The New York Giants are strapped for cash entering the 2022 offseason. The Giants currently have an estimated -$11 million in salary-cap space. In order to get under the cap, the Giants need to release some of their best players.
Many fans believe that the Giants have no more room to operate. The Giants are not expected to be big players in free agency this year because of their cap situation. However, there is reason to believe the Giants will be a bit more active than people expect.
The New York Giants might be in an unhealthy cap situation entering the 2022 offseason. However, the outlook on the future is bright. The Giants will have a bunch of money to spend as early as the 2023 offseason where they are currently projected to have $92 million available to spend.
How the Giants can create salary cap space in 2022
Top cut-candidates
- Blake Martinez (LB) – $8,525,000 in savings
- James Bradberry (CB) – $12,136,111 in savings
- Sterling Shepard (WR) – $4,505,000 in savings
- Kyle Rudolph (TE) – $5,000,000 in savings
- Riley Dixon (P) – $2,800,00 in savings
New general manager Joe Schoen has stated that his goal is to clear around $40 million in salary-cap space this offseason. Cutting the players listed above would put the Giants close to completing that goal. Some of these players are the best that the Giants have on the roster. But, as Schoen said, some “difficult decisions” will have to be made in order to get this team in a healthy financial situation.
Restructuring contracts
Thankfully for Joe Schoen and company, the Giants’ cap woes should not extend past this offseason. New York is above the limit right now, but they have plenty of cuts that they can make to get under the cap. Additionally, the Giants have a lot of money to work with next offseason if they want to extend or restructure some of their players’ contracts.
In 2023, the Giants are projected to have over $90 million in salary cap space. Their only cap hits greater than $10 million are Leonard Williams, Adoree’ Jackson, and Kenny Golladay. The rest of the players taking up a significant portion of the Giants’ salary in 2023 are likely to be cut by the time this next offseason rolls around. The New York Giants will work hard to make space for the 2022 season, but it should be smooth sailing from then on.