It looks as if the Jets are willing to stick with Pennington for another year. The Jets were able to restructure Pennington's contract on Sunday, giving the team the salary cap relief that they desperately needed. Pennington, who had rotator cuff surgery twice last year, will not become a free agent now.
If the Jets had kept Pennington without restructuring his contract, he would have counted towards about $12 million against the cap. Knowing that he has been injured before, Pennington wisely took the pay cut rather than having too big of an ego.
"Our intention all along was to have Chad remain with the Jets and we never wavered from that," said Mike Tannenbaum, the team's general manager. "Chad is a courageous and talented leader. Throughout this process, he put the interests of the team ahead of his own, enabling us to reach an agreement on terms beneficial to both parties."
The team also extended the contract of offensive lineman Pete Kendall. Kendall signed with the Jets in 2004 and has started all 32 games the past two seasons.
"In 2005, he displayed the versatility that we knew he possessed when he signed with the Jets," Tannenbaum said. "His leadership skills and high level of play provide us flexibility along the interior of the offensive line."
The team also cut long time Pro Bowl center Kevin Mawae. Mawae tore his left triceps in Week 6 and missed the rest of the season. By cutting Mawae, the Jets saved about $1.1 million against the cap.