News: Faneca Release Official

Adam Schefter breaks the news on twitter that the Jets have already released G Alan Faneca.

It’s being reported that the Jets are going to have to pay him $5.25m, but will save $7.5m by cutting him. However, the Jets often have a mechanism in their contracts whereby the money owed to him is defrayed by anything a new team pays him, so the overall cash saving may prove to be more than $2.25m. Laveranues Coles had such a clause in his contract, for example.

This move is unlikely to have saved them any cap space in 2011, compared with if they had waited until next year to cut him.

Best of luck to Alan for the future.