D'Brickashaw

Ferguson

The cap hit of Ferguson’s new bonus will be prorated over the final six seasons of the eight-year, $73.6 million deal he signed in 2010. The move gives the Jets a whopping $7.5 million in extra cap space this offseason. Gang Green had previously been amongst the most cap-strapped teams in the league.

Ferguson, 29, was due a salary of $7.25 million but agreed to slash it to $840,000, turning the remaining $6.41 million into a “signing” bonus that is prorated over the last five years of his contract. It’s the second offseason in a row that Ferguson has restructured. Ferguson graded out as Pro Football Focus’ No. 6 left tackle last season, and he hasn’t missed a game in his seven seasons.

It seems like everyone on the Jets wants a new deal, so they have to be happy that Ferguson isn’t making a stink. The Pro Bowl replacement is entering the fifth year of his six-year rookie deal and is set to make $3.1225 million in 2010. Next season, the club has an option on Ferguson for $10 million.

In other words, Ferguson will be back to serve as the Jets left tackle at a 2014 base salary of $5.95 million. And thanks to restructures in back-to-back offseasons, he’ll likely be there through the 2015 season as well. The remarkably durable Ferguson started all 16 games for the eighth straight year in 2013, but he slipped to 40th in Pro Football Focus’ tackle grades out of 76 qualifiers.

Cimini wondered aloud if the Giants would have interest in trying to lure “Brick” out of retirement since they tried to trade for Eugene Monroe and now are courting him as a free agent. Ferguson is still only 32, and seemed to be forced out of New York when the Jets asked him to accept a pay cut.

Ferguson hasn’t missed a start in his nine-year career, leading to concerns that his below-average 2014 is a sign of breaking down. The Jets owe Ferguson $39.9 million over the next three years after restructuring his contract in two of the last three offseasons. Ferguson’s future could be in jeopardy if he doesn’t rebound under new OC Chan Gailey.

Ferguson will turn 32 late this season and has been the Jets’ left tackle since being selected fourth overall in the 2006 draft. He carries an $11.699 million cap hit this season and is scheduled to count $14.107 million against the cap in 2016. Ferguson was PFF’s No. 35 tackle last year. The Jets are said to “have an affinity” for Stanford OT Andrus Peat, who could be Ferguson’s heir.

The Jets are looking to re-sign Ryan Fitzpatrick, Chris Ivory and Muhammad Wilkerson. Re-doing Ferguson’s deal would be an easy way to create salary cap space. Per Cimini, the Jets aren’t “banging at his door” demanding Ferguson to take a pay cut. 32-year-old Ferguson’s stock is at a career low after finishing 62nd out of 76 qualifiers in PFF’s year-ending tackle grades.

Ferguson is coming off a career-worst year, finishing in the bottom half of PFF’s tackle grades. Restructuring him would allow the Jets to clear cap room for free agents Ryan Fitzpatrick, Muhammad Wilkerson, and Damon Harrison. 32-year-old Ferguson is owed $28.4M over the final two years of his deal.

The No. 4 pick in the 2006 draft, 32-year-old Ferguson has been the Jets’ stalwart left tackle for a decade. He’s owed $10.375 million this year in salary and bonuses. The Daily News calls the Jets’ requested pay cut “significant.” GM Mike Maccagnan reportedly “made it clear” to Ferguson that his pay-cut acceptance would directly help the franchise re-sign Fitzpatrick. Reporter Manish Mehta writes, “the sense is that (Ferguson) would be amenable to playing on a fair reduced salary, according to sources,” and “the third option is retirement.”