New York Daily News - http://www.nydailynews.com Jets may sack QB Chad today BY RICH CIMINI Thursday, March 2nd, 2006 The Jets' tumultuous offseason already has claimed the coach and general manager. Today, we'll find out if the quarterback goes, too. After months of speculation and a week of negotiations that may continue up until today's deadline, Chad Pennington's contract situation finally will be resolved. If he doesn't agree to a pay cut - as of last night, it was too uncertain to call - he will be released, a move that would dramatically alter the direction of the franchise. The Jets' new regime is in a housecleaning mode (seven players were cut last week), and the overhaul could claim more bodies today, including Kevin Mawae. His agent, Mark Bartelstein, said he was informed yesterday by GM Mike Tannenbaum that the club likely will part ways with the six-time Pro Bowl center. Technically, the Jets don't have to make any cuts to get under the $94.5 million salary cap by tomorrow's deadline. Quietly, they got under the cap by restructuring contracts, including those of Laveranues Coles and Shaun Ellis, it was learned. Mawae's situation apparently goes beyond money. At 35, recovering from a torn triceps, he doesn't fit into new coach Eric Mangini's rebuilding plan. Mawae was given permission recently to seek a trade, and he took that as a sign that he's no longer wanted. The Jets want Pennington, but it has to be on their terms. He's scheduled to make $9 million, including a $3 million roster bonus due tomorrow. The Jets, concerned about his twice-repaired throwing shoulder, don't want to pay the bonus. On Tuesday, Pennington said he wanted to remain with the Jets, expressing optimism the two sides could find a "middle ground." Initially, the Jets wanted to slash his salary to $1 million, a jarring proposal that left some in the Pennington camp thinking the Jets were hellbent on cutting the 29-year-old quarterback. But last weekend, in a meeting with Pennington's agent, Tom Condon, Tannenbaum sweetened the offer. The negotiations "took a few steps forward," according to Pennington. But, as of yesterday, some industry sources still felt Pennington's return wasn't a slam dunk. Privately, the Jets say they're prepared to start over at quarterback. It would be a surprise if they give Pennington more than $3 million in guarantees in a reworked contract. Pennington, coming off two shoulder operations in an eight-month span, isn't likely to generate much interest on the open market. If the Jets cut Pennington, they would take a $12 million cap hit, but they would realize a net savings of $3 million. A possible landing spot would be Kansas City, where he'd be reunited with former Jets coach Herm Edwards. The Jets will save $1.1 million by releasing Mawae, one of the best players in team history. The Eagles, who have plenty of cap room, are planning to pursue him. "Nothing is official, but I got a sense from talking to (the Jets) that Kevin will be a free agent," Bartelstein said. "I think they've made the decision to retool and start over." Others on the bubble are Pete Kendall ($5.2 million cap number), David Barrett ($3.8 million) and Eric Barton ($3.8 million), each of whom is due a large roster bonus tomorrow.
Privately, the Jets say they're prepared to start over at quarterback. It would be a surprise if they give Pennington more than $3 million in guarantees in a reworked contract. Pennington, coming off two shoulder operations in an eight-month span, isn't likely to generate much interest on the open market. Sounds like qb may be our 1st priority
Others on the bubble are Pete Kendall ($5.2 million cap number), David Barrett ($3.8 million) and Eric Barton ($3.8 million), each of whom is due a large roster bonus tomorrow. now i dont mind cutting barrett cause i think he sucks big time but barton being cut would suck he is a good player
Penny's from heaven Jets sweetened the deal ---but penny wants more pennies my fan favorite is quickly removing his status he is gambling on someone else taking a chance on him --prob KC Mawae and kendall keep the QB on his feet The turk comes a calling today with the jets UNDER the cap look for the jets to retool by getting lots of UFA starting Friday Tis a puzzlement trying to see where this team is headed
That Mike T is a sneaky fuck...LOL Screw Chad Pennington.Curtis Martin approached the Jets about taking a cut and it was done in a matter of days The deadline is tonight and Pennington's agent Tom Condon is still playing games The Jets should just cut Pennington and have $12 million bucks count against cap instead begging him to take less money His shoulder is shot.He had no arm strength before the two shoulder surgeries.He can't play anymore
im just happy that all there focus is on the team and not talking to media(like some other guys would be by now)
That's great news that Coles and Ellis restructured. They understand what it takes to get this franchise back into a position to win football games.
Didn't Ellis restructure his contract last year too? If he did restructure two years in a row, then major props to him. And if he didn't, well then I'm a stupid ass.
If he did restructure last year, it had to be before 3/1. You aren't allowed to restructure, and accept a signing bonus, 2 yrs in a row I believe. I do remember him restructuring though as I have him noted with 2 signing bonuses.. one when he signed the deal, and another that he received due to the restructure. The potential savings from a restructure of Ellis and Coles are 6.75M from Coles (if you turned all 7M of his roster bonus and 2M of salary into signing bonus) and 4.39M for Ellis (same roster/salary into signing bonus). That's 11.14 right there, which would put us close to under. I'm sure we didn't do that exactly, so we probably did not save as much as that. I'd love to find out the details. When I get them I'll let you know
Now, are the Jets under the cap WITH or WITHOUT john abrahams franchise cap figure factored in? In other words, if John decided to sign today, would that throw the Jets back over the cap?
I believe they have to count the franchise cash because it's guaranteed once he signs the deal, but I am not 100% sure on that to tell you the truth. 95% of what I read says it has to count starting tomorrow, but 5% says no.. so it's confusing. Right now, I have the Jets 15M over, but of course I do not know the details of the restructures. With that in mind, i'm thinking it does nout count Abraham.
Indeed :wink: Man that's really relieving guys.... I still hope Chad takes a little less money and that we trade JA for some draft picks!
