According to ProFootballTalk.com the New York Jets will be parting ways with receiver Santonio Holmes soon:
Per a league source, the Jets soon will be cutting Holmes, who is due to earn a base salary of $8.25 million in 2014. He has said he’d consider taking a pay cut, but either that wasn’t an option or the two sides couldn’t agree on an acceptable pay rate.
Holmes is set to receive a $1 million roster bonus on March 13, so his release would occur before that date. The receiver has dealt with injuries over the last two unproductive seasons.
The Jets will clear $8.25 million in salary space by releasing Holmes. The receiver stated he would be open to a pay reduction to remain with the team but it seems the Jets are ready to move on from the soon to be 30 year old wideout.