In case you haven’t noticed, Jason over at NYJetsCap.com just launched a new site which is most dope for the cap fiend deep inside all of us. The name of his new venture? OverTheCap.com which we are guessing is kind of an inside joke about all the impotent hand-wringing that takes place each January and February among the John Claytons of the world.
Regardless, Jason found a fascinating tie-in between Santonio Holmes contract and how Mike Vick’s newly restructured deal might give the Jets an entry point to do the same with Tone.
The similarities between Vick and Holmes are pretty striking. While Holmes’ guarantee is higher the Jets would create cap room with a release. Both have offsets in their contract meaning they were pretty much capped out on salary they could earn. In Holmes’ case it is his $7.5 million guarantee and in Vicks was likely between $5 and $6 million which we will know is the case if that turns out to be the base value of Vick’s one year deal. Both are coming off injury making incentivizing a contract simple. Both have years remaining on their deals. Vick was willing to void his. Holmes could easily do the same. With only $2.5 million in dead money on the books in 2014 for Holmes the Jets can give him a low bonus if they wanted to and likely match the same structure that Vick is using where his final two years void next March. That was strictly done for proration purposes- both to lower cap charges now and to protect from acceleration of old prorated money. Really the only glaring difference is age. Holmes is younger but plays a far less important position.
Now Im sure some are still saying that I’m crazy and Vick took a bad deal and it was just one wacky occurrence. Except I just want to point out one last similarity. Vick is represented by Joel Segal. Why is that important? That is the same agent that represents Holmes. So the Jets now have a real framework to approach Holmes. Same situation. Same agent. Same contract structure. So no it doesn’t affect Mark Sanchez one bit but it could be a powerful message about what is to come for one of the other cap constraining contracts on the team.
Brian Bassett, theJetsBlog.com
Nice work, Jason … here’s about all the analysis we can add to your cap necromancy.