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Yes, the Jets and receiver Davante Adams have restructured his contract. No, it doesn’t do anything to reduce the massive cash and cap charge that kicks in next year.
Per a league source, the restructuring relates to the conversion of the remainder of his 2024 base salary into a signing bonus, for cap purposes. He was due to make $16.89 million this year. With six of 18 weeks gone, his remaining compensation is $11.26 million.
The Raiders, we’re told, ultimately paid none of it.
The veteran minimum for a player of his experience stands at $1.21 million. Thus, his remaining salary could be dropped as low as $806,667 — with the rest paid out in a signing bonus.
The new deal does not alter his $35.64 million salary in 2025 and 2026. Unless the Jets and Adams work out something new after the season, he’ll be released at the start of the new league year, in March.
For now, then, it’s a part-year rental by the Jets, with no guarantee he’ll stick around next year. In fact, to get released and to become a free agent for 2025, Adams simply needs to do nothing at all.
Source link : https://finance.yahoo.com/news/jets-davante-adams-restructure-2024-205205471.html
Author : ProFootball Talk on NBC Sports
Publish date : 2024-10-15 20:52:05
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