The Jets were a few hundred thousand dollars over the 2023 salary cap. The deadline to get under the cap is the start of the new league year on March 15. The team has made a move to clear up the necessary cap space, restructuring the contract of tight end CJ Uzomah per Tom Pelissero.
The #Jets converted $4.5 million of TE C.J. Uzomah's salary into a bonus, clearing $3.6M in cap space.— Tom Pelissero (@TomPelissero) March 8, 2023
The best way to think of a move like this is that the Jets lowered Uzomah’s cap hit for this year and raised his cap hit in future seasons by an equal amount.
This merely gets the Jets cap compliant. There will definitely be subsequent moves to clear up the cap space the team needs to bring in free agents and perhaps trade for Aaron Rodgers.
The move makes Uzomah cheaper for 2023. It raises the cost of cutting him after the season, but it does not guarantee him a 2024 roster spot. The Jets would still save money against the cap by moving on from him.