Feb. 23 (Bloomberg) -- The New York Jets have freed $7.5 million in salary cap space for next season by reworking Pro Bowl offensive lineman D’Brickashaw Ferguson’s contract, the New York Daily News reported, citing an unidentified person.
The National Football League team converted $9 million of Ferguson’s $9.99 million base salary this year into a signing bonus, according to the newspaper. The cap value of the bonus will be spread over the remainder of his contract, opening up $7.5 million in cap space for the team heading into the 2012 season.
The Jets and Ferguson in July 2010 agreed on a six-year, $60 million extension that will keep him under contract with the team until 2017. Ferguson has started all 96 games for the Jets since being selected with the fourth pick in the 2006 NFL Draft. He was named to the Pro Bowl in each of the last three seasons.
New York had less than $500,000 in cap space before the restructured deal, according to ESPN. Last year’s salary cap was $120 million. The team finished 8-8 last season after reaching the American Football Conference title game the previous two seasons.
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