Report: Jets thinking about releasing Mark Sanchez

mark sanchezAccording to ESPN’s Sal Paolantonio, now that the New York Jets have drafted quarterback Geno Smith, they are thinking about releasing Mark Sanchez with a post June 1st designation.

Below is an explanation of how releasing Sanchez after June 1st helps the Jets.

What we are talking about here deals strictly with the acceleration of prorated bonus money onto the current years salary cap. The NFL essentially breaks up its salary cap accounting for bonuses into two periods with June 1 being the trigger date. When a player is removed from a players roster prior to June 1stall his remaining unamortized bonus money immediately accelerates onto the salary cap. To illustrate this we see how the Kansas City Chiefs gave Steve Breaston a $5 million dollar signing bonus in 2011, which was accounted as $1 million in yearly expenses over the course of his 5 year contract. When he was released just the other day he had only completed 2 years of his 5 year contract meaning the Chiefs salary cap had only accounted for $2 million of the $5 million paid in 2011. The balance of $3 million dollars immediately accelerates onto the Chiefs 2013 salary cap.

After June 1 the NFL changes the way the acceleration works.  After June 1st only the current years expense remains on the books after the player is released. The balance accelerates onto the following years salary cap. So in Breaston’s case had the Chiefs waited until June 1st to release him his salary cap charge in 2013 would have been $1 million and in 2014 he still would be on the books at $2 million dollars

The Jets just need to eat the money and release both Sanchez and Tim Tebow so they can just start over.