Don't be surprised if the Jets try to get WR Santonio Holmes to take a pay cut on his $11 million base salary -- an exhorbitant amount for a No. 2-quality receiver coming off a serious injury. Problem is, $7.5 million of the salary is guaranteed. If they cut him, they'd take an $11.25 million cap hit and they'd also have to pay him the $7.5 million.
However, unlike Mark Sanchez' guarantee, Holmes has an offset clause, meaning he can't double dip if he's released. In other words, his maxes out at $7.5 million in 2013 earnings if he's cut and signs elsewhere. Maybe, with financial motivation to stay a Jet, he'd be receptive to a restructured deal. New GM John Idzik is supposed to be a skilled negotiator; let's see if he can get Holmes to take a haircut.