Cromartie Contract Changes Saves Jets $4.25 Million, Garrard $1 Million Salary

According to reports Antonio Cromartie has restructured his contract to allow for 2013 salary cap relief:

Jets restructured Antonio Cromartie's contract, per source. Base salary reduced from $7M to $840K. Also gets around $8.5 SB #nyj

— Manish Mehta (@MMehtaSports) March 13, 2013

Cromartie signed through 2014 and was scheduled to make $9.5 million in 2013.  He allowed the Jets to change base salary into a roster bonus of $8.46 million which Cromartie was paid then the Jets converted the roster bonus into signing bonus prorating, spreading, it over the life of his contract.

His 2013 base salary dropped to $840,000 with a work out bonus of $200,000 so Cromartie still will receive $9.5 million this year while the Jets get $4.23 million in 2013 salary cap relief but Cromartie’s salary cap hit increases $4.23 million in 2014.

Terms of recently signed quarterback David Garrard are being reported at $1 million:

So Cromartie goes from $7 million to $840,000, Holmes from $11 million to $7.5 million and Garrard added at $1million.

— Brian Costello (@BrianCoz) March 13, 2013

The Jets have over $15 million in salary cap space and can get about another $1 million if Tim Tebow is traded or released.

Dennis Agapito

See Full Bio