by Michael Stephens

Pennington Done in N.Y.The sticky situation regarding Chad Pennington could be resolved later this week as the NFL scouting combine commences, the Newark Star-Ledger reports. But it’s not looking like the former Marshall star will remain with Gang Green.

Pennington’s refusal to accept the Jets’ proposal to cut his salary from $8 million to $1 million (while having him make up difference through incentives) means the quarterback is likely on the way out, according to the New York Daily News.

The Jets have the fourth overall pick in the NFL Draft and new coach Eric Mangini is reportedly targeting Vanderbilt quarterback Jay Cutler, who turned in an impressive performance at the Senior Bowl. Another good showing at the combine could mean Cutler is the guy… and Pennington is officially done in New York.

Chadwick Pennington signed an eight-year, $64 million contract in 2004, but two major shoulder surgeries later, the Jets are concerned that he will ever regain starting-caliber form. He is due to make $9 million in 2006 (a $3 million roster bonus due March 3, plus $6 million in base salary). He is scheduled to count $15 million against the 2006 salary cap, so by cutting him, the Jets would get stuck with $12 million in “dead” money — but would net $3 million in savings.

If Pennington gets released, he will surely end up somewhere at a lower salary. While he may not be guaranteed a starting job, he’s got the talent to thrive when he’s healthy, so don’t cross him off the fantasy board just yet. As for Cutler, it’s hard to see the Jets turning over their offense to a guy from Vanderbilt. Have they had a winning season since Reconstruction? Then again, if you look at their current list of signal-callers, it doesn’t seem like you could do any worse.



Pingback by Fantasy Football Files » Blog Archive » CURTIS WILL REMAIN JETS’ FAVORITE MARTIN

February 23, 2006 @ 3:38 pm

[…] But will Martin be taking the handoffs from a different starting quarterback? The teamis still negotiating a new deal with Chad Pennington, but it appears unlikely the injured signal caller will accept a drastic pay cut. […]



February 27, 2006 @ 11:40 am

[…] Meanwhile, New England joins other AFC East squads with quaterback questions. Granted, the Pats at least know who will be taking their starting snaps - some guy named Tom Brady - but he recently underwent hernia surgery. A full recovery is expected, however, and Brady should be one of the top three QBs taken in the 2006 fantasy draft. […]


Pingback by Fantasy Football Files » Blog Archive » VICK RECEIVES ROSTER BONUS; FALCONS FLY UNDER SALARY CAP

March 2, 2006 @ 2:19 pm

[…] Vick just made news off the field, however. The Falcons guaranteed the All-Pro quarterback a $7 million roster bonus, creating around $5.25 million in salary cap space. The team still needs to get under the 2006 cap, but is now in far better shape to do so than other clubs, such as the Jets. […]


Pingback by Fantasy Football Files » Blog Archive » JETS, PENNINGTON RE-WORK DEAL

March 6, 2006 @ 2:49 pm

[…] Chad Pennington agreed to restructure his contract with the New York Jets, keeping him with Gang Green for a guaranteed $3 million in 2006. His original deal called for him to make $9 million next season, leading to speculation that Pennington would be cut. The $6 million difference can be made up through incentives as the quarterback looks to bounce back from two serious shoulder operations. […]

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