The Jets continued their cap maneuvering Monday night as they restructured the contract of defensive end John Franklin-Myers, converting $6 million of his base salary into a signing bonus, per ESPN’s Field Yates. The Jets saved $4.8 million in salary cap space as a result.
More cap space for the Jets: the team is converting $6M of DL John Franklin-Myers’ base salary into a signing bonus, creating $4.8M in 2023 cap space, per source.
Now we see what they will use that cap space on…
— Field Yates (@FieldYates) March 14, 2023
Franklin-Myers was set to make $11.4 million in base salary in 2023. This move allows him to get that $6 million up front and will still have a base salary of $5.4 million. The move adds $2 million to his cap hits for 2024 and 2025 but it does drop his cap hit for this season to $7.6 million.