Tannenbaum is no longer employed by the Jets. Idzik is a skilled negotiator. Not a miracle worker. Restructured deal? Extending it. No fucking way.
I don't think it's going to be extended at all. I think Idzik will go to their camp and say "Holmes can play for the Jets for 8 (or 8.5 or 9 or some number lower than 11) mil or someone else for 7.5."
They are going to ask him to take a cut. The offset in this contract is really important. The Jets have a little leverage
Yeah I did, I forgot about that clause. They have to deal with Holmes, he could easily decline or ignore any restructuring, but let's see what happens. Let's see if he's a true team player. I'm just interested to see how he responds to it overall
Holmes dead money if cut is $11.25 million. His salary if cut is $7.5 million. Any amount of money that he receives from another team below $7.5 million would come back to the Jets under the offset provisions and would be removed from the 2013 cap. So if Holmes is cut they take an immediate cap hit of $11.25 million, saving $1.25 million over the $12.5 million hit he has if kept on the roster for 2013. They have to pay Holmes $7.5 million in salary guaranteed to him for 2013. If the Giants sign Holmes to a contract that includes $1 million in in 2013 that money comes back to the Jets and they get to add $1 million back to their 2013 cap. That would make the cost of cutting Holmes $10.25 million on the 2013 cap. There's definitely room to negotiate with Holmes for a reduction however the teeth in that renegotiation all depend on Holmes being healthy enough to play for another team in 2013 and that's looking like an increasingly iffy proposition at this point. Lis franc injuries suck.
Don't forget about the june 1 rule. If we cut him pre June 1, and designate him a post June 1 player, his dead money in 2014 stays in 2014. If we cut him after June 1, same thing. Making your scenario 7.75 Million in 2013, 2.5 Million in 2014. Cap Savings in 2013 4.75 Million.
http://www.nj.com/jets/index.ssf/2012/12/santonio_holmes_to_have_second.html Holmes had a plate inserted in his foot to repair and stabilize a fracture. You have to wonder whether twinkle toes is going to be an option next year. If he loses a step he's really not going to be worth a lot.
Since the IRS walks away with 42% of his pay, Tone may get a call from Obama asking him NOT to take a pay cut for the sake of the country!
I just don't see why he would take a pay cut under any circumstance. He's a douchebag. Locker room cancer. Me me me guy. He all of a sudden plays 'team player' card? What for? I don't even think he will be back to his usual self-proclaimed 'Playmaker' of old. He is at best worthless. He is a douchebag that cannot produce.
I apologize if this has been answered before or a stupid question, but if this is the case that the Jets would have to pay the remainder of 7.5mil guaranteed money of contract if Holmes signs deal with Giants. Is this just to Holmes not being allowed to "double dip" or is this a general rule? I see it that if we cut Holmes and Giants sign him, than they would offer minimum $$$ because the Jets have to pay the difference.What would the cap hit be for the Giants? The money they pay Holmes(1mil) or the total money guaranteed even tho the gets would pay off the 6.5 mil? Seems like a great deal to the signing team if you get a good player while another team has to pay for him with taking a minimal cap hit. Thanks.
Holmes doesn't strike me as being the kind of guy that would be receptive to this. If Idzik is able to take Holmes off the books and save more then half of what he counts against the cap, call that a job well done.
I would be beyond shocked if Holmes restructured ! I would love to be a fly on the wall when that on versatile goes down :lol:
Holmes will force the Jets' hand, refuse to restructure his contract, the Jets will cut him, and he'll collect his 7.5 million while he spends the year rehabbing his foot injury in order to hit free agency a year later.
