Cap Numbers | Breaking Down Fullback Eli Penny's Contract

Giants fullback Eli Penny's new contract is an affordable pact that gives the team the option of carrying the versatile runner and special teams contributor for the next two seasons.

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As the open negotiation period continues ahead of the official start of free agency Wednesday, the Giants did re-sign a couple of their pending free agents to new deals.

The first of the two pending free agents to re-sign was fullback Eli Penny, who per the Daily News inked a 2-year, $2.2 million contract with just $335,000 guaranteed in the form of a roster bonus that would presumably be due on the fifth day of the 2020 league year.

Penny's 2020 cap hit is $1.21 million, consisting of an $825,000 base salary, the roster bonus, and a $50,000 workout bonus. (Note: With off-season programs put on hold due to the COVID-19 outbreak, it's unclear how the payment of workout bonuses will be handled; we suspect they'll be honored regardless but have reached out for verification).

In 2021, Penny's cap hit drops to $990,000, consisting of just his base salary.

Penny has appeared in 46 NFL games, 30 as a Giant, where he's mainly served as the team's fullback. He has 53 career carries for 188 yards and two touchdowns and 14 career receptions for 97 yards.

Per Pro Football Focus, Penny has appeared in 250 offensive snaps in his two seasons as a Giant. He's also been a core special teams player.

Note: The Giants' 2020 cap space will be fluid for the next days. We are trying to gather information on the first year of the contracts signed in order to provide an estimated update.