The Jets and DL Mike DeVito restructured his contract on May 2, per source. He took a pay cut from $3.11 million to $2.5 million this season. His base salary is now $700,000. Signing bonus of $950,000. Roster bonus of $500,000. Workout bonus of $350,000. Trying to get to reason why he would do this.
[QUOTE=C Mart;4462657]The Jets and DL Mike DeVito restructured his contract on May 2, per source. He took a pay cut from $3.11 million to $2.5 million this season. His base salary is now $700,000. Signing bonus of $950,000. Roster bonus of $500,000. Workout bonus of $350,000. [B]Trying to get to reason why he would do this.[/B]
Vrentas: Jets defensive lineman Mike DeVito restructures deal
A week after the Jets drafted North Carolina defensive end Quinton Coples in the first round, veteran Mike DeVito restructured his contract.
DeVito had been scheduled to earn $2.26 million in the final year of the extension he signed in 2009. In a restructured deal he agreed to last week, he will earn a base salary of $700,000, fully guaranteed, according to NFL Players Association records.
The $500,000 roster bonus he already received this offseason, as well as his $350,000 workout bonus, are intact in his restructured deal. He also received a $950,000 signing bonus, making his total compensation this year $2.5 million.
His cap number, and total compensation, reduced by about $600,000. Since he is due a guaranteed $2.5 million, it is essentially assured that the team will not cut him.
However, the contract also includes a $750,000 escalator, based on playing time, so DeVito has the opportunity to earn his money back.
Coach Rex Ryan has already said that Coples, drafted No. 16 overall, will start, though he hedged a bit by pointing out that the Jets use many different defensive packages and fronts, so “starter” is a loose term. Still, it is clear that Ryan intends to make Coples a significant part of the defense, which could in turn reduce DeVito’s role.
“I know (DeVito) is a tremendous player,” Ryan said after the draft. “To explain his exact role right now, I don't feel like I can do that right now.”
DeVito originally came to the Jets as an undrafted free agent in 2007 and has been an important part of their defensive line. He played in 12 games last season with 11 starts, missing four games with two separate knee injuries. The Jets announced in January that DeVito had offseason shoulder surgery.
In addition to DeVito taking a pay cut last week, the Jets also cut defensive lineman Ropati Pitoitua, a pair of changes very likely tied into the addition of Coples.
This is the tough business side of football. With Coples coming in with a
much greater upside Tanny probably gave him the "re-structure or get
released" ultimatum. The upside for Devito is the majority of his money
he'll get before the season even starts
He converted a lot of money to guaranteed money, at the cost of turning about $750K into a playing time bonus. I think it was a good move for both sides. He saw what happened to Ropati and knows that he's still one of 6 or 7 guys sniffing around the Defensive Line rotation.
[QUOTE=10PennyToColes87;4462694]The minimal savings will probably go toward Coples' contract, but I wouldn't rule out a cheap FA OL signing.[/QUOTE]
Unless I'm incorrect I believe that Coples contract will be paid out of the rookie salary pool and no vet money saved can go towards a rookie contract just as no unused monies from the rookie pool can go towards a vet