The New York Jets have a few key free agents they'd like to keep, namely nose tackle Sione Pouha, but the Jets are tight against the salary cap. Thankfully, left tackle D'Brickashaw Ferguson has agree to restructure his contract to free up some 2012 cap space, according to a report by the New York Daily News.
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.
Ferguson signed a huge eight-year, $73.6 million contract extension prior to the 2010 season. With the restructure, it will push some of that salary to the back end of the contract and give the Jets a bit more flexibility to spend in the 2012 offseason.
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