The New York Giants have made sweeping changes to their wide receiver corps this offseason, adding Parris Campbell, Jalin Hyatt, and Darren Waller to bolster their aerial attack. While the fresh faces are expected to make waves, the team still has some lingering financial entanglements, notably with former high-profile free agent Kenny Golladay.
The Financial Tug-of-War: Golladay’s Contract
Although Golladay has been cut from the team, his previous lucrative deal continues to impact the Giants’ books. They are obligated to pay him $4.5 million for the 2023 season. Cutting him also incurred a substantial $14.7 million dead cap hit, financially handcuffing the team to some extent.
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Golladay’s Prospects: Jets Workouts and New Beginnings
According to NFL Network’s Tom Pelissero, Golladay had a workout session with the New York Jets this past Wednesday. His activity with the Jets is especially noteworthy given his lackluster performance in the 2022 season, where he appeared in 12 games and made a paltry six receptions for 81 yards and a single touchdown thrown by Davis Webb late in the season. Over two seasons with the Giants, Golladay managed only 602 yards, falling short of the impact the team so desperately sought.
Mismatched Styles: Why Golladay and the Giants Parted Ways
Golladay’s lack of fit with the Giants became glaringly obvious under the new coaching regime, who favor smaller, quicker players who can create separation easily. Golladay, a physical specimen known for his 50/50 jump-ball abilities, didn’t align with the team’s direction. The Giants were willing to cut their losses—both literally and financially—by letting him go and absorbing the resultant salary penalty.
Potential Gains: Jets’ Salary Offer and Giants’ Possible Windfall
Given the Jets’ recent void due to Corey Davis’s retirement, Golladay might find a new football home sooner rather than later. If the Jets decide to sign him, the salary they allocate toward Golladay would be deducted from the $4.5 million bonus the Giants are set to pay him. This financial adjustment would take effect in the 2024 season.
The Giants’ wide receiver overhaul is among the offseason’s most intriguing storylines, not least because of the financial repercussions of Kenny Golladay’s contract. As the Giants look forward to a new chapter with their revamped receiving unit, Golladay’s journey will also be one to watch. Will he find redemption with the Jets? And how will this influence the Giants’ financial commitments? Only time will tell.