The New York Giants are creating some extra cap space ahead of the regular season. According to Field Yates of ESPN, the Giants restructured the contract of star linebacker Bobby Okereke, freeing up $4.5 million in 2024 salary cap space.
The Giants have restructured LB Bobby Okereke’s contract
The Giants are restructuring Okereke’s contract just days away from the start of the regular season — just as they did a year ago. The move frees up $4.5 million for the G-Men, which is a crucial amount considering they had dwindled their cap space down to just $2 million prior to this restructuring.
Okereke is one of Big Blue’s best players, so they feel comfortable moving more guaranteed money down the road on his deal. He has two years left on the four-year, $40 million contract he signed with the team last offseason. The Giants had an out in Okereke’s contract in 2025, but will push that down the road and give themselves more flexibility for the upcoming season.
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Could the Giants be preparing to sign somebody?
Fans have drummed up speculation that the Giants could be planning to sign a free agent ahead of the start of the regular season. In addition to restructuring Okereke’s deal, they also cut core special teams player/linebacker Carter Coughlin. The two moves open up a roster spot and open up money to fill a roster spot with an upgrade.
The G-Men did plenty of work this offseason to upgrade the roster, however, some holes do remain. Adoree’ Jackson was signed earlier this week to give the team more depth at cornerback, but the starting CB2 position is still undetermined.
Perhaps these two roster moves could foreshadow a forthcoming addition to the roster.
Or this could be a wise move made by general manager Joe Schoen to give his front office some flexibility during the regular season. It is wise for teams to have a little bit of cap space during the regular season that they can utilize in case of emergency, rather than spending all of their money. This move gives the Giants that desired flexibility and insurance.
