Nick Folk Restructures Contract

The Jets and kicker Nick Folk have restructured his contract according to Field Yates.

Source: the Jets have converted $1.78M of K Nick Folk's $2.5M base salary into a signing bonus, creating $1,186,667 in cap space for 2015.

— Field Yates (@FieldYates) September 12, 2015

What does that mean? Well, for starters it does give the Jets an extra $1.1 million in immediate cap space to work with.

It also adds $593,333 to his cap hit over the final two years of his contract in 2016 and 2017. The $1.78 million that was part of his salary this season is now spread evenly over the last three years of his deal ($593,333 in 2015, 2016, and 2017). It will now also count against the Jets' cap even if they cut him as dead money.

For Folk's part, he isn't taking a pay cut. He would have gotten that $1.78 million paid evenly over the course of the season. Because the deal was restructured, the Jets are going to cut him a $1.78 million check now. That's not a bad deal.

This is minor shuffling of resources, creating a little more today and taking a little from tomorrow.