"The Jets got Chrebet to sign a "split" contract, a complicated deal that would save them from having to pay his entire $1.5 million salary if he's placed on injured reserve with a concussion. Ordinarily, a player receives his full salary on injured reserve. Clearly, the Jets are concerned that another concussion would end Chrebet's season - and quite likely his career. The "split" salary, as negotiated by both parties, is $500,000. It means that, if Chrebet were to land on injured reserve, his salary would drop to $500,000 from $1.5 million. Pro-rated over the course of a season, the difference is about $60,000 per week."
A source close to Chrebet disputes these numbers.
"It says that Wayne Chrebet agreed to a $1.3 million paycut, that is wrong," said the source. "It said his base salary was lowered this year to $1.5 million, that is wrong. His base salary this year is $2 million. There is a $500,000 error right there.
"The Jets have been good to Wayne. He has made $8.5 million over the last two years. They need a little cap relieve, and they are a little concerned about the concussion situation, so they built a floor in the contract.
"Only if Wayne had a season-ending concussion would he lose the ability to make his money back. He was only concerned that if he broke an ankle or blew out a knee, he was protected on that. He understand the clubs concern about concussions, and is helping them out. In the third-year of a deal that size, you usually have to move money around. That happens to everybody. So the money was moved around into some very makable incentives on his backend money. He is comfortable with it and the club is comfortable with it.
"He gets $500,000 no matter what. For working with them, he got a guarantee. Wayne had a $2.8 million salary. Now he has $2 million in base and he has $800,000 that were put in some very makable incentives if he plays.
"Also, in the collective bargaining agreement, a player if he decides to pack in because of injury, can file for an injury protection benefit. You can do it once during your career. That will pay a guy of Wayne's tenure another $250,000. So he actually has a golden parachute of $750,000."
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