Giants' 2026 Salary Cap Update: Devin Singletary's New Cap Number Revealed and More

Say whatever you will about New York Giants running back Devin Singletary, but the seven-year NFL veteran understands the business side of the game.

Singletary agreed to lower his 2026 base salary from $5 million to $1.345 million in order to stay with the Giants. He also has the opportunity to earn an additional $1 million through incentives built into the new agreement.

The $1.345 million represents the league minimum for a veteran with seven accrued seasons. It does not constitute a veteran minimum salary, however, and Singletary’s full amount ($1.345 million base salary, $250,000 workout bonus, and the $1.25 million prorated part of his signing bonus) will count toward the Giants’ 2026 cap, his total figure dropping from $6.5 million to $2.845 million, a $3.655 million savings.

By restructuring Singletary’s contract, the Giants save around $3.95 million on their 2026 salary cap. Singletary, currently projected as the third running back on the depth chart, also stands to collect a $250,000 workout bonus.

The Giants are estimated to have about $17.9 million in cap space, pending confirmation of Gunner Olszewski's deal, which is believed to be for the veteran minimum.

Micah McFadden Note

Jul 23, 2025; East Rutherford, NJ, USA; New York Giants linebacker Micah McFadden (41) on the field during training camp at Quest Diagnostics Training Center. | Vincent Carchietta-Imagn Images

Kudos to Dan Duggan of The Athletic for uncovering a seldom-used tender for players with four years of experience called the “Four-Year Player Qualifying Contract.”

McFadden, as is well known, is coming off a season-ending injury that wiped out the final season of his rookie deal.

Rather than give him a veteran minimum deal to return, the Four-Year Player Qualifying Contract (Article 27, Section 7) allows for a team to give up to two players with “four or more years of continuous, uninterrupted service with that Club (i.e., the player must have been under contract to that Club and on that Club’s 90-player roster for the immediately prior four or more consecutive League Years without interruption prior to the contract’s expiration” a chance to sign a one-year deal for “up to $1.25 million more than the applicable minimum Active/Inactive List Salary for a player with the Four-Year Qualifying Player’s number of Credited Seasons.”

A four-year veteran's minimum base salary is $1.26 million. If the Giants used this option to re-sign McFadden, his base would rise to $2.51 million. (Think of it as sort of a consolation since the player’s market value was undoubtedly hurt due to his early-season-ending injury.)

So what would this mean for the salary cap, and what amount would actually be counted against it?

Article 27, Section 8 states, “the Salary Cap count for a Four-Year Player Qualifying Contract shall equal the minimum Active/Inactive List Salary for a player with the Four-Year Qualifying Player’s number of Credited Seasons.”

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