Jones, who rushed for a career-high 1,402 yards last year, refused to renegotiate a contract that would see him get $3 million and an additional $2.8 in bonuses.
With the surprising play of Shonn Greene and the return of Leon Washington from injury, Jets coach Rex Ryan and GM Mike Tannenbaum feel they have enough support to stay competitive without the services of Jones.
In his three seasons with Gang Green, Jones rushed for 3,833 yards and 28 TDs. He led the AFC with 1,312 yards in 2008 and was named the starting RB for the conference in the Pro Bowl.
Last year, Jones rushed for a franchise game-high 210 yards against the Buffalo Bills in week six and also reached the 1,000 yards plateau for the fifth consecutive time in his career. For his career, Jones has 9,217 yards and 62 rushing TDs.
With the loss of Jones, the Jets will most likely scour the free agent pool for a cheaper back in case Washington's injury prevents him from being as effective as he was prior. It will be interesting to see who they sign as the players that are available don't exactly look all too appealing.
But with trades, the draft in April, and an offseason still ahead, there is no telling what Tannenbaum could do as he has been on quite the summer streak with Brett Favre in '08 and Sanchez in '09. It's not to say Jets fans should expect some blockbuster deal but never rule out a big name with 'ole Mike at the helm.