This is currently ongoing AS WE SPEAK.
NY Post's Bart Hubbuch and Star-Ledger's Manish Mehta are kind enough to be posting updates LIVE via Twitter.
(We'll keep you posted and continuously edit this thread with quotes and important tidbits from the presser.)
Hubbuch with quotes from Mike Tannenbaum:
Tannenbaum on Holmes: "We understand there are significant risks, but we thought the price was reasonable and the risk was reasonable."
Tannenbaum: "We spoke to some people. We understand there are some risks. Our eyes aren't closed." #Jets
Tannenbaum: Rex pushed for Holmes because Holmes routinely killed Rex's #Ravens defense when he was with the #Steelers.
Tannenbaum: "We know EXACTLY what we're getting into. The pros outweigh the cons." #Jets
Tannenbaum: This acquisition upgrades a passing game that Rex thought was "too spotty" last year. #Jets
Tannenbaum: Rex has said repeatedly that Holmes "cost me a ring" when Rex was with the #Ravens and Holmes was with Pittsburgh.
Hubbuch with quotes from Santonio Holmes:
Holmes: "I was very shocked" by the trade. Didn't hear about it until about 9:20 p.m. ET last night. #Jets
Holmes: "I'm going to be on time for every meeting, and front and center."Holmes said he accepts his four-game NFL suspension and doesn't plan to be a big talker. "My actions will speak louder." #Jets
Holmes continue to stress the word "accountable." Sounds like he's been coached. #Jets