Crowder, who is entering the final year of his deal, found his roster spot in jeopardy following the addition of Elijah Moore and given his mostly non-guaranteed contract.
As a result, the Jets were able to get Crowder to take a sizable pay cut in exchange for roster security. But how much of a pay cut did Crowder take? And what impact does this have on his future with the organization?
The details of his new deal were revealed on Sunday.
What deal did Jamison Crowder and the NY Jets agree to?
Per Over The Cap, Crowder now has a 2021 cap hit of roughly $6.353 million which is down from the $11.375 million he was originally expected to count for. That's a savings of over $5 million in total.
In return, Crowder received a significant boost in guaranteed money. The veteran slot receiver had just $1 million in guarantees prior to the restructure — now he has $4.5 million in guarantees.
Combined with his prorated bonus, the Jets would incur a dead cap charge of $5.5 million if they were to release Crowder at any point. Essentially, this means his roster spot is safe with the team.
At least in regard to being outright released.
Interestingly enough, the Jets left themselves an opening in case they want to trade Crowder at any point. Trading Crowder before the start of the season would leave them with just a $1 million dead cap charge — the same as with his old deal.
This means that the Jets could still theoretically trade Crowder with few cap penalties. But for Crowder, it guarantees that he'll make at least $4.5 million this season regardless of which team he plays for.
The Jets didn't tie themselves to Crowder despite increasing his guarantees. They simply freed up cap space and gave him more financial security. In essence, they kept their options open.
With Moore looking like a potential superstar in spring practices, it's going to be difficult for the Jets to keep their young wideout off the field. And given the abundance of slot receiver depth they have, there's still no guarantee that Crowder is on the team in 2021.
Moore, Braxton Berrios, and Keelan Cole all have plenty of experience playing in the slot and were likely the team's three most impressive receivers this spring.
Jamison Crowder has roster security. The Jets have more financial flexibility. But Crowder is by no means guaranteed to be a Jet in 2021.