Giants general manager Joe Shawn said he wants $40 million in the offseason, though he has never given a deadline for when he wants to do so.
However, if the Giants intend to add any notable players as free agents, he will want to do so by the start of the league season on March 16. His process has already begun, although there are still a few steps to be taken. .
Sean started the game with a pair of expected cuts from tight end Kyle Rudolph and running back Devonte Booker. The Giants cut player Riley Dixon on Friday, another expected move. They have also agreed to a restructured contract with wide receiver Sterling Shepard, although the terms of this restructuring have yet to be disclosed.
There are other ways to get to that $40 million figure, which Sean says affects the salary cap—as of Friday it was over $7.6 million, not counting Dixon’s cuts or Shepard’s restructuring—and also creates enough places for 2022. draft class, free agents, and other necessary space needed during the season (training lineup, injury replacements, etc.).
Let’s see where they are now and what Sean can do to get that $40 million figure:
Step 1: Cut out Kyle Rudolph. The Giants cut the veteran’s tight end on March 2, less than a year after he signed a two-year, $12 million contract. He didn’t contribute much in his only Giants season. His cutting saved the giants $5 million in a confined space while they suffered a $2.4 million fine for a dead cap.
Total savings: $5 million.
Step 2: Cut out the RB Devontae Booker. The Giants also cut Booker on March 2. He made a significant contribution to the Giants, tying Saquon Barkley for the rushing lead and delivering a more consistent performance than Barkley as a whole. But the Giants overpaid Booker early last year (two years, $5.5 million) when it didn’t make much sense to give much more than the bare minimum to reserve runners. Booker cut saved $2.125 millionwith a $1 million dead cap.
Total savings: $7.125 million.
Step 3: Cut out Riley Dixon’s P. The Giants cut Dixon on Thursday, an expected move for a player making too much money (reaching the $3.1 million cap in 2022) after a poor season. They have signed veteran player Jamie Gillan as a potential replacement this offseason. Dixon’s Reset Rescued $2.8 million against the ceiling, with $320,566 in a dead cap.
Total savings: $9.925 million.
Step 4: WR Sterling Shepard Pay Cut. The Giants and Shepard have been working on restructuring the remaining two years of his contract, and it looks like they’ve come to an agreement in the last couple of days. Shepard was to receive a maximum of $12.49 in 2022 and $13.49 million in 2023. The new deal is expected to eliminate this second year, and according to ESPN, Shepard will now be able to hit a $5.5 million top value this season – much of that is likely due to various performance or playing time rewards – although it’s not yet clear. exactly how it will be structured. The Giants are expected to at least save what they wanted, they just cut Shepard clean, who is recovering from an Achilles injury. That is: approx. $4.5 million in savings. Expect this move to be a hit in 2023 as well. (Note: This $4.5 million figure is an estimate at this point, not official.)
Total savings (estimated): $14.425 million.
Step 5: Cut out TE Caden Smith. The 24-year-old performed well in his three years with the Giants when the opportunity presented itself, but injuries have derailed his 2021 season and a knee problem could see him retire. With Smith cut, the Giants now only have two titles on the active roster: Chris Mayarik and Rysen John, who have a total of three catches in the NFL. Kyle Rudolph has already been cut, and Evan Angram is expected to go into free agency. Cutting Smith Save the Giants $2.54 millionno dead cap penalty.
Total savings (estimated): $16.965 million.
Step 6: LB Blake Martinez took a pay cut. The veteran linebacker has been a key part of the Giants’ defense and it’s understandable that the team wants to bring him back, even after tearing his anterior cruciate ligament. On the FridayMartinez accepted a pay cut to stay. An acquaintance told NJ Advance Media that Martinez and the Giants discussed a pay cut a week ago and that Martinez did not want to leave. It’s unlikely that Martinez would have made that much at large after this injury, and the Giants would have a hard time finding a real upgrade to start at the center of Wink Martindale’s defense. Expect the restructuring to look much like it did when the Giants restructured Nate Solder’s offensive deal last year, saving them the amount of money they would have received anyway with the cut but no dead cap penalty. According to ESPN, pay cuts will save the giants $6 million. Expect his new deal to also include incentives.
Total savings (estimated): $22.99 million.
***
These are the steps the giants have taken so far. Now on to what they can do next to get to the $40 million figure…
Step 7: Trade or Cut James Bradbury’s CB. This will be a key move to bring the Giants to that $40 million figure. They could also sign Bradberry for an extension to lower the limit in 2022, but the reality is that Sean doesn’t want to invest in future years and Bradberry is this team’s most valuable and realistic trading asset they have right now as quality player. in the premium position. This year, Bradberry should get a cap of $21.8 million, which is too much, especially since Sean has made it clear that he will not restructure any contracts (like Leonard Williams or Kenny Golladay) except as a “last resort”. To save money. So Bradberry (or downsizing if there is no market) is the most likely path. Swapping Bradbury, who should get one or two picks in the middle of the round, would have saved $12.1 million with a $9.7 million fine.
Total savings (estimated): $35.09 million.
Step 8: Cut C Nick Gates. This is the sad reality of the football business. Gates, a former undrafted rookie, has developed into a quality offensive lineman, captain, and popular teammate. Then he suffered a horrific injury in the second week of last year, putting his career in question. Maybe the Giants can take him down to minimum wage to stay, but he will likely spend the entire 2022 season on injured reserve. Cutting it out now would have saved $2.125 millionwith $879,167 in a dead cap.
Total savings: $37.215 million.
Step 9: Cut or trade Darius Slayton’s WR. Shepard returns, with Kenny Golladay and Kadarius Tony taking places ahead of Slayton on the depth chart. He’s proven he can be a quality player, but he’s having a bad season and his salary has jumped a little higher than Sean could pay a player who would be fourth wide receiver in the depth table at best. It’s possible Slayton would have agreed to a pay cut, but that’s not guaranteed – especially since he would at least be interested in free agency as a young serious player with proven, recent production. Trading for a late round pick or a player would also make sense. Swapping or cutting Slayton would save $2.54 million with $58,721 in the dead cap.
Total savings: $39.755 million.
Step 10: Cut out the OLB Oshane Ximines. He was a healthy scratch for most of last season. The former third-round pick was a huge disappointment. Savings will be minimal, but we are trying to reach $40 million. Cutting Ximines saves $995,000with a fine of $209,195.
Final tally: $40.75 million in savings, $14.567 million in dead-cap fines.
Alternative moves the giants could take to save money:
– Trade Saquon Barclay. It shouldn’t be completely out of the question, but I wouldn’t expect it at this time, even if it saved $7.2 million without any loss.
– Trade Logan Ryan. He is unlikely to be of much value in the trading market due to his age and salary ($9.25 million), and in any case, the savings would be negligible: $6.275 million, subject to a $5.95 million unused capital penalty.
– Cut or exchange DB Julian Love. He is still valuable in this defense due to his versatility, though perhaps Sean thinks his $2.732 million cap is too high. Of these, they would have saved all but $192,715.
– Leonard Williams, Kenny Golladay or Edory Jackson restructurings: Williams ($27.3M), Golladay ($21.15M) and Jackson ($15.264M) made huge strides in 2022, but Sean said he only restructures deals last. resort.
Please subscribe now and support the local journalism that YOU rely on and trust.
Zack Rosenblatt can be contacted at [email protected].