Giants: Mathias Kiwanuka Gets Deal Restructured, Is There More To Come?

The Giants continued to maneuver their way through the offseason in hopes of creating more salary cap space. The team recently restructured the contract of linebacker / defensive end Mathias Kiwanuka. One look at what’s ahead for the Giants heading into 2013 and it would appear that more moves are ahead for salary cap flexibility.

According to the Newark Star-Ledger, Kiwanuka agreed to have a guaranteed $1.5 million portion of his base salary converted into a signing bonus that drops his cap number from $5.125 million to $4.125 million this season.

General Manager Jerry Reese knows that there is still more to be done with the Giants salary cap. The team has already saved more than $14 million in cap space with the cuts of running back Ahmad Bradshaw, linebacker Michael Boley, and defensive tackle Chris Canty. While they stand to be under the projected salary cap for 2013, the list of moves still pending seems to be daunting and makes it clear that more moves could be on the way in order to address them.

Martellus Bennett, Will Beatty, Kenny Phillips, Lawrence Tynes, and Osi Umenyiora are all unrestricted free agents while Victor Cruz, Stevie Brown and Andre Brown are restricted free agents. It’s also important to remember that Hakeem Nicks will be up for a new contract soon, his rookie deal expires after next season.

Reese has his hands full this offseason and while he may not be able to re-sign everyone on his agenda in 2013, he knows that he must take care of his key players if the Giants are going to field a competitive football team.

I have a feeling that Corey Webster’s phone is going to be ringing pretty soon if it hasn’t already to discuss his current contract. Webster is due in the final year of a six-year pact that is due to pay him $7.25 million. The Giants cornerback is coming off a difficult season that didn’t do much to justify him getting that amount of money from the Giants in 2013. Prince Amukamara and Jayron Hosley could be on deck as next season’s starting corners if Webster’s contract status isn’t addressed. He may have to restructure his deal or risk getting cut.