The Jets have restructured D'Brickashaw Ferguson's contract, a source confirmed Friday.
The veteran left tackle, and Freeport native, was scheduled to earn $8 million this season -- a $7.25 million base salary and a $750,000 workout bonus. But in a cost-cutting move, the Jets have significantly slashed Ferguson's base salary and cleared over $5 million in cap space in the process.
The three-time Pro Bowler will make the same amount -- $8 million -- but his new base salary is now the league minimum for a player with seven accrued seasons: $840,000 (which is guaranteed). Ferguson still gets his $750,000 workout bonus, plus a $6.41-million signing bonus that will be prorated over the next five seasons.
Ferguson initially carried a cap hit of $10.716 million, but by restructuring his contract the Jets have cleared $5.128 million.
The news was first reported by Yahoo! Sports.
Cornerback Antonio Cromartie and wide receiver Santonio Holmes also agreed to contract restructures this offseason.