New York Giants Adjust Receiver Sterling Shepard's 2021 Cap Figure
New York Giants wide receiver Sterling Shepard is the latest premium-priced veteran to agree to a cap maneuver in which a large part of his base salary was converted to an upfront bonus to create salary-cap space for the team.
Per ESPN's Field Yates, the Giants converted $5.985 million of Shepard's 2021 base salary to create almost $4 million of cap space. Shepard was originally scheduled to earn a $6.975 million base salary this year.
The conversion drops Shepard's base salary to $990,000, which is the minimum amount a player with Shepard's accrued years of experience must be assured.
The converted money now turns into a prorated amount of $1.995 million added each year to the remaining life of the contract. Shepard is signed through 2023.
This year was the final one in which Shepard's 2019 contract extension called for guaranteed money. According to Over the cap, $4.025 million of Shepard's original $5.985 million base salary became fully guaranteed in March.
Shepard, a second-round draft pick in 2016 out of Oklahoma, is the longest-tenured member of the Giants team.
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