The New York Giants find themselves in a peculiar position just three weeks before the 2022 NFL draft. The team still needs about $10 million in additional funds to sign their rookie draft class, let alone carry a bit of money into the regular season in case of injury.
There are several ways management could open up more salary space, including trading James Bradberry, which would open up $11.7 million. That would be enough for the entire draft class combined with the $6.34 million they currently have above the cap, per the NFLPA public cap record.
The Giants have deployed several inefficient strategies to clear salary space, but new GM Joe Schoen has had no choice but to make these moves. At the beginning of the off-season, Schoen indicated he would like to avoid kicking the can down the road and restructuring big contracts.
However, he recently restructured the deals of kicker Graham Gano and cornerback Adoree Jackson, clearing about $7.7 million in salary space but converting $11.6 million into a signing bonus. The guaranteed money will be spread out over the duration of the contracts and will add a void year to Jackson’s deal specifically, meaning the Giants will have to pay a few million even after his contract expires.
Given Big Blue has two first-round picks this year that will average out at about $4.5 million apiece, they need a bit more cash than normal for their rookie class. They could avoid paying that significant amount if they trade back to a later spot in the first round or pick up a 2023 selection.
Unfortunately, former general manager Dave Gettleman put the team in a tough spot this season, but the Giants have plenty of cap space in 2023. The team is projected to have $95.5 million before signing the draft class or making decisions on Leonard Williams, who would save the team $18 million if released.
Schoen has been extremely conservative with his approach re-tooling the roster, specifically the offensive line. However, he’s done a good job finding competitive players with plenty of experience.