It's all but official; free agent wide receiver Santonio Holmes has agreed to terms on a contract with the New York Jets according to ESPN's Adam Schefter.
The details of the deal are a five-year deal that is worth $50 million, with $24 million guaranteed.
There were rumors that the Washington Redskins were going to be players for acquiring Holmes, however the Jets jumped in with a offer that Holmes simply could not refuse.
During Holmes' first year with the Jets last season, he reeled in 52 balls for 746 total yards and scored six touchdowns while playing in only 12 games.
Holmes is arguably New York's biggest part to their offense, and it was almost a necessity to retain Holmes due to his production in his first year as a Jet.
Now that the Jets have added Holmes for $24 million guaranteed, it puts the Jets in a rather bad position, considering that they were already above the new league salary cap prior to the signing of Holmes.
If the Jets want to add more players like Nnamdi Asomugha or simply re-sign players like Antonio Cromartie or Braylon Edwards, then they're going to have to open up some cap space.
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