Thursday, February 20, 2014
New York Jets have money to burn
By Rich Cimini
INDIANAPOLIS -- Turns out the New York Jets will have even more salary-cap room than expected.
The NFL is expected to raise the salary cap to about $130 million, ESPN Insider Adam Schefter reported Thursday -- about $4 million higher than projected. The cap was $123 million last year.
Nothing is official yet, but it looks like the additional $4 million will give the Jets about $24 million in cap space. That would be enough to re-sign potential free agents (right tackle Austin Howard, kicker Nick Folk and tight end Jeff Cumberland are the top priorities) and be active in the free-agent market.
Obviously, they will gain more flexibility when they start dumping veterans. They would create an additional $26 million by releasing Santonio Holmes, Mark Sanchez and Antonio Cromartie.
The Jets are being applauded in some circles for having only $48,958 in "dead" money on this year's cap, one of the lowest totals in the league, but that figure is deceiving. If they cut the aforementioned three veterans, they'd get hit with $12.8 million in dead money, barring June 1 designations.