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New York Jets news, commentary and insider info from beat writer Kimberley A. Martin.

Holmes, Cromartie agree to restructure contracts

SANTONIO HOLMES | Jets, wide receiver Holmes reportedly

SANTONIO HOLMES | Jets, wide receiver
Holmes reportedly suffered a Lisfranc fracture of his left foot on a non-contact injury in Week 4 against San Francisco and is likely to miss the rest of the 2012 season.
(Credit: AP)

**Updated @ 11:33 p.m.***

Per NFLPA records, Holmes' new base salary is $7.5 million -- the same guaranteed amount he was due for this season.

Cornerback Antonio Cromartie converted $6.16 million of his $7 million base salary into a signing bonus in order to help the Jets clear cap room. The two-time Pro Bowler's base salary now stands at $840,000, but he still earns a $2.3 million roster bonus. According to nyjetscap.com, the Jets cleared almost $8 million thanks to the Holmes and Cromartie restructures.

In other contract news, records show the Jets signed QB David Garrard to a one-year, $1 million deal. According to Yahoo! Sports, Garrard's cap number is $1.1 million after factoring his $100,000 signing bonus.

The Jets have close to $16 million in cap room after today's free agency moves.

Santonio Holmes has agreed to a restructured contract and will remain with the Jets for the 2013 season, according to ESPN's Adam Schefter.

Holmes was scheduled to receive an $11 million base salary ($7.5 million guaranteed) for this upcoming season and carried a $12.5 million cap number.

The wide receiver signed a five-year, $45-plus million deal that guaranteed Holmes $24 million. He finished with 20 catches for 272 yards and one touchdown in 2012 after suffering a season-ending Lisfranc injury in Week 4 against San Francisco.

Tags: jets , santonio holmes

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