According to Manish Mehta per Twitter, he has learned that the Jets have restructured D’Brickashaw Ferguson’s contract. Very good news. This gives the Jets a ton of wiggle room now to go after free agents and/or gets them ready to possibly make a splash in the draft. They currently have the 16th pick overall, but may move up to get a guy they possibly love and know won’t drop. Time will tell, but this was a great gesture by one of the leaders of the team. I wonder if other players will step up to do the same.
TheJetsStream#Jets restructure Pro Bowl left tackle D’Brickashaw Ferguson’s contract, per source. Story here: http://t.co/SyonguPQ #nfl2/23/12 4:55 AM
The Jets converted $9 million of Ferguson’s $9.985 million base salary in 2012 to a signing bonus to give the team more cap space, according to a source.
The cap value of the converted signing bonus will be spread over the remaining six years of Ferguson’s contract. So, the Jets will get an additional $7.5 million of cap relief this season. Gang Green had very little cap flexibility before the move.