No. If we trade Holmes, we owe the rest of his 2012 Salary minus the minimun vet salary. So Tanny would have to pay the difference, about 7 + million.
That seems strange to me that the contract would be worded that way. So basically we'll owe that or around that whether he's on the team, cut, or traded? Am I the only one that thinks that's ludicrous? Or I could still be misunderstanding it.
I was just going by who the Sporting news draft had available when the Jets picked at 16 in their mock. Decastro went the pick before the Jet's so he was off the list, I Didn't think about Jefferey but he wasn't drafted at that point. Same with Mercilus.
ROUND 1 OG Decastro / Upshaw OLB (they will be gone) Whitney Mercilus DE is the next best that fills a need ROUND 2 Kelechi Osemele OG ROUND 3 Marvin Mcnutt WR / Lavonte Davis OLB/SS (IF possible i say we draft up and get both these guys) That gives us top talent ON (DL OL WR SS)
I'm pretty sure but not 100% that if we trade him we would only owe him the guaranteed money for the 2012 season and whatever team we trade him to would pick up the rest of his contract since the rest of the money for 2012 is game check based. Again if I'm wrong please correct me as I'm not 100% on this. Edit: We also don't know the complete terms of the contract and probably never will so we don't know about any clauses or anything of that nature.
I believe I made that point. The Jet's would owe the guarantee money about 7 + Million. The team that picks him up pays the min vet salary, Jets are on the hook for the rest.
7.75 Mill!!!!! The Jets Options With Santonio Holmes http://nyjetscap.com/2011_Post/toneholmescut.php 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.
Why the fuck are we guaranteeing this asshole 7m+ for the season? Please don't tell me Tanny is that senile, I swear its like our staff thinks their fucking Dr. Phils and they can change all non-character guys. Fuck Holmes, but to stay on topic we need to draft a star pass rusher with our first pick as much as people want a lineman, this defense is a double digit sacker away from being top 3.
Yep, the whole salary for next year is guaranteed. And if he's on the team Feb. 8, an extra 5 or so million for 2013 is guaranteed too, so to trade him they'd have to convince a team to take 13 mil for a royal pain in the ass.
Holmes wasa model citizen in 2010. Why? He knew his contract was up. Steelers are succesful cause they know when to shit can a player. If Holmes is still on our Roster by mid Feb..the Jet's are really screwed, they're are are only partially screwed now.
If we can get a 3rd for him, I think its a no brainer. This guy just pisses me off; he has all the talent in the world, but acts like a 10 year old. If the Jets want to send a message of how they want to run things after this season, this would be the way to do it. Yeah he's a game changer, and probably the only one we have on offense, but he is a plague in the locker room. If by some miracle a team would give us a 3rd rounder, we draft two WR's, sign a vet (Edwards?) and develop Kerley.
Honestly I'll take the hit to get rid of this cancer, as much as players are opening up about just how bad of a teammate he is I can't see the locker room being together next season with this clown still here. Kerley can replace him hopefully or were going to have to start drafting right like the Steelers.
We cant trade a player til the new year begins in March, so him not being on the team in Feb would mean us cutting him and taking the huge 12 mil cap hit... Why wouldnt you rather trade him even if its for a 7th and only take the 5 mil cap hit? Edit: Nvm, didnt see the extra 5 mil thats added on in feb
