Jets restructure contract of WR Holmes
The New York Jets have restructured the contract of injured wide
receiver Santonio Holmes, creating additional salary cap room.
Holmes, coming off a serious foot injury, was due to make $11
million in base salary, with $7.5 million guaranteed. Details of
the restructuring, first reported by ESPN on Tuesday, weren’t
Holmes, who signed a five-year, $45 million contract in 2011,
would have cost the Jets an $11.25 million cap hit if he had been
released. But Holmes agreed to restructure his deal to help the
Jets add some cap room.
He injured the middle of his foot in Week 4, and missed the rest
of the season. New offensive coordinator Marty Mornhinweg said
Monday that Holmes is expected to be healthy by training camp.