remains untouched. Revis is due a $1 million roster bonus on Saturday.
In case you're wondering, David Garrard's contract is one year for a total of $1.1 million.