New York Jets quarterback Mark Sanchez speaks to the media...

New York Jets quarterback Mark Sanchez speaks to the media during a news conference at the team's football practice facility. (July 26, 2011) Credit: AP

FLORHAM PARK, N.J. -- Mark Sanchez knows the Jets are straddling the NFL's new $120-million salary cap, leaving them in a tight spot in the free- agency market.

So the third-year quarterback is willing to step in and be of assistance in a very big way -- by restructuring his megabucks contract if need be. Sanchez talked about that possibility Tuesday, mentioning he'd already spoken with his agent about it.

With 17 free agents seeking new deals -- including wide receivers Santonio Holmes and Braylon Edwards -- the Jets likely will have to free up some cash to go on a shopping spree. The Jets reportedly made an offer to Holmes Tuesday, and a team that supposedly has Holmes high atop its wish list -- the Redskins -- agreed to terms with wideout Santana Moss.

Sanchez's cap number for this season hovers around $17 million, and he's willing to make that number friendlier if it would help Mike Tannenbaum pull in some players.

"Whatever it takes, whether it's adjusting contracts, delaying payment," Sanchez said. "Whatever we have to do, our team will do it. I know that and we'll be unselfish with it. So we'll figure it out."

A source with knowledge of the situation told Newsday that the Jets hadn't approached Sanchez about reworking his deal, but didn't believe there would be a problem if and when the time was right.

Sanchez expressed confidence that Rex Ryan and the Jets' front office will find a way to make it all work.

"That's Mr. Tannenbaum's, that's Mr. [Woody] Johnson's and Rex's -- that's like them trying to get a third-down conversion," Sanchez said. "That's them trying to throw a touchdown pass. That's them getting a sack. That's what we do on the field; well, this is what they do in the offseason. I know they'll position us and acquire the best talent we can with the finances we have."

Sanchez said he's spoken to Holmes and Edwards a few times, though he declined to comment on what they discussed. But he admitted he wouldn't mind talking about the possibility of restructuring his five-year, $44.5-million deal as a selling point to any free agent.

"Absolutely,'' Sanchez said. "And I'll tell the guys this, too. They know that. Whatever it takes to win. If it's throwing the ball lefthanded, I'll throw lefthanded. It don't matter. We need to win and we'll get the right players.

"Whatever we need to do. I think our whole team feels that way. If it's [Darrelle] Revis, me, whoever. It doesn't matter. So we'll do whatever we can.''

But even if the Jets rework Sanchez's deal, that doesn't mean they'll be able to sign both Holmes and Edwards. Sanchez understands there's no true guarantee he and his wideouts will be back together for another run at the Super Bowl.

"It was such a luxury to have both of them last year, and it's almost unrealistic to have that kind of receiving corps again,'' Sanchez said. "But whichever guys we get back, it's going to be them playing really well and me getting better -- upping my completion percentage, being more accurate, throwing more touchdowns -- that will help us all. Whether we have Braylon and Santonio, and Brad [Smith], or one of the three, two of the three, whatever it is.

"It's a matter of both sides getting better.''

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