Should The New York Giants Trade For Michael Floyd?
By Neal Lynch
NFL Draft Lead Writer Matt Miller of Bleacher Report wrote that an Arizona Cardinals scout and a team source said the Cards are willing to trade wide receiver Michael Floyd “to move up or add picks”. Should the New York Giants make an offer?
Here’s the excerpt Miller mentions the trade possibility:
"“Arizona Cardinals: Even with restricted free agent Tony Jefferson signing his one-year tender, I’m told by a Cardinals scout that they will target a defensive back in Round 1. The center position is one the Cardinals could target early, and the scout said the team fell in love with Alabama’s Ryan Kelly. The scout and another team source both said they wouldn’t be surprised if wide receiver Michael Floyd is used as trade bait to move up or add extra picks. That was the case last year, too.”"
In four seasons with the Cardinals, Floyd has started 39 of 63 games played, catching 209 balls for 3,200+ yards and 19 touchdowns. He averages 3.3 receptions for 52.3 yards per game and more than 15.8 yards per catch, which is 7th highest among active wideouts. His 16 yards per catch in 2013 was 10th highest in the league while his 17.19 yards per catch in 2014 was second most league-wide.
His approximate value of 24 is 16th best of all players taken in that draft and third best of all wide receivers behind Indianapolis Colts third round pick TY Hilton and Chicago Bears second round pick Alshon Jeffery. His 209 reception total is 4th best among ’12 draftees (right behind Tennessee Titans first round pick Kendall Wright) while his receiving yards number is third best and his 19 touchdowns land him 4th behind former New York Giants pick Rueben Randle.
It’s possible Floyd’s numbers just aren’t good enough for the Cardinals after selecting him 13th overall in the first round of the 2012 NFL Draft. Though, his NFL numbers aren’t that far off from his stats at Notre Dame, when he had 271 catches for 3,600+ yards and 37 touchdowns. The more likely cause of the Cards’ interest in unloading Floyd would be his back-loaded contract.
Floyd signed a 4 year, $9,971,500 contract with Arizona, including a $5,692,000 signing bonus and an average annual salary of $2,492,875. In 2016, he’ll earn a base salary of $7,320,000 after being a cap hit ranging from $1.7 to $3.1 million his first three years. The Cards can’t cut him because that would cost them Floyd’s entire 2016 base salary ($7.32M). Thus, a trade makes the most sense.
Right now, the Giants have eight wide receivers under contract: “100% healthy” Victor Cruz, return specialist Dwayne Harris, perennial Pro Bowler Odell Beckham, Jr., then a quartet of questionables – Anthony Dable, Tavarres King, Myles White, 2015 draft pick Geremy Davis, and Ben Edwards. One would think Dable and Edwards are long shots to make the opening day active roster. Floyd is only 26 years old and probably has at least another four or five years of solid productivity left.
The Giants have room under the salary cap to pay Floyd with $21 million available and approximately $6 million reserved for the players picked in the 2016 NFL Draft. If Big Blue were to trade for Floyd, his contract would be the 5th or 6th biggest hit to the salary cap and he’d be the highest paid wideout on the team.
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What would it cost the Giants? Currently, the Cards sit at #29 in the draft order. The Giants could get Floyd and swap first rounders. Arizona’s in the market for a cornerback, they could get someone like Jalen Ramsey, Vernon Hargreaves or Eli Apple. Meanwhile, the G-Men could still add a quality wide receiver in the second or later like Clemson’s Charone Peake, Ohio State’s Michael Thomas or Braxton Miller, or South Carolina’s Pharoh Cooper.
Beckham, Cruz, and Floyd would be hard to guard.