Giants Reportedly Want Sterling Shepard to Take Deep Pay Cut

New York is trying to find a way to keep its longest-tenured player while also reducing his cap hit for 2022.

Author:
Patricia Traina
Publish date:
Mar 3, 2022 8:18 PM EST

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According to a report by the New York Post, Giants general manager Joe Schoen has offered a pay cut to wide receiver Sterling Shepard, the longest-tenured member of the Giants, and a player who, late last season, suffered a torn Achilles. That injury puts his availability for training camp and the start of the 2022 season in jeopardy.

Shepard has two years remaining on the five-year, $41 million contract extension he signed in 2019, but no more guaranteed money owed.

The Post reports that under the terms of the proposed salary cut, the team would void out the final year of Shepard's contract in 2023 and slash his $8.475 million base salary due this year as close as possible to the league minimum for a player commensurate with Shepard's accrued experience ($1.035 million).

The voidable year would allow Shepard, who turns 30 in 2023, to seek a new contract at market value.

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Shepard currently carries a $12.495 million cap charge into the 2022 season. He last played a full season in 2018, but since then has missed 20 games over the last three years due to various injuries, including a hamstring that cost him several games mid-year last season and the aforementioned Achilles injury that ended his season prematurely.

Still, Shepard has been one of the Giants' most reliable receivers in action. Last year, he had 36 catches for 366 yards and one touchdown in seven games. He has caught 349 passes out of 522 targets for 3,884 yards and 21 touchdowns for his career.

The Giants need to get their salary cap in order ahead of March 16, the start of the new league year. Already the team shaved $7.2 million from their cap with the release of tight end Kyle Rudolph and running back Devontae Booker.

There is also a report that, in addition to Shepard, the Giants have approached inside linebacker Blake Martinez, who missed most of last year with a torn ACL, about a pay cut structured similar to the proposed set of what Shepard is reportedly mulling.