Giants Among Biggest Spenders So Far in Free Agency
The New York Giants entered the offseason with approximately $32 million in cap space. They were expected to make at least one “splash” signing, and the rest would be filled with value.
Thus far, that's precisely what general manager Joe Schoen has done. Schoen swung for the fences, landing edge rusher Brian Burns in a trade with the Panthers and signing him to a five-year, $150 million contract. The Giants also made other moves and immediately skyrocketed up the charts as the top spender in free agency based on the guaranteed money reported during the 52-hour "legal negotiating window."
To recap, here is a list of who the Giants have signed, the contract numbers provided (courtesy of Over the Cap) provided where applicable:
- Re-signed: LS Casey Kreiter (TBD)
- Re-signed: WR Gunner Olszewski (one year, $1.25 million)
- Re-signed: LB Carter Coughlin (one year, TBD)
- Tendered: CB Nick McCloud (one year, $2.985 million)
- Signed: G Jon Runyan (three years, $30M)
- Signed: RB Devin Singletary (three years, $16.5M)
- Signed: T Jermaine Eluemunor (two years, $14M)
- Acquired via trade: EDGE Brian Burns (five years, $150 million)
- Signed: QB Drew Lock (one year, $5 million)
- Signed: S Jalen Mills (one year, TBD)
- Signed: WR Isaiah McKenzie (TBD)
According to Pro Football Focus, the Giants have spent a whopping $187.5 million on free-agent contracts, with $114 million spent toward guaranteed money.
Following the acquisition via edge rusher Brian Burns trade, the Giants gave him a five-year, $150 million extension with $87.5 million guaranteed. The deal made Burns the second-highest-paid pass rusher in the league behind Nick Bosa of the San Francisco 49ers.
Otherwise, the Giants' spending has been modest at best. They’ve made key special teams re-signings in long snapper Casey Kreiter, punt returner Gunner Olszewski, inside linebacker/special teamer Carter Coughlin, and cornerback/special teamer Nick McCloud.
They didn’t land one of the top guards on the market but still came away with a solid option in Jon Runyan Jr at $30 million over three years. However, arguably, their best value signing was offensive lineman Jermaine Eluemunor, to whom they gave $14 million over two years.
Running back Devin Singletary will replace Saquon Barkley, having received a three-year deal worth $16.5 million. They also signed their backup quarterback, Drew Lock, for a fully guaranteed $5 million for one year, making him the fifth-highest-paid backup at his position at the time of signing.
The Giants still need to address a few needs, such as CB2 and WR1, but the team appears to be planning to grab those positions in next month's draft. Overall, at least on paper, Schoen has done a solid job plugging some roster holes while not spending like an out-of-control shopper at a clearance sale. Whether these moves actually pay off for the Giants is still to be determined, though.
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