This off-season, the New York Giants have been very active, bringing in new players and free agents. However, as of the beginning of Thursday, they had a league-low $1,998,303 in total cap space due to all those additions that cost them cap space.
The Giants used their top-heavy contracts to create additional room, as was to be expected. Field Yates of ESPN reports that in order to free up $7.5 million in 2024 cap space, the New York Jets altered the contract of defensive tackle Dexter Lawrence by turning $10 million of his $16 million annual salary into a signing bonus.
Based on the assumption that the Giants did not include a voidable year in order to further reduce the converted money, Lawrence’s future cap figures will increase by an extra $2.5 million annually from the $10 million. With the $2.5 bonus, his initial prorated signing bonus of $4.634 million would have increased to slightly over $7.1 million.
Lawrence’s 2024 cap hit is likewise decreased by the restructuring to roughly $14.575 million.
For more than thirty years, Patricia Traina has covered the New York Giants for a variety of media outlets. In addition to writing “The Big 50: New York Giants: The Men and Moments that Made the New York Giants” (Triumph Books, September 2020), she hosts the Locked On Giants podcast. See Patricia’s complete bio here.
