Peyton Manning Rumors: Are the Jets Making Moves to Sign the Quarterback?

The Jets have started to make moves that could allow them to sign a big free agent this offseason.

Left tackle D'Brickashaw Ferguson has agreed to restructure his deal to help give New York some salary cap relief in 2012.

Ferguson is scheduled to make $9.985 million this season. Reports say the Jets will convert $9 million of that to a signing bonus, which will give the club $7.5 million in cap relief.

New York and the tackle agreed to an eight-year contract worth $73.6 million prior to the 2010 season.

The salary cap is projected to be around $122 million for the upcoming NFL season. Before the move, the Jets were less than $1 million away from that number.

The move will allow the Jets to spend a lot more money in free agency this year. New York certainly has holes to fill after finishing a disappointing 8-8 in 2011.

Could they be making the move with an eye on bringing in Peyton Manning?

The Colts have still yet to make a decision on whether or not they're keeping the quarterback.

If Indianapolis decides to release Manning by the Mar. 8th deadline, many believe the Jets will be a suitor.

After the season ended, rumors circulated that people in the Jets front office weren't sure if Mark Sanchez should be their quarterback. There were also a few unnamed Jets who came out and said that the quarterback was lazy.

One anonymous team source said New York should try to sign Manning if he hits the open market.

C'mon, that's a no-brainer. If you have a chance to get a healthy, 36-year-old Peyton Manning and you don't do it, then you're stupid. If I could get a healthy 36-year-old Peyton Manning, then hell yeah, I would trade Sanchez.

Even Jets owner Woody Johnson would not dismiss the possibility of the team trying to acquire Manning, when he was asked about it.

I'm not going to ever tell you guys what we may or may not do. Our job, and my job for the fans, is to take this team to the very top level... So, we're going to look at everything. We're going to look at every possibility, and that's what you'd want us to do.

The Jets are not the only team that has been linked to Manning. The rival Dolphins have also been rumored to have interest in signing the quarterback.

At one Nevada sportsbook, the odds of Manning signing with the Jets is at 11 percent.