The Jets Options With Santonio Holmes

Discussion in 'New York Jets' started by Mambo9, Jan 2, 2012.

  1. Mambo9

    Mambo9 Well-Known Member

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    Once again a GREAT analysis by the best Jets contract guru on the web.
    http://nyjetscap.com/2011_Post/toneholmescut.php


    The Jets Options With Santonio Holmes

    Everyone knows what happened with Santonio Holmes against the Miami Dolphins. He has been rumored to be a problem all season long and now it is at the point where the Jets may have to consider moving on from Holmes just 1 year into his $45 million dollar contract with $24 million in guarantees that he signed last year. The question of course is can they do it?

    His cap charge for 2012 is $9.25 million. The lowest cap charge that the Jets could take for Holmes in 2012 is $5 million if he is cut. That is the amount remaining of his prorated signing bonus. However, Holmes has $7.75 million in fully guaranteed salary for the 2012 NFL season. If the Jets cut him all of that guarantee accelerates onto the cap, making the charge to cut him jump to $12.75 million. That would make the Jets $3.5 million worse in terms of cap space than if he remained on the team.

    Based on information from a league source Holmes’ contract does contain offset provisions. What this means is that the Jets receive a credit for money paid to Holmes by another team in the event Holmes is cut. It would be likely that Holmes would obtain at least $7.75 million as a free agent next year. But the time that it takes for another team to sign Holmes is time the Jets will be forced to sit and wait with the huge cap charge on the books limiting their possibilities in free agency and leeway with the cap. This was something most fans were familiar with when Alan Faneca was released. His contract did not contain this offset, allowing him to “double dip” and earn salary both from the Jets and Arizona Cardinals in 2009.

    But there is another huge factor in play here that will force the Jets hand into an early decision. Holmes has another $7.5 million in guarantees that he can unlock in his contract by being on the roster in early February. I dont know the exact date, but it should be the second week of the month. That means if they cut him after that date the dead cap charge grows from $12.75 to $20.25 million in 2012. That is a large amount of money that a team would have to pay him to offset the salary owed to him by the Jets. It would cripple the team.

    So it’s a huge gamble either way. Holmes cap charge is $12.5 million in 2013. If he is cut that year his dead cap would be $12 million with the Jets having to hope another team is willing to pay him at least $7.75 million. There are some other ways they can minimize the charges that year by making him a June 1st cut and paying dead cap charges in 2014 as well as 2013, so there is more flexibility, but if Holmes spends 2012 sulking and catching 50 passes for 600 yards his value will plummet and he may not even make the full $7.75 million offset the Jets need to minimize the dead money charges, not to mention cash payouts they owe him.

    The Jets best bet is probably to look at the teams that were interested in him last season as a free agent and see if they can trade him. I doubt he would get more than a conditional 3rd round pick, but much like the Kerry Rhodes move this is addition by subtraction. All the guarantees transfer with the contract when he is traded. They can make that move at any point during the year and just have that $5 million in dead cap money with no threat of future payments to him. A $5 million cap charge creates an additional $4.25 million in cap room for the Jets to play with in 2012, a pretty nice chunk of change. They could even wait until after June to make the move leaving the Jets with only $1.5 million in dead cap in 2012 and $3.75 million in dead cap in 2013, when the cap figures to be higher anyway. Under that scenario they have an extra $7.75 million in cap room, but it would not help them in free agency in 2012 due to the timing of it.

    So there are a lot of factors in play here and the Jets definitely have a big decision to make, and only a few weeks to decide the course of action they intend to take. But if they can trade him it’s a pretty shrewd move for the team. It would mean that the Jets took a 1 year $8.25 million gamble on a player that didn’t pay off. Most are just going to focus on the $45 and $24 million as a sign of a bad deal, but it’s the structures of these deals that tell the real story and the Jets did this one to at least give them an opportunity to escape in the event something like this happened. Hopefully they escape it.
     
  2. Jets42long

    Jets42long Member

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    All those numbers make my head spin, but it seems to me like we have to hold onto him. Over 8 M for one very mediocre season? We knew who he was when we signed him. Hopefully we can get a true #1 wr next year and Holmes can flourish in his proper role.
     
  3. DemoIsland

    DemoIsland Member

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    Excellent read.

    I honestly do not know where I stand on this Holmes situation. We have so many holes to fill.
     
  4. The Notorious J.E.T.S

    The Notorious J.E.T.S Well-Known Member

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    The Jets and Holmes need to kiss and make up...simple as that. People got emotional and did things I'm sure they regret. Holmes is too good to release or trade for crap. Forgive and Forget I say...then again, I'm a winner.
     
  5. Fatman&Robin

    Fatman&Robin Member

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    Encouraging as encouraging can be in this situation (which is little).

    Need to get rid of him. I don't care if that leaves us with barebones in the WR dept., judging by Slauson and Tomlinson's comments last night it needs to be done. Rex can not lose this team, and if Holmes is really that bad and creating division in the locker room, Tanny and Rex have to make a statement.

    What a colossal fuck up by the two.
     
  6. Mambo9

    Mambo9 Well-Known Member

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    I think once we get a decent OC who has some balls the situation will sort itself out.
     
  7. mj2sexay

    mj2sexay Active Member

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    No they don't. I find it amazing you've been killing Sanchez and you'll support a return to the team for this POS. If you're a winner you know the number 1 rule of winning, NEVER GIVE UP. Unless he makes a very public apology (won't hold my breath) he can GTFO.
     
  8. Wolfe Tone

    Wolfe Tone New Member

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    This is better than releasing him, he needs to be gone, with situations like this is it is never going to be mended for the long term and having to walk on glass around him all the time will not be sustainable. I would trade him for futures just to get him out the door. we need some strong leaders within the team that can redevelop chemistry. Thomas Jones would have given him a beat down last night.

    I am glad the rest of the offense stepped up and let him know he was being a shithead. Too bad Sanchez does not command enough respect to keep a grip on the huddle, or Holmes is that big of a knob.

    Being a dick is one thing, but quitting and pouting is a whole new level of idiocy
     
  9. ScotsJet

    ScotsJet Active Member

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    Am I mistaken, or are we not able to designate a pre-June transaction as a post-June transaction in any given year?
     
  10. Jetsetter

    Jetsetter Active Member

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    If the Jets show other teams they need to unload Holmes (which everyone now knows), don't expect much in return. He's difficult to unload at his salary and the Jets would be forced to take the best sub-par value deal for him. I don't see how the Jets can keep him after yesterday. "CAPTAIN"... what a joke...
     
  11. alleycat9

    alleycat9 Well-Known Member

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    i say cut him no matter the cost. this information which i thank whoever wrote it for just makes it more interesting in the way we rid ourselves of this piece of crap.
     
  12. ScotsJet

    ScotsJet Active Member

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    My reading of that is that trading him is entirely viable, if we can find someone to take him.
     
  13. Br4d

    Br4d 2018 Weeb Ewbank Award

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    The question is: do the Jets have cap space on the team for a legitimate #1 receiver, allowing Holmes to play the game-breaking complimentary role?

    If they do and are planning to get a #1 then Holmes could still be a major asset. If they don't then he's always going to be miscast in the offense and his productivity will decline.

    I'm pretty sure this is why the Steelers ultimately let him go cheap. The distractions he created were real but Hines Ward was turning from a #1 into a #2 and they didn't want to go with 2 #2 receivers.
     
    #13 Br4d, Jan 2, 2012
    Last edited: Jan 2, 2012
  14. OverloadBlitz

    OverloadBlitz Well-Known Member

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    I said this yesterday pretty much, if we want to get rid of him the best option is trading him so we take the least amount of a cap hit.
     
  15. Joe Willie White Shoes

    Joe Willie White Shoes Well-Known Member

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    I would keep him and fix the offense. Schotty, a lack of speed/explosive playmakers, and the crappy play of the OL are at the root of all of the team's problems
     
  16. Rex's Sweater Vest

    Rex's Sweater Vest Active Member

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    [​IMG]
     
  17. BleednGreen

    BleednGreen Member

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    Should've cut his ass on the field

    Trade him to Dallas for 3 first rounders
     
  18. Bill Belichdouche

    Bill Belichdouche Well-Known Member

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    just get rid of this scumbag

    I don't care what it takes.
     
  19. TheGreenCantona

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    That is just off, criticize schotty for routes or plays or whatever but he is the only one at the jets that have shown any balls towards this lowlife piece of ...
    Rex just claims not to have seen anything and will most certainly get rid of Moore and schotty instead, true balls and conviction, sure
     
  20. ukjetsfan

    ukjetsfan Well-Known Member

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    Trade him for whatever we can get. A conditional third-rounder would be a dream.

    There is no way he can stay after the way he behaved yesterday and, apparently, for several weeks now and possibly throughout the season. What he did was a giant FU to Ryan and the Jets. They need to reply in kind.
     

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