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HEMPSTEAD, N.Y. (AP) - The New York Jets slashed their payroll Wednesday by cutting Pro Bowl cornerback Ty Law and a host of other veterans, including quarterback Jay Fiedler, offensive tackle Jason Fabini and fullback Jerald Sowell.
The team is about $26 million over the salary cap and must be at or under the salary cap by March 3, the opening day of free agency.
The Jets have been negotiating with quarterback Chad Pennington, who twice in the last two years had rotator cuff surgery, in an attempt to reduce a cap number that could be as high as $12 million.
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