Buckskin86
Moderator
No extension
The New York Jets not only stole Santonio Holmes from Pittsburgh for a paltry fifth-rounder, but they'll also get the Super Bowl XLIII most valuable player for a cheap price, too. Because of Holmes' four-game suspension, New York will pay just $577,353 of his scheduled base salary of $755,000 for 2010. And as was the case with Braylon Edwards, they'll inherit the wideout with his contract as is, ESPN.com has confirmed.
Because of the esoteric 30 percent rule, which states that a player's salary can't vary by more than 30 percent from one year to the next, there will be no contract extension for Holmes, and possibly not for cornerback Antonio Cromartie, the Jets' other big trade acquisition this spring, either. Holmes is in the final season of his rookie deal. But because he is in just his fifth year, he will only be eligible for restricted free agency next spring, provided there is no salary cap. The Jets can retain a right of first refusal, as they did with Edwards, by making him a tender offer.
NFL: New draft format means more intrigue surrounding top pick of second round - ESPN
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