Giants Players Who Project as 2021 Salary Cap Cuts
Part of the benefits of trading contracts is that it can create some much-welcomed cap space relief for a team.
But with the Giants only able to trade away OLB Markus Golden, who was on a one year contract anyway, the team didn't get a wave of relief ahead of what's expected to be a rough year ahead for the league if the 2021 salary cap drops to the $176 million floor as is being projected.
So here's a very early look at those Giants currently under contract that probably won't be once the 2021 league year opens. (I did not include anyone whose contract is expiring after this season since they don't count against the 2021 cap.)
Guard Kevin Zeitler
Zeitler, acquired from the Browns in a trade for Olivier Vernon, has been the best of the Giants offensive linemen for the last two seasons.
In 2019, his first season with the Giants on a more veteran line, Zeitler was charged with allowing 22 pressures. Through eight games with a much younger line, he's allowed 17 pressures.
With that said, the offensive line will continue taking a spin toward the youth movement, especially as Shane Lemieux continues in his development.
With a team-leading $14.5 million cap hit for 2021 and Lemieux waiting in the wings, it’s difficult to justify carrying Zeitler’s cap number in 2021, a year in which the salary cap could drop to as low as $176 million.
Zeitler currently has a $14.5 million cap hit in 2021, the second-highest on the team. Although he still has a lot of good football left in him, the Giants will likely move on and take the $12 million savings while dumping $2.5 million into the 2021 dead money ledger (which, as of this writing, stands at $3,129,493).
Receiver Golden Tate
Tate, 32 years old, signed a four-year, $37.5 million deal with the Giants before the 2019 season and is currently set to be the Giants' second-highest cap number on the 2021 books.
Whether he was meant to be a "replacement" for Beckham or a stop-gap, it's probably fair to say that Tate has had a tumultuous tenure in New York that has included a league-imposed four-game suspension last year, some injuries, and, more recently, a drop in his production.
With all due respect to his wife, who recently went on a social media rant questioning why her husband never gets the ball despite getting open, one potential reason could very well be the sharp drop in Tate's YAC production, which has always been his bread-and-butter.
This season, Tate is averaging a dismal 3.0 yards after the catch, nearly half his usual season average. So while he might be getting open, that production would suggest he's not separating. And if that isn't proof enough, he's broken just one tackle in his 29 pass targets, another stat that suggests his game has been slowing down.
In particular, the performance metrics coupled with the ' likelihood of another young receiver being added, and it's hard to see the Giants retaining Tate.
If the Giants cut Tate before the start of the 2021 league year, they will save $6,147,061 while taking a $4,705,881 dead-money hit, unless they designate him as a post-June 1 transaction, at which point they'd increase their savings to $8.5 million with a $2,352,942 dead money hit being charged to their cap in each of 2021 and 2022.
Tackle Nate Solder
No one is going to fault Nate Solder for opting out of the season given the COVID-19 global pandemic and his family situation being of the high-risk category.
But in opting out, Solder's contract now tolls to 2021, meaning that instead of his contract ending in 2021 as was originally the plan, it will end in 2022.
From a cap perspective, that's not a good development. In 2021, Solder has a team-high $16.5 million cap hit on the books, a figure way too high for a guy who is projected to be a backup offensive lineman assuming, of course, the Giants stick with Andrew Thomas.
To cut Solder that would result in a $6 million cap savings but a $10.5 million dead money charge. But if the Giants designate Solder as a post-June 1 transaction, as is expected to be the case, they'll save $10 million and be charged only $6.5 million in dead money against the 2021 cap and $4 million in dead money against the 2022 cap.
They can then take the savings from the Solder transaction, which would be available after June 1, and use that to sign their 2021 draft class.
Tight End Levine Toilolo
This off-season signing from the 49ers has barely made a blip on the radar. Not only has his blocking been shaky, but he also doesn't contribute much in the passing game either.
Thankfully for the Giants, they structured his two-year contract to be more of a one-year deal, meaning that even though he's under contract for 2021, if the Giants cut him, they'll save $2.9 million and have no dead money hit their 2021 cap.
