I saw that Leonard Williams, another insane Gentleman signed(money-wise) was restructured during training camp. That freed up a lot of cap space. The bulk of his money is a signing bonus(some accounting shenanigan to get his salary down to 1.7 million.)
Did Golliday get approached to do.something similar. Was that an option for the Giants with this albatross contract? And if he was approached to restructure and he told the Giants "no" then I am guessing they are trying to make a hostile, bad work environment -enough that he quits? He is done after this season(with less dead cap hit after this year) but I also guessing he won't be part of the scheme for the future so they are gonna use him as some 25 million dollar paperweight?
Most likely scenario is he’s cut after this season
Given the size of Golladay's, we can assume that's the case, but that's not been reported.
The reason the Giants opted for Williams is simply because his salary was bigger (18M), and allowed them to free more 2022 cap space.
Golladay has aa 13M salary, so the Giants would have freed less money by restructuring his deal.
Keep in mind, the only difference for the player is getting the money upfront vs. installments. All of Golladay's salary is guaranteed in 2023.
Most likely scenario is he’s cut after this season
1) The Giants created dead money against Williams in his restructure
2) The name attached to the dead money is simply a balance sheet technicality, adding more dead money to Golladay's name doesn't matter vs. Williams (remember he already has a void year in 2025, and amortized bonus money that will accelerate if he's cut)
If the Giants designate Golladay is a June 1 cut in 2023, they would save 13M on the 2023 cap (with 3.4M in dead money in 2023 from his signing bonus).
In 2024 Golladay would have a dead money hit of 6.8M -- which would be the remainder of his original signing bonus.
He would be free to sign elsewhere the moment he's released. It's the Giants who would not be able to spend that money until June 1.
Yup. As others have said, a re-structure is a good move when you need the money now and don't need it later, but also anticipate the player in question will be part of your plans. Unless something very dramatic happens, the coaching staff (rightfully so) appears to have no interest in keeping Golladay on the team any longer than they have to, so there's no incentive to "defer the payments," so to speak. Just rip the bandaid off now while he's here and do your best to plug and play around the issue.
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Hold off on releasing Golladay next year until after the first round of free agency? Is there any advantage to the Giants? Clearly, there would be a disadvantage to Golladay.
If the Giants designate Golladay is a June 1 cut in 2023, they would save 13M on the 2023 cap (with 3.4M in dead money in 2023 from his signing bonus).
In 2024 Golladay would have a dead money hit of 6.8M -- which would be the remainder of his original signing bonus.
He would be free to sign elsewhere the moment he's released. It's the Giants who would not be able to spend that money until June 1.
We should have plenty of money so June 1 date won’t be significant
Ownership , likely just Maras, signed off on the attempt at short term fixes to win, and finally saw the light(likely Tisch making major complaints) after the series of failed attempts.
Releasing him will have about net -1.5M impact on the 2023 cap, but will open up about 18M in 2024 cap space.
The Giants won't have the in-year cap issues in 2023 they've had the last two years.
And clearing 2024 cap space will help Schoen manage his budget for multi-year deals.
Whatever is going on, it's up to KG and the coaching staff to figure out how he can best contribute. If he's lost speed, can he win jump-ball plays? Is there a role for him? If so, is he willing and able to perform that role?
It's close to impossible at this point that he'll earn the money he's being paid. But KG and the Giants are stuck with each other for a while because of that contract, so it's to everyone's advantage to find something he can do to help the team win. He says he wants to play. Great! Now what?