Report: Jets Lower Wilkerson's 2016 Cap Hit By $5.7 Million With New Contract

Dan Graziano of ESPN reports the Jets have created $5.7 million in new cap space with Muhammad Wilkerson's new contract.

So the Jets save $5.701 million on this year's cap with Wilkerson deal. Makes a 1-yr deal for Fitzpatrick possible, if they want.

— Dan Graziano (@DanGrazianoESPN) July 15, 2016

Wilkerson was previously set to count $15.7 million against the cap had he played on the franchise tag.

Functionally speaking, this could save a player like Breno Giacomini or Nick Folk from being cut if the Jets do re-sign Fitzpatrick. It also could open the door for a veteran cap signing if the Jets do not bring out Fitzpatrick. That probably would have been off the table without the new deal for Wilkerson.

Obviously, with the short-term cap savings, the Jets have added big cap hits onto future seasons with the new contract for Wilkerson.

Hat tip to GGN's Holdout for directing us to this tweet.