Brian Costello of the New York Post reports that the Jets have guaranteed WR Santonio Holmes his $7.75 million base salary as well as his $7.75 million base salary in 2013 by not cutting him yesterday.
His contract required him to be released by 4:00 p.m. ET on Tuesday on since no move was made, the Jets are essentially stuck with him and his cap number. New York could have prevented paying him $15.25 million over the next two years but they chose to try to make things work between Holmes and Mark Sanchez.
The Jets have said publicly that they intended to keep Holmes and they stuck with it on Tuesday. They still need to upgrade the position as Plaxico Burress isn’t expected to be back next season so they could be looking at options in the free agent market as well as the draft.