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Maybe I see this a little differently, but I think this gives Woody a necessary layer between himself and the GM and coaches. I think Woody is way too close to Rex and Tanny. You saw it on Hard Knocks, and you continue to see it at the Jets facilities. Tannenbaum has been with this team since the day Woody took ownership. A team president gives Woody the level between to say it was a "football" decision as opposed to his decision alone. Not to mention it allows him to let Glat do the deed rather than himself.
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