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New York Giants Adjust Receiver Sterling Shepard's 2021 Cap Figure

The Giants continue their game of cap gymnastics in an attempt to get into compliance with the league-wide cap before the expiration of the Top-51 rule.
Patricia Traina|
New York Giants Adjust Receiver Sterling Shepard's 2021 Cap Figure
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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Patricia Traina
PATRICIA TRAINA

Patricia Traina has covered the New York Giants for 30+ seasons, and her work has appeared in multiple media outlets, including The Athletic, Forbes, Bleacher Report, and the Sports Illustrated media group. As a credentialed New York Giants press corps member, Patricia has also covered five Super Bowls (three featuring the Giants), the annual NFL draft, and the NFL Scouting Combine. She is the author of The Big 50: The Men and Moments that Made the New York Giants. In addition to her work with New York Giants On SI, Patricia hosts the Locked On Giants podcast. Patricia is also a member of the Pro Football Writers of America and the Football Writers Association of America.

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