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New York Jets guarantee contract to free up cap space

By Marc A. Greenberg

Pushed up against the wall with cap space for 2012, the New York Jets got a little creative.

They guaranteed a contract.

Manish Mehta of the New York Daily News reports that the Jets have restructured left tackle D’Brickashaw Ferguson’s contract by converting $9 million of his base salary into a guaranteed payment.  The move opens up $7.5 million in cap space.

With no pay cut for Ferguson, and a guarantee of $9 million, it’s a win-win.