|04-26-2013, 04:47 PM||#1|
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Jets OT D'Brickashaw Ferguson Restructures Contract, Clears $5.1M In Cap Room
For the second time in as many offseasons, New York Jets offensive tackle D'Brickashaw Ferguson has restructured his contract to help the Jets free up $5.128 million in cap space.
Ferguson was scheduled to earn $8 million in 2013, a sum comprised of a $7.25 million base salary (which was guaranteed for skill) and a $750,000 workout bonus, and had a cap number of $10.716 million.
According to a source with knowledge of the restructured contract, Ferguson will still earn $8 million, but his $7.25 million base salary has been reduced to the league minimum for a player with seven accrued seasons ($840,000) and the remaining $6.41 million has been converted to a signing bonus that will be prorated over the next five seasons. Ferguson's $840,000 base salary is guaranteed for skill and his $750,000 workout bonus is unchanged.
As a result of the restructure, which is similar to the one that the 2006 first-round pick agreed to last February, Ferguson's cap number has decreased to $5,588,667, a cap savings of $5.128 for the 2013 season.
Source: Yahoo! Sports
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