The One Giants Contract No One is Talking About (But Should Be)

The New York Giants salary cap projects to be in much better shape in 2023 than they were this year. They can be even better if they plan to do something with this player's contract.

Author:
Patricia Traina
Publish date:
Dec 3, 2022 11:44 AM EST

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New York Giants

According to Over the Cap, the New York Giants are projected to have almost $60 million in cap space next year.

That number is likely to increase if they, as expected, terminate receiver Kenny Golladay's contract. Depending on when the Giants dump that horrific contract, the Giants could save an additional $6.7 million (pre-June 1) or $13.5 million (post-June 1, which is the more likely scenario).

There's another potential cap move that could be made to open up even more space that not a lot of people are discussing: a contract extension for defensive lineman Leonard Williams, who is 2023, the final year of his deal is due to count for a whopping $32.26 million against the cap, none of which is guaranteed.

Williams, who for the first time in his career had to miss time due to injury, has been a solid player for the Giants. He and fellow defensive lineman Dexter Lawrence II are one of the league's best interior duos. And both are still young enough to have many more solid and productive years together for the Giants' defense.

So wouldn't it make sense, if you're general manager Joe Schoen, to see if Williams might be open to lowering his 2023 cap number to help the team further by extending his deal?

With Williams not having any guaranteed money due in 2023, the Giants wouldn't be locked into having to match any guaranteed figure, meaning they'd have a lot more flexibility in structuring that first year of a contract.

With the Giants probably needing to use the franchise tag on Saquon Barkley at a projected rate of just over $12 million (it would be surprising if they get him signed before the start of free agency), plus potentially extend quarterback Daniel Jones, defensive back Julian Love, offensive lineman Nick Gates, receiver Darius Slayton, defensive end Jihad Ward, and perhaps even cornerback Fabian Moreau, and sign a projected to be an 11-member draft class, that $59+ million in cap space will be eaten up quickly.

Golladay's cap savings will likely be designed as a post-June 1 move and will be used to sign the draft class, which is estimated to cost the Giants $11.427 million.

And while the Giants should have enough even without extending Williams, the extra cap space they would stand to gain could be used to keep guys like Andrew Thomas, safety Xavier McKinney, and defensive lineman Dexter Lawrence from ever coming close to sniffing free agency.