Pennington Won't Accept Pay Cut

Earlier in the week, reports surfaced indicating the New York Jets had asked quarterback Chad Pennington to take a reduction in salary from his current $8 million per year to just $1 million. Despite adding incentives to the deal that would allow Pennington to recoup the balance of the original deal, Tom Condon, Pennington's agent, rejected the deal Friday. So now the Jets face the decision of keeping their QB at his current rate of pay, working out some other form of restructuring, or simply releasing him.

Pennington is coming off a second operation on his throwing shoulder in as many seasons, and there's no way of knowing how he will respond if/when he finally gets back to 100%. And with a $3 million roster bonus due on March 3, the Jets very well could opt to cut ties should he refuse to make his compensation more palatable. For a team that is facing a tough cap situation and a difficult rebuilding process, it just may not make sense to keep Pennington around.

In fact, a number of high-priced veterans on the Jets could be asked to take pay cuts or be shown the door. Among them are future Hall of Fame running back Curtis Martin, receiver Laveranues Coles, center Kevin Mawae, guard Pete Kendall, and tackle Jason Fabini.

Poll: Should the Jets Keep Chad Pennington at His Current Salary?
1. Yes
2. Only if he accepts a pay cut.
3. No, he's too big of a health risk.

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