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.