According to reports Antonio Cromartie has restructured his contract to allow for 2013 salary cap relief:
Jets restructured Antonio Cromartie's contract, per source. Base salary reduced from $7M to $840K. Also gets around $8.5 SB #nyj
— Manish Mehta (@MMehtaSports) March 13, 2013
Cromartie signed through 2014 and was scheduled to make $9.5 million in 2013. He allowed the Jets to change base salary into a roster bonus of $8.46 million which Cromartie was paid then the Jets converted the roster bonus into signing bonus prorating, spreading, it over the life of his contract.
His 2013 base salary dropped to $840,000 with a work out bonus of $200,000 so Cromartie still will receive $9.5 million this year while the Jets get $4.23 million in 2013 salary cap relief but Cromartie’s salary cap hit increases $4.23 million in 2014.
Terms of recently signed quarterback David Garrard are being reported at $1 million:
So Cromartie goes from $7 million to $840,000, Holmes from $11 million to $7.5 million and Garrard added at $1million.
— Brian Costello (@BrianCoz) March 13, 2013
The Jets have over $15 million in salary cap space and can get about another $1 million if Tim Tebow is traded or released.
