New York Frees Up $10.5 Million In Cap Space As Trade For Marshall Becomes Official

NEW YORK (CBSNewYork) — The New York Jets released wide receiver Percy Harvin on Tuesday, the team nanounced.

Harvin’s fate was sealed when New York traded for Bears wideout Brandon Marshall last week. The Jets’ deal with Chicago became official when the league year officially began at 4 p.m.

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Though there is expected to be a healthy market for Harvin’s services, new Jets general manager Mike Maccagnan didn’t close the door on the veteran receiver entirely.

Acquired from the Seattle Seahawks in mid-October for what turned out to be a sixth round pick, Harvin had 29 receptions for 350 receiving yards and a touchdown in eight games with the Jets. He was reportedly unwilling to restructure his contract, making his release an expected consequence.

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Gang Green, which started the negotiating frenzy with more than $50 million in cap space, was expected to make a hard push at reuniting with cornerback Darrelle Revis and was reportedly set to add Seattle’s James Carpenter to the offensive line. The Jets re-signed linebacker David Harris on Friday.

With Harvin’s $10.5 million off the books, new general manager Mike Maccagnan will have even more room to upgrade a team that finished a disappointing 4-12 in 2014. He’s also reportedly targeting quarterback Brian Hoyer to challenge Geno Smith for the starting quarterback job.

The Jets had until March 19 to cut the 26-year-old Harvin without having to give up a fourth-round pick. Seattle will instead get a sixth-rounder from New York in the upcoming draft.

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