The New York Times is reporting that the Jets would offer former New England Patriots quarterback Tom Brady a contract worth about one million dollars per year, or $1 million per year if he signed a four-year deal.
Brady has one year remaining on his current contract.
He is set to become an unrestricted free agent this summer.
According to the Times, Brady is also seeking about $3 million per season in incentives.
The team has also been in talks to sign quarterback Brian Hoyer, but they have been outbid by the Philadelphia Eagles.
It would be one of the biggest offers in recent years.
The deal would be for two years and $4 million.
Brady would also get a $250,000 signing bonus, and the team would have to pay him $150,000 in incentives for each of his first two seasons.
He would also be entitled to a $200,000 performance bonus if he reaches 1,000 pass attempts, 200 rushing yards and 300 passing yards in each of those seasons.
The Patriots also have another $200 million in salary cap space this offseason.
The NFL salary cap is projected to be about $100 million this year, according to ESPN.
The Eagles are also set to be one team that could make a run at Brady.
The league is currently set to have $50 million in cap space, with $25 million of that going to the teams salary cap and the remaining $25.5m in cap room going to other teams.