Report: Giants could fetch late Day 2, early Day 3 pick in Kayvon Thibodeaux trade

As the rumor mill continues to heat up at the NFL Scouting Combine, there appears to be fire behind the smoke regarding a potential Kayvon Thibodeaux trade. While New York Giants general manager Joe Schoen attempted to play it cool earlier this week by stating Thibodeaux is with the team “right now,” more recent reports suggest the team is listening to offers.

The Giants Could Fetch a Day 2/Day 3 Pick for Kayvon Thibodeaux

According to ESPN’s Jordan Raanan, multiple sources with other teams are under the impression that the former No. 5 overall pick “can be had in a trade for the right price.”

Raanan also added a projected price tag for Thibodeaux in a trade:

“Multiple sources told ESPN they’d expect Thibodeaux to fetch a late Day 2 or early Day 3 pick,” Raanan reported. “Otherwise, perhaps a player-for-player deal — like the New York Jets did this week for edge rusher Jermaine Johnson with the Tennessee Titans — could be an option.”

This reporting from Raanan corroborates an earlier report from ESPN’s Dan Graziano that stated it seems “more likely” the Giants will try to trade Thibodeaux than extend him.

SNY’s Connor Hughes also reported that the Giants are listening to offers on Thibodeaux.

“Kayvon Thibodeaux, per sources, is a player the #Giants are listening to offers on and the belief from teams here at the combine is that he will eventually get dealt,” Hughes posted on X.

Thibodeaux is coming off a disappointing 2025 season in which he totaled 2.5 sacks and played in just 10 games. He was placed on injured reserve with a shoulder injury and subsequently missed the final seven games of the season.

The Financial Incentive

The financial incentive for the Giants’ front office to move Thibodeaux is undeniable. Trading him before the June 1st deadline would allow the team to wipe his entire $14.75 million cap hit from the books with zero dead money. This would provide the necessary ammo to potentially re-sign Jermaine Eluemunor or pursue other free agents to plug positions of need.

Edge rusher isn’t a position of need for the Giants, nor would it necessarily be one if they traded away Thibodeaux. They currently have a surplus of talent on the edge, with Pro Bowler Brian Burns being joined by 2025 Defensive Rookie of the Year Finalist Abdul Carter.

Thibodeaux is the No. 3 edge rusher on this team. As a result, his snap share would be limited, as he would have to split time with Carter and Burns, and serve a more rotational role. It is hard to justify paying a player a fully guaranteed $14.75M cap hit to play that role.

And, considering the Giants have Burns and Carter under contract long-term, it seems unlikely they would want or be able to pay Thibodeaux big-time money long-term as well. Rather than letting him walk for nothing in the 2027 free agency, the Giants can try to get something for him via trade this offseason.

Should the Giants Avoid Selling Low?

The argument against trading Thibodeaux now is that the Giants would be selling off an asset at a low point. Thibodeaux’s 2025 season was disappointing, and his projected trade value reflects that.

At one point, Thibodeaux was a hot commodity who could have easily fetched the Giants a Day 2 pick in a trade. But now, they might only get a Day 3 pick.

There is an argument to be made to hold onto Thibodeaux for now, then try to trade him to a pass-rusher-needy and contending team at the deadline mid-season. If Thibodeaux is having a good year, then perhaps a team would be willing to send the Giants a Day 2 pick for him.

But the Giants have a lot of holes to fill now. They also don’t have a lot of cap space. They need to create some cap space, and trading Thibodeaux is one of the quickest and easiest ways they can do that without creating another massive hole on their roster.