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Jets eye restructuring WR Holmes' contract

The SportsXchange

The New York Jets want to structure wide receiver Santonio Holmes' contract to reduce his $12.5 million salary cap figure for this year, ESPN reported Monday.

Of the $11.25 million Holmes is set to make this year, $7.5 million is guaranteed. He played in only four games last year and has made $20 million over the last two seasons.

Holmes said in December that he had to have another foot surgery but would be ready by the 2013 season opener.

If the Jets cut Holmes, he can make a maximum of $7.5 million with another team, with Jets paying the difference between $7.5 million and what the other team gives him.

The Jets already dumped $30.7 million from this year's salary cap by cutting linebackers Bart Scott and Calvin Pace, safety Eric Smith and offensive tackle Jason Smith. That put the team about $5.7 million under the cap.

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