Where Giants Stand Following Reveal of 2023 NFL Salary Cap
According to the NFL Network, the NFL Network has informed its 32 member clubs that the 2023 salary cap will be a record-high $224.8 million per club. The amount is separate from any carryover from 2022 or any cap credits a team might receive following the conclusion of postseason accounting, which would help push its available salary cap space even higher.
The $224.8 million does not include any carryover from 2022 or any cap credits a team might receive following the conclusion of postseason accounting.
According to the NFLPA public cap report, the New York Giants currently have $1,521,108 in cap space left over from 2022 to carry over, an amount that is not believed to include the postseason accounting.
According to Over the Cap, the Giants have an estimated $44,727,461 total cap space and an estimated $41,573,422 functional cap space. They are likely to gain even more money if, as expected, the team moves on from receiver Kenny Golladay.
If Golladay is designated as a pre-June 1 cut, the Giants would save $6.7 million but have to eat a $14.7 million dead money hit, which includes the guaranteed $4.5 million roster bonus due to the receiver in 2023.
If the Giants designate Golladay as a post-June 1 transaction, they would increase their savings to $13.5 million--more than enough to sign their draft class with plenty left over to get through the summer and the start of the season--but have dead money hits of $7.9 million in 2023 and $6.8 million in 2024. However, if Golladay is designated as a post-June 1 cut, the Giants would not be able to tap into that money until after June 1.
The Giants can also clear additional cap space by lowering defensive lineman Leonard Williams' $32+ million cap hit through an extension and by extending defensive lineman Dexter Lawrence II's $12.4 option year rate to a lower amount.
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