Per Jordan Schultz, of the Huffington Post:
Obviously, this would likely mean the end of Ryan Fitzpatrick and possibly Geno Smith as well, if the team only intends on carrying three quarterbacks. So the questions now are, should the New York Jets do this, and if so, what's the maximum they should pay?
EDIT: Just kidding.
Jets GM Mike Maccagnan: "We're not in discussions with any other teams with any of the QBs... I can put that to bed."— Manish Mehta (@MMehtaNYDN) April 30, 2016