Where the Giants Stand Following Announcement of 2022 NFL Salary Cap Ceiling
The NFL and the NFLPA have agreed to a $208.2 million salary cap ceiling for the 2022 league year, per a report by the NFL Network.
If the league hits that ceiling, it will represent a $25.7 million increase from the $182.5-million floor that was set this year, thanks to the economic losses related to the global pandemic.
That could be good news for the New York Giants, a team that went on an uncharacteristic free-agency spending spree in 2021.
Four of the Giants' largest multi-year contracts--defensive lineman Leonard Williams, tight end Kyle Rudolph, receiver Kenny Golladay, and cornerback Adoree' Jackson--all came in with low first-year numbers, but each is projected to more than double next year.
According to Over the Cap, the Giants currently have $202,152,801 committed to contracts in 2022.
If the league reaches the projected 2022 salary cap floor of $208.2 million, the Giants are projected to have $6.1 million in cap space--and that's before they do any in-season spending this year, which will cause their actual space to fluctuate.
The NFL has been cautiously optimistic of having full stadiums return in the fall, especially as state governments have begun easing restrictions on indoor and outdoor crowd capacity limits in response to declining COVID-19 hospitalizations and new cases thanks to the rollout of the vaccine.
The good news for teams like the Giants, who currently figure to be squeezed under the 2022 cap, is that they can get back some of the money committed to Veteran Salary Benefit (VSB) deals and to those contracts where minimal to no guaranteed/signing bonus money is involved if those players don't make the 53-man roster.
Currently, the Top-51 rule is in effect league-wide, which means only the top-51 highest salary cap figures count toward a team's cap liabilities. The Top-51 rule expires before the Week 1 regular-season opener.
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