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:
Nate Solder’s contract restructure is complete, per source. Solder’s salary will be cut to approximately $4M, which will create $6M in cap savings. Same savings as if he was cut.
— Dan Duggan (@DDuggan21) March 17, 2021
Expect Solder to serve as the swing tackle/back-up option if Matt Peart isn’t ready to start at RT.
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.
Matt Lombardo is the site expert for GMenHQ, and writes Between The Hash Marks each Wednesday for FanSided. Follow Matt on Twitter: @MattLombardoNFL.