ESPN New York believes Santonio Holmes (foot surgery) is likely entering his last season with the Jets.

It's no surprise, as Holmes was a candidate to be released this offseason but agreed to restructure his contract. With a $10.75 million cap charge in 2014, there's little chance that he'll be back with the Jets. Holmes is questionable for the start of training camp.

Santonio Holmes (foot surgery) is expected to be "brought along slowly" in training camp.

Holmes sustained the dreaded Lisfranc fracture in Week 4 of last season and has had at least two surgeries since. It's the kind of injury has a tendency to linger -- especially for players that rely on sharp cuts and speed. Even before the injury, Holmes was a bench player in fantasy. He's averaging 3.5 catches for 46.3 yards with nine touchdowns over his last 20 games.

Santonio Holmes (foot surgery) will not attend the start of Jets' voluntary workouts on Monday, opting instead to continue his rehab in Ohio.

It's only news because of Holmes' sordid recent history. The mercurial receiver should be present for all mandatory activities, and remains on track to be ready for Week 1.

Jets coach Rex Ryan admitted it's "certainly a possibility" Santonio Holmes (foot surgery) is limited in training camp.

Santonio Holmes has agreed to restructure his contract, ensuring he'll be back with the Jets in 2013.

Holmes has been an injured, largely ineffective flop since Mike Tannenbaum guaranteed him $24 million on a five-year, $45-plus million deal in 2011. But $7.5 million of his 2013 salary ($11 million) was guaranteed, and the Jets understandably didn't want to part with a player they'd be paying $7.5 million regardless of his 2013 whereabouts. Holmes, 29, is coming off two foot surgeries. We'll have full details of his restructure in a future Rotoworld blurb.

Profootballtalk's Mike Florio considers the Jets "likely" to release Santonio Holmes if he doesn't accept a pay cut.

Florio doesn't cite sources, but he's plugged-in enough to know this could definitely be the case. Holmes does hold leverage because $7.5 million of his $11 million salary is guaranteed. Florio insists Holmes' "best bet" would be to take the pay cut coming off a major foot injury. We'll know soon whether he will.

ESPN New York reports the Jets are "insisting" Santonio Holmes reduce his $11 million base salary.

The sides are negotiating a reworked contract, but the Jets have typically little leverage since $7.5 million of Holmes' salary is guaranteed. The only thing working in New York's favor is that offset language prevents Holmes from earning more than $7.5 million in 2013 if he's released. In other words, he can't "double dip." Perhaps the sides can agree on a $2-$3 million cut.

Offset language in Santonio Holmes' contract prevents him from earning more than $7.5 million in 2013 if he's released by the Jets.

In other words, Holmes couldn't "double dip" on the open market and draw big checks from two teams. It gives the Jets a modicum of leverage as they try to persuade Holmes to cut his $11 million base salary, but beat writer Rich Cimini believes he could still tell Gang Green to "jump in the lake." Cimini thinks there's an actual chance Holmes will be cut if that's how talks unfold.

The Jets are hoping to get Santonio Holmes to restructure his contract.

Unfortunately for the Jets' brutal cap situation, Holmes holds all the cards because $7.5 million of his $11 million base salary is fully guaranteed. The Jets definitely can't cut him, and he doesn't have to budge. Holmes is currently recovering from two surgeries to fix a Lisfranc fracture in his left foot.

ESPN New York suggests the Jets could ask Santonio Holmes to take a pay cut.

Holmes is owed $11 million in 2013, $7.5 million of which is guaranteed. He won't be released. Still, it's a lot to pay for an under-producing wideout coming off two surgeries to repair a Lisfranc fracture. New GM John Idzik has inherited a steaming pile of slop to work through this offseason.