The Bucs, however, still owe Gang Green another pick -- a conditional third or fourth-rounder in 2014 -- to complete the deal, as noted by ESPN's Rich Cimini this week.
New York's return on that specific part of the trade hinges on whether Revis, who is on a year-by-year contract worth $16 million annually with no guarantees, is on Tampa Bay's roster March 13. If he isn't, the Jets are stuck with the less valuable pick.
Tampa Bay wouldn't take a cap hit if it were to trade or release the once-best cornerback in the NFL, so new head coach Lovie Smith & Co. can proceed with a not-so-complicated decision knowing there are no strings attached.
CBS's Jason LaCanfora reported earlier this week that at least two teams have inquired about Revis.
As for the Jets, they do have a legitimate dog in the fight, as the difference between a third or fourth-rounder could adversely affect how they attack their most glaring needs -- tight end and wide receiver. Both positions are deep and will provide a lot of top talent in the first three rounds.