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Jets want Santonio Holmes to restructure contract, according to report

The New York Jets want to restructure wide receiver Santonio Holmes' contract, just a week after clearing more than $30 million of cap relief.

Ronald Martinez

Even though the New York Jets parted ways with Calvin Pace, Bart Scott, Eric Smith, Josh Baker and Jason Smith last week, the team still finds itself in salary cap trouble. According to ESPN's Adam Schefter, the Jets want Santonio Holmes to restructure his contract, to give the Jets more cap flexibility leading up to free agency and the 2013 NFL Draft.

If Holmes doesn't restructure his deal and isn't released, the wide receiver will make $11.25 million in 2013. Holmes signed a five-year, $45.25 million contract in 2011, with $24 million of the contract guaranteed. Holmes is guaranteed $7.5 million in 2013 alone.

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Per Schefter, the Jets have some leverage in restructure talks. Holmes' salary for 2013 is $7.5 million -- even if he's cut and signs with another team. If another team paid Holmes less than $7.5 million, the Jets would pay the difference in the salary.

Holmes had his least-productive year as a professional in 2012. Marred by a Lisfranc injury that held the wide receiver to just four games, Holmes caught 20 passes for 272 yards and a touchdown. In three seasons with New York, Holmes has 123 receptions for 1,672 yards and 15 touchdowns in 32 games.

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