The Jets severed ties with seven players yesterday, including cornerback Ty Law and quarterback Jay Fiedler, and restructured the contract of running back Curtis Martin — all in an effort to reduce their bloated payroll.
The Jets began the week roughly $26 million over the salary cap. They must be under the cap by March 3, the first day of free agency.
The Jets asked quarterback Chad Pennington to take a significant salary cut last week, but his agent, Tom Condon, rejected the request. On Tuesday, they put the franchise tag on defensive end John Abraham, who will probably be traded.