We take a look at where the NY Giants’ salary cap space stands as of Tuesday night at 7 PM.
It’s been a whirlwind over the past 30+ hours in the NFL, especially for the NY Giants. Many fans were expecting several big names to join Big Blue during free agency, and although that hasn’t been the case, the team has added numerous pieces, namely to its defense.
The NY Giants started off the 2020 free agency period with $77M in cap space, and after signing or resigning at least 8 players so far, Big Blue is almost tapped out on remaining money.
Now, it’s true – as so many of you have pointed out – that no one has the exact first-year cap numbers for a few of these players. However, it’s not rocket science to estimate most of these cap numbers as for the most part these are short-term contracts.
For the purposes of being fair, we’re going to use APY’s (average per year) for the deals that we don’t have first-year numbers on. As is the case with 90% of contracts, the highest cap hit almost always comes in the first year.
The only cap number that could potentially change things here for the Giants would be James Bradberry’s, but again, his deal is only for three years and is 66% guaranteed. He surely worked in a large signing bonus and estimating a $15M number in year one is on the low-end if anything.
The cap hits we know (starting with $77M)
1. Leonard Williams $16M via the franchise tag
2. Blake Martinez $14M in year one (reported by ESPN’s Jordan Raanan and others)
3. Kyle Fackrell: $4.6M (one-year deal)
4. Elijahh Penny: $1.21M (reported by NY Daily News’ Pat Leonard)
What that leaves Big Blue with: $41.2M
Estimating the rest (starting with $41.2M)
1. James Bradberry: $15M (conservative estimate based on 3/$45M w/ $32M GTD)
2. Lee Toilolo: $3.1M (APY on two-year deal)
3. David Mayo: $2.7M (APY on three-year deal)
4. Cody Core: $2.2M (APY on two-year deal)
What that leaves Big Blue with: $18.2M
If you take Dave Gettleman at his word that he wants to leave a $20M reserve for the 2020 season, that would mean the NY Giants are already done spending. I think he was including the draft class in that $20M number which accounts for about $12M, so it’s more likely he wants to have an $8M-$10M reserve for 2020 in-season spending, meaning Big Blue really only has about $10M left to spend tops.
Since I’m only estimating on $22.9M worth on contracts, this really should be very close to where the NY Giants’ cap number stands as of Tuesday night. Again, Bradberry’s deal is the only one that could change things, but if anything, I’d bet his number may actually be higher than $15M. I wasn’t in the room during negotiations, and we’ll see how it works out, but it’s going to be around that number.
We’ll see if Gettleman makes the right decision and decides to let Antoine Bethea go – which would add another $3M the team could really use – but that doesn’t seem likely at the moment.
It’s probably time for Giants fans to accept that our free agency frenzy is basically already over, with only another decent-sized move or a few smaller ones likely still to come. Hopefully, that could mean Markus Golden being brought back as this team still needs pass-rushing help.
We’ll keep you updated on any changes to the cap.