Higher Salary Cap Number Should Help Giants with Free Agency

NFL general managers across the league were undoubtedly celebrating the news of the unprecedented higher salary cap announced Friday as $255.4 million. It gives teams over $10 million more than initially projected and can potentially change some business decisions that teams might have been mulling over.

That includes the New York Giants, who, according to Over the Cap, saw their effective cap space (defined as the cap space a team will have after signing at least 51 players and its projected rookie class to its roster) rise to $22,999,424 and their total cap space to $30,801,691.

The Giants are still anticipated to add to their cap space total. Terminating offensive lineman Mark Glowinski's contract would add another $5,682,353 to the pot, and potentially restructuring one of left tackle Andrew Thomas, interior defensive lineman Dexter Lawrence, or inside linebacker Bobby Okereke would easily bring the Giants close to, if not over $40 million in cap space (depending on who gets restructured), a healthy amount to work with in filling some of the pressing needs.

How does the added money help the Giants fill their needs? Free agency is the biggest and most obvious place to start. Of their 29 pending unrestricted free agents, running back Saquon Barkley, safety Xavier McKinney, receiver/punt returner Gunner Olszewski, long snapper Casey Kreiter, and inside linebacker Isaiah Simmons figure to be the ones most likely to get offers to return.

Of those, McKinney (assuming the Giants want him back) is the only one with the potential to break the bank.

Otherwise, it is anticipated that the Giants will need to go outside their doors for free agency help in at least two, if not three, potential areas: offensive line, backup quarterback, and edge rusher.

Offensive Line

The offensive line is a no-brainer and is a unit that one would think the Giants want to be able to hit the ground running regardless of who the quarterback ends up being.

While there might be a temptation to draft at this position (and that very well could still happen, though we think it won't be within the first two rounds), adding experienced veterans to the mix is the best way to instantly upgrade the efficiency of a unit that last year was party to 85 sacks, second most in NFL history since sacks became a tracked stat.

Jermaine Eluemunor would be a nice addition as a potential swing tackle. Eluemunor, who has ties to new Giants offensive line coach Carmen Bricillo, played for the Raiders last year on a one-year, $3 million contract and could be an affordable addition to a unit that desperately needs some depth at tackle.

Mike Onwenu of the Patriots is another potential target that the added cap space might help with. Onwenu has guard/tackle flexibility, and it just so happens that the Giants have their starting guard positions open for competition.

If Bricillo thinks current right tackle Evan Neal would benefit from a move to left guard, Onwenu could step right in at right tackle. If not, he could step in at right guard, the side where he's had most of his career snaps at guard.

Spotrac projects a four-year, $54,571,918 contract ($13,642,980 APY) for the 26-year-old Onwenu. Considering Onwenu's value to a team, New York should do whatever it takes to convince the offensive lineman to join their squad, even if it means pushing a few extra dollars his way.

Quarterback

Backup quarterback is another position the Giants need to address. General manager Joe Schoen said at the end of last season that he wasn't ruling out re-signing Tyrod Taylor. Still, if you're the Giants, you might want to go with a guy who, if he has to step in for Daniel Jones (of whom Schoen said, "the expectation" was for Jones to start when healthy again) isn't someone who is going to get dinged as Taylor has in his two seasons with the Giants.

Ryan Tannehill of the Titans (81-70 career record as a starter) would be a good place to start. With a projected market value of one year for $4,967,594 (we'd probably go at least two years on a play-time incentive-loaded contract, similar to what Taylor received when he signed with the Giants), Tannehill would potentially give the Giants what they want in a backup quarterback: someone who, if called upon, has a history of going in there and winning games.

The Giants probably won't want to go too crazy cost-wise at quarterback, mainly because they do have Daniel Jones on a $47.105 million figure, the highest on the team and a figure that represents 18.3 percent of the team's total salary cap liabilities for 2024.

But as they also hopefully learned from a couple of years ago when they tried to cut corners at the position and ended up with Jake Fromm and Mike Glennon, getting a veteran who has a winning track record as a starter has to take precedence, even if it means adding to the league's seventh highest investment in the position ($48 million for two players under contract, Jones and Tommy DeVito).

Edge Rusher

Edge rusher figures to be among the most costly acquisitions the team could make, but again, with the extra cash available, every little bit helps. A high-end rusher like Carolina's Brian Burns, who in four seasons has never had fewer than 7.5 sacks or 16 quarterback hits, has a projected market value of $108,745,63 for a five-year deal ($21,749,127), an amount which might be too rich for the Giants taste if they still believe they can salvage something with oft-injured Azeez Ojulari lined up along with Kayvon Thibodeaux.

A more affordable option could be Chase Young of the 49ers, the same Chase Young some fans wanted the Giants to select in the 2020 draft when New York instead went with franchise left tackle Andrew Thomas. Spotrac projects a one-year, $13 million market value for Young. Still, again, we'd probably look at doing at least a two-year deal given that Ojulari is entering the final year of his rookie contract this coming season.

Titans pass rusher Denico Autry is another name to consider, not only because new defensive coordinator Shane Bowen is familiar with him but also because he's been highly productive of late despite being on the other side of 30.

Autry, who in the last four seasons (including one with the Colts) has upped his sack total--he hit double digits with 11.0 last season-- just finished a three-year, $21.5 million contract with the Titans. Having played inside and outside, his versatility and veteran leadership would no doubt be a welcomed addition to the Giant's defense.

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