NY Giants free up major cap space restructuring Nate Solder’s contract

New York Giants offensive tackle Nate Solder (Mandatory Credit: Eric Hartline-USA TODAY Sports)
New York Giants offensive tackle Nate Solder (Mandatory Credit: Eric Hartline-USA TODAY Sports) /

The NY Giants freed up substantial spending flexibility under the salary cap Wednesday, finalizing a restructured contract with veteran offensive tackle Nate Solder, hours before free agency officially opened.

Solder’s restructure, first reported by The Athletic, lowered Solder’s 2021 salary to approximately $4 million, down substantially from the $16.5 million that he was expected to count against the cap in 2021.

Following Solder’s restructure, the NY Giants have approximately $11.5 million in cap space this season.

Here is a full breakdown of Solder’s restructure:

In all likelihood, Solder will serve as the NY Giants’ swing-tackle and push for the starting right tackle job opposite 2020 No. 4 overall draft choice Andrew Thomas. The NY Giants are optimistic about last year’s third-round pick Matt Peart, and at some point he will likely emerge as the starter.

Solder returns, after opting out of the 2020 season out of concern for his son, a cancer-survivor, amid the ongoing COVID-19 pandemic.

The Giants have already signed wide receiver John Ross, running back Devontae Booker, and signed defensive lineman Leonard Williams to a long-term extension, and now with the additional cap space freed up by Solder’s restructure will likely aim to continue to shop for wide receiver help and address needs on defense, as well.

Next. NFL executives break down Giants' John Ross signing. dark

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