Jason Cole, citing a source close to Percy Harvin, reports that the Jets have approached by about taking a pay cut. However, Harvin is reportedly unwilling to accept any decrease in pay for next season.
According to Cole, Harvin could be open to the idea of restructuring his contract, but the Jets have yet to offer him this option.
Harvin believes he would do well as a free agent, especially now that teams have elected to keep veteran receivers like Larry Fitzgerald and Vincent Jackson, rather than cut them loose for cap purposes.
Last we heard regarding Harvin, Jason La Canfora reported several teams reportedly “covet” Harvin on a short-term contract.
Meanwhile, Mike Florio of Pro Football Talk specifically mentioned that the Chargers, Packers, and Patriots are all worth keeping an eye on in the event Harvin ends up being available.
Jason La Canfora reports that Harvin will not accept a pay cut to be back with the Jets, which leads him to believe that Harvin’s release is “imminent.”
As Rich Cimini pointed out previously, the Jets will need to make a decision regarding whether or not to keep Harvin by March 19.
Should the Jets elect to retain Harvin, they would have to send the Seahawks their 2015 fourth-round draft pick. However, releasing him would reduce the compensation to just a sixth-round selection.
In the end, the decision is still likely to come down to whether or not the Jets are comfortable parting with a fourth-round pick and paying Harvin a decent salary next year.
Harvin, 26, has another four years remaining on his six-year, $67 million contract that included $25.5 million guaranteed. However, Harvin’s contract includes no guarantees in the coming years, and the Jets wouldn’t incur any salary cap ramifications by releasing him.
Instead, the Jets would free up $10.5 million by releasing Harvin outright, according to OverTheCap.com.
In 2014, Harvin has caught 51 passes for 483 yards receiving while contributing another 202 yards on 33 carries (6.1 YPC) and two total touchdowns over the course of 13 games.
Pro Football Focus has him rated as the No. 34 receiver out of 110 qualifying players.