According to various sources, WR/KR Brad Smith, who played an essential role in the Jets' wildcat offense, is going to sign a contract with the Buffalo Bills. The Jets did make a late offer to Smith, but the Bills reportedly offered more in guaranteed money.
UPDATE: Brad Smith's move to Buffalo is now official. It's a 4-year deal worth $15M.
ESPN reports that the Jets are still pretty much in the hunt for thr services of CB Nnamdi Asomugha of the Oakland Raiders. Earlier today we reported that the Texans were in the lead, offering a deal that would average about $12-14M a year. It's highly unlikely that the Jets can match or top that, but Asomugha might be tempted to line up alongside of CB Darrelle Revis, forming the best duo of cornerbacks in the NFL.
The Jets will re-work RB LaDainian Tomlinson's contract to create more salary cap room. He'll have a salary reduction in 2011, the final year of his 2-year deal.