Listening to Mike & Mike this morning on the way to work, and during his "Inside the Huddle" report on the show, John Clayton said that there has been no movement between the Jets and Pennington's agent so it looks like the Jets will cut Pennington before the March 3 bonus of $3-million. The Jets want to cut Pennington from a base of $9-million down to $1-million with incentives, and Tom Condon representing Pennington has refused to budge. Although it would seem best for both sides to come to an arrangement here, Condon seems to want no part of it. If Pennington is to remain a NY Jet, he would have to change agents in a hurry. Short term the Jets save $3-million on the cap, but the long term effect is a $12-million hit for the 2006 season. Temporarily this would help the Jets, possibly to sign and trade John Abraham. However, after the fact it impacts the Jets negatively to the tune of $3-million in 2006, versus $6-million each in 2006 and 2007.
All the reports said that both parties were planning to sit down during the combine this week and see if they can find a solution.
Pennington will be cut... IF HE DOESN'T take ANY pay cut. If he stands tall and says, NOPE, no cut at all, then he's gone. However, if they meet close to 1/2 way... closer to the Jets side, he'll be here.
Pay him the 3 million dollar roster bonus and one million plus incentives. That shaves 5 million off this years cap and three million off next years dead money if he doesn't make it back.
It doesn't shave a dime off next year's dead money. It will save 5M off this year's cap, MAYBE. There are some provisions in the CBA for the year before the uncapped year which may make some incentives payable THIS YEAR on the cap regardless if they are met.
They have quite a bit of time to restart negotiations. I'm not saying he's sure to stay, but alot can happen this week. If he wants to play elsewhere for less money then fine by me. His agent should know nobody is willing to give him more then we are. . .
Is there any sort of cut and then re-sign option? Is that allowed and could it possibly make sense for both parties? JetsIn2004? I'm not equiped to answer my own question but I thought I'd throw it out there.
No.. The second he's cut, the 12M is on our cap. For example, Testaverde was signed last yr and he counted for his 2005 salary, and for the 2nd half of being cut after June 1, 2004.
Just cut him the 2006 season is going to be a rebuilding year so they might as well remove the dead weight from the team so they can properly evalute the team for the 2007 FA and draft.
no one knows what will happen the two sides haven't even talked yet -- if chad's agent has any brains he knows he will no tget more than a million bucks to play anywhere in this league -- take as much as you can get with incentives an dhope your client can regain some of the form that got him that $64 mil contract
This really had me confused... until I looked at the date of the original post! Nice April Fool's FITM! It isn't even made up!
I was wondering why John Abraham was mentioned here. Now that i see the date of the original post it all makes sense. There is going to be a lot of these today isnt there???
