A report from Pro Football talk indicates that cornerback Darrelle Revis could walk away from the New York Jets due to a contract loophole.
Here’s how it works. Revis signed in 2007 a six-year deal that, upon the achievement of certain modest triggers (which he has satisfied), can be reduced at his option to four years. Then, the Jets can buy back years five and six at $5 million guaranteed in 2011 and $15 million guaranteed in 2012.
Here’s the problem. When the contract initially was approved in 2007, the 30-percent rule that limits the giving of raises in uncapped years to players under contract didn’t apply, because a salary cap was in place. The thinking is that, when the Jets try to buy back the last two years of the deal, the NFL will block the maneuver as a violation of the 30-percent rule.
And because the contract includes language preventing the Jets from applying the franchise or transition tag to Revis, he’ll be able to walk away.