New York Giants cap space: Players Joe Schoen can cut to create $12 Million
New New York Giants general manager Joe Schoen will have his work cut out to get under the salary cap in his first offseason at the helm
There’s no polite way to put this; Joe Schoen is going to need to navigate the New York Giants out of salary cap hell.
As a pivotal offseason, one that should begin an overdue rebuild of a roster that’s lost double-digit games each of the past five years, begins, the Giants currently sit approximately $5.74 million over the cap in 2022.
Schoen acknowledged what he’s up against, from a cap perspective, during his introductory press conference as New York Giants general manager.
“We need to fix the cap over the next couple years,” Schoen said Wednesday.
Schoen is put in a difficult position, with limited upside this offseason, because of moves made by former general manager Dave Gettleman and the previous regime. For example, the New York Giants converted all of Solder’s salary in 2022 into a signing bonus, which in turn tied up $4 million in cap space that would trigger a $4 million dead-money charge if he were released.
But, there are some moves that can be made, and players who can be released, to create additional cap space.
Five moves alone can give the New York Giants an additional $11.9 million in cap space, which would position New York to be $5.47 million under the cap
Here’ are five players the New York Giants can cut to create some cap space
WR Sterling Shepard
$4.05 million saved
Sterling Shepard is the longest-tenured New York Giants player, but his time in East Rutherford might be coming to a disappointing close, after tearing his Achilles against the Dallas Cowboys in Week 15.
Shepard is set to count $12.49 million against the cap in 2022, but releasing the veteran wide receiver would create $4.05 million in cap space, while triggering a $7.99 million dead-money charge.
After the Giants selected Kadarius Toney in Round 1 of the 2021 NFL Draft, it seemed a matter of time until he replaced Shepard as New York’s primary slot receiver. Following an inconsistent rookie season, Toney’s time appears to be 2022.