New York Jets Make First Round of Cuts, Saving Upwards of $20 Million in Salary Cap Space
The New York Jets‘ expected first wave of cuts is now official, as the Jets announced Tuesday that safety Eric Smith, offensive tackle Jason Smith and linebacker Calvin Pace have all been officially released.
Releasing Pace gives the Jets an immediate cap savings of roughly $8.5 million, while the release of Eric Smith (above) and Jason Smith saves the Jets another $3 million and $12 million, respectively.
In total, the Jets have cleared nearly $24 million in cap space with just these moves. The Jets also waived tight end/H-back Josh Baker, who was making the veteran minimum and coming off a knee injury.
While Baker’s departure is mildly surprising, though understandable, none of the other three cuts come as a shock at all. In fact, the biggest surprise about the first wave of cuts is the guy who was not let go, Bart Scott.
Scott’s cap number is detrimental enough that many expected him to be released in this first wave of cuts along with Pace, Smith and Smith. I actually implored the Jets to bring him back into the fold, regardless.
The word is that the Jets are now trying to do just that, as they will reportedly meet with Scott’s agent this week to try to renegotiate his deal without exposing him to the open market, which I believe is a wise move.
Update: The Jets have now confirmed that they are releasing Scott today as well. Shedding his salary saves them another $7 million, and now puts the Jets firmly under the salary cap by a few million dollars.
I am hoping that the Jets bring back Scott at a reduced salary. Only time will tell whether that’s the case.