Short Answer: All the available cap space we have is used. We can create more if we want to by pushing dollars forward with LW and AJ. Pretty easy to create something like $25-$30MM. Also extending Dex could create space, if we want.
So with all the moves this week, we now basically have no cap Space after we cut Golladay ( about $9MM if just top 51). For those that don't remember, only the top 51 count until we get to the regular season, then it is all 53. So we probably have just enough to sign our draft class, but will have to make some adjustments prior to the season beginning. Adjustments to make:
LW is the big one. His cap hit is $32MM, and we save $20MM this year and $6MM if we cut him. Could save more this year if we post june 1 him. Regardless of his cap hit, he is only getting paid $18MM this year. Cutting him is the answer if they don't think he is worth the $18MM. The other cap stuff is moot, since they can move it if they want. Option 2 is extend him - agree to a deal and spread the cap hit out. Cap wise they can pretty easily spread out as much money as they want this way. Question is whether they want to and what his price is. Lastly, they can just move the money to future years with bonus conversion and void years. They have done that before, which is why his number is so big now. We could do something similar with Adoree. His cap hit is $19MM, he is getting paid about $11.5MM, and cutting him saves about $8.5MM.
If they don't want to lock in money to LW or AJ, they could move money with the new contracts (seems unlikely), extend Dex, or trade/cut SB (the latter only if he has not signed FT).
And no, they’re not cutting Leo. He’s part of the solution, not the problem. If they need cash he’ll be extended.
There’s plenty of flexibility since the Giants could create about $7.5 million in cap savings by converting most of his $11 million salary into a bonus that prorates evenly over the four years of the contract. Otherwise, they’ll almost certainly need to do something to lower Leonard Williams’ $32.3 million cap hit this year in order to continue adding pieces in free agency.
However the money works out, the appeal of this trade is obvious for the Giants. For the cost of a late third-round pick, they acquired one of the most dynamic tight ends in the league. The top tight ends in free agency, who can’t match Waller’s production, will likely command salaries in the range of the $13.1 million average annual value of Waller’s contract with the Giants. And those free-agent contracts will include more money guaranteed."
In the end, they will have $10-$12 mill left after the draft picks are signed.
Dan Duggan
@DDuggan21
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7m
It’s fruitless to try to keep a running tally of cap space and it’s hard to even guess without seeing how Okereke’s deal is structured
only if he agrees to sign his franchise tender as part of a trade
Why? His contract is perfect. If he has a good year great. If he clunks like Rudolph did we can cut him this time next year with $495,000 dead money. Why change that?
At a minimum there would be a healthy trade market for Williams, especially if the Giants ate some salary.
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Who would that leave them with on the DL. Dex, Nunez-Roches and Ryder Anderson. That's nuts.
At a minimum there would be a healthy trade market for Williams, especially if the Giants ate some salary.
Trade him for what. We’d still be left with Dex, Nunez-Roches and Ryder Anderson as our staring DL. You thought our run D was bad last year. You think Okereke will save us behind that DL.
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In comment 16064093 BillT said:
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Who would that leave them with on the DL. Dex, Nunez-Roches and Ryder Anderson. That's nuts.
At a minimum there would be a healthy trade market for Williams, especially if the Giants ate some salary.
Trade him for what. We’d still be left with Dex, Nunez-Roches and Ryder Anderson as our staring DL. You thought our run D was bad last year. You think Okereke will save us behind that DL.
What I'm saying is there is no way the Giants are straight cutting Williams. At worst he would be traded.
I don't think trading him is a high likelihood scenario. They'd have to get a top 50 pick back, and presumably they'd draft his replacement on day one or two.
But I think it's all moot, because they have myriad other ways to make the cap work this year.
This Shiny New Toy Season gets annoying quickly. Remember when Kenny Golladay was going to lead the new powerful Giants offense?
if they restructure 8m this year, it creates 6m of cap space in return for 6m of dead money risk left after this year. so even if they cut him next year they'd still save about 4-5m.
yes a big part of the appeal is that right now there's 0 dead money risk, but i would hope they like the player enough that they are willing to carry a little bit of risk.
the best ways to create room are extending jackson and leonard williams with guaranteed $ at flatter cap hits.
does adoree turn down something close to the bradberry deal right now? id doubt it. or leo something close to what dremont just got from seattle? again doubt it. depending on structure those 2 deals could save something like 10-15m of cap space and keep good players in the fold at reasonable AAVs.
Dan Duggan
@DDuggan21
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7m
It’s fruitless to try to keep a running tally of cap space and it’s hard to even guess without seeing how Okereke’s deal is structured
Wow, I feel stupid. I didnt even notice his deal was not yet in the numbers. Unfortunately, I agree with Gidie. I am not suggesting we cut anybody. Just outlining options. And once Okereke's numbers are in the need for manipulation becomes immediate.
They need draft $, in season $ and fcontinued roster building $. It would make sense to do at least some of this now.
is probably one of the top things that JS is working on.