Here’s a follow up to a recent article about the 2012 salary cap, and where the Jets stand compared to their AFC east counterparts. Jets’ tackle D’Brickashaw Ferguson has agreed to restructure his contract to provide the team with some much needed salary cap relief. Ferguson lowered his 2012 guaranteed base salary ($9 million) and had it converted into signing bonus, which changes nothing for him financially. Since the current collective bargaining agreement only allows signing bonuses to be prorated over five years this change will create $7.2 million in 2012 cap relief.
The $9 million bonus will count $1.8 million under the salary cap each of the following years: 2012, 13,1 4,15, and 16. The only negative is the Jets will lose flexibility to cut Ferguson in 2014/15 if he were to get injured or become less productive. As long as he continues to play at a Pro Bowl level the next few years this move will not hurt the team.
Here are updated salary cap figures for the AFC East:
- Jets – $7.7 million under.
- Dolphins – $11.9 million under.
- Bills – $36 million under.
- Patriots – $22-24 million under.
The Jets are planning to give restricted free agent linebacker Aaron Maybin a first round tender, about $1.2 million. This offer will count against the 2012 salary cap when it is made, so the Jets will have $6.8 million in free space at that time. There are still lots of moves General Manager Mike Tannenbaum will have to make to create cap space.
Here are some cost cutting ideas are laid out in a previous article.