Pennington asked to give some money back

Newsday's Ken Berger and Rich Cimini of the New York Daily News both report that Jets quarterback Chad Pennington will be asked to take a paycut.

"The Jets and agents for Pennington have begun discussions aimed at dramatically reducing the injured quarterback's salary-cap figure for 2006, a person with knowledge of the situation confirmed yesterday," wrote Berger. "The seven-year, $64-million deal Pennington signed in September 2004 called for a base salary of $6 million this season. Pennington also is scheduled to receive a $3-million roster bonus on the first day of the league year in early March. Those figures, plus $3 million of prorated signing-bonus money, add up to a $12-million cap figure for 2006.

"Even before Pennington's injuries, the Jets had provisions built into his contract to make it more cap-friendly this season, a person with knowledge of the deal said. They have the option of converting his 2006 base salary to guaranteed money, which would allow them to prorate it over the next four years for cap purposes. The expected move would reduce Pennington's cap figure to $7.5 million in '06."

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