Wednesday, March 13, 2013

Antonio Cromartie agrees to restructure contract

The New York Jets were among the teams with the most salary cap issues heading into the offseason.

The cap problems led to the release of veterans Bart Scott, Calvin Pace and Jason Smith and now has led to another veteran having to re-work his contract.

According to Manish Mehta of the New York Daily News, the Jets have restructured the contract of cornerback Antonio Cromartie. Per Mehta, Cromartie’s restructured deal frees up $4.2 million in cap space for this season. The deal reduces Cromartie’s base salary from $7 million to just $840,000 in 2013. He was also due a $2.3 million roster bonus.

The pay off for Cromartie is an $8.5 million signing bonus that will be pro-rated over the next two seasons. While freeing up cap space this year, the signing bonus increases the hit to the Jets cap by an additional $4.2 million in 2014.

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