The Jets wanted to carry only two quarterbacks on the 53-man roster, so they took a calculated risk by exposing Simms to waivers. The coaches talked with Simms on Saturday, assuring him they wanted him back. Just last week, quarterbacks coach David Lee told reporters that Simms had improved as much as any player he's ever coached.
This is a smart move by the Jets. Even though Simms doesn't factor into the short-term plans, he could be a possible No. 2 in 2015, when Michael Vick is gone.
Under the old rules, Simms wouldn't have been eligible for the practice squad, but the rules were changed recently, allowing players of Simms' standing (one accrued season) to be eligible.