NFL trade deadline: How much cap space do NY Giants have?

The NY Giants can free up additional cap space for 2021 by moving several veteran players at the NFL trade deadline

The NY Giants got a head start on next week’s trade deadline by dealing edge rusher Markus Golden to the Arizona Cardinals in exchange for a 2021 sixth-round pick.

A team source tells GMenHQ that the trade was made to begin accumulating additional picks next April, as well as cap space to be rolled over from 2020 to 2021 in anticipation that the cap dips significantly following this season that has been marred by COVID-19 in terms of testing costs and significantly decreased ticket revenue.

Trading Golden freed up approximately $1.6 million in cap space that the Cardinals are now responsible for after the Giants paid approximately $2.5 million for Golden’s first seven games of this season.

Following Friday’s trade, the Giants now have $9.55 million in cap space, according to Spotrac.

The Giants can use that money under the cap to sign the likes of defensive linemen Leonard Williams and Dalvin Tomlinson, or more likely roll the cap space over to 2021.

Currently the Giants have the 17th most cap space in 2021, with approximately $21.15 million to spend, according to Spotrac. However, bear in mind that the expectation among NFL GMs and executives is that the cap could dip significantly before this offseason begins.

However, with several veterans who could be coveted commodities ahead of next Tuesday’s trade deadline, could create more room under the cap which could be an added motivation for GM Dave Gettleman to sell.

Here is a look at the cap ramifications, via OverTheCap, of trading some of the players who have been mentioned to be available:

TE Evan Engram:

Trading Evan Engram would create approximately $1.92 million in cap space for the rest of this season, but the Giants would absorb a $1.483 million dead-money hit. However, there is no dead money attached to Engram’s contract in 2021, and a trade would free up just over $6 million in cap space next season.

RG Kevin Zeitler:

Trading Zeitler would create $5 million in cap space for the remainder of this season, and clear $12 million off the books in 2021. The Giants would absorb a $7.5 million dead-money hit this season, and a $2.5 million dead money hit in 2021.

WR Golden Tate:

Trading Tate would create approximately $3.294 million in cap space for the Giants this season, $8.5 million in 2021, and $6 million in 2022. The Giants would absorb $7.508 million in dead money this season, and $2.352 each of the next two seasons.

DB Logan Ryan:

Trading Ryan would create approximately $1.5 million in cap space, while the Giants would absorb a $5 million dead money hit by treading him. The advantage to trading Ryan would be the possibility of acquiring a draft pick in return, and the ability to transfer the $1.5 million to 2021.

Matt Lombardo is the site expert for GMenHQ, and writes Between The Hash Marks each Wednesday for FanSided. Follow Matt on Twitter: @MattLombardoNFL.