I don't think this is correct but it's being reported in the NYDailyNews http://www.nydailynews.com/sports/f...ts_to_release_wide_receiver_laveranues-1.html "The Jets are on the hook for the entire salary, which will count against the cap. The cap cost will be defrayed when he lands with another team."
Well, when you add Pennington's 3 and the rest of them it adds up to 6 in total. Now what could we do with another 6 million bucks? A lot.
I don't think it's true either. Not unless it's not true that he requested his release. If he did I can't see any way we owe him a cent.
Heard this on the radio in the car. My response "HIS CONTRACT IS FUCKING GUARANTEED!" Pretty sure the guy in the car next to me heard me. I'm ecstatic, then, that he agreed to the release. $5 million comes off the cap. I don't care if he signs with Miami. Why don't I care if he signs with Miami? They've been talked about as our primary competition for Bart Scott if he doesn't re-sign with Baltimore. They don't have the money to sign both. I hope Scott becomes a FA on Friday and LC signs in Miami. Paves the way for us. We lock up ILB, draft a CB/WR in the first two rounds, and still have money left to secure Brandon Moore. Speaking of Moore, to the posters suggesting we sign him to an extension? He's got 4 years left. Four. We don't need to extend him, we need to either restructure and up the pay slightly to appease him or swallow the bonus this year and enjoy those $1 - 2 million years coming up.
Yeah, Coles agreed to take away the guarenteed money to test himself in the FA. Rich Cimini appears to not have gotten the memo
Apparently yes because Coles is willing to let that money go to find a long term deal with someone else.
From Boland Blog on Newsday... The Jets released Laveranues Coles, who is entering the final year of his contract and was looking for a long-term contract extension, this afternoon. Coles confirmed the move in an interview with Dave Hutchinson of the Star Ledger. "We didn't leave on bad terms,'' Coles told the paper. "It's not out of the question that I could come back." That is probably unlikely. Coles had the final two years of his contract - worth $11 million - guaranteed prior to last season, meaning the $6 million he is due this year will still count against the Jets cap. The Jets might not be responsible for all of that depending on what kind of deal Coles strikes elsewhere. Coles, just like last offseason, was looking for an extension from the Jets and the team wasn't interested, prompting the move. The move leaves the Jets woefully lacking at receiver as free agency begins at 12:01 a.m. Friday. Coles, though not the deep threat the Jets needed, still had a relatively productive 2008 with 70 receptions for 850 yards and seven touchdowns. T.J. Houshmandzadeh, anyone? The Jets will need to find somebody, either in free agency or the draft. Or both.
He asked to be released. Nothing was guaranteed after that. http://www.nj.com/jets/index.ssf/2009/02/new_york_jets_release_wide_rec.html
Its pointless. He will land with a team. At the least, Seahawks will sign him. And if he doesn't get picked up, in which case Jets will be stuck with the $7mil, we would be pretty dumb not to pick him up again. Anyways Im glad he's gone. He was a good WR, but not worth $7mil. I would pay an extra mil or two for Boldin any time...I hope we can get Boldin on a 5 yr $45 mil with $20+ guaranteed. Totally worth it. Keep in mind, Chad is counting about $3mil in dead money against our cap this yr. He won't next yr.
