If the Jets are capped out, how can Mr. Favre become a member of the team without major cuts?

Question

I know Pennington will be cut, but the salaries don't match. Also, I am trying to find the 2008 salary cap for all teams and am having a little trouble. Anyone?

Answer 1

Jets are about 2 million under the cap. Cutting Pennington saves them another 6 million.  Farve has 12 million dollar contract this year, so Im not sure how the jet will get under the cap.  but they have about 4 million to go or they will have to somehow restructure farve's contract.  

Answer 2

I think thats why they cut Pennington immediately as well

Answer 3

He was traded for a draft pick, so his salary is the one he got from the Packers to stay retired.