New York Giants Free Agency Contracts: Full Breakdown of Values and Spending

Determined to build a playoff-caliber roster, the New York Giants have actively targeted key additions, strategically maximizing their available cap space.

The answer to the question of how much cap space the Giants actually have for other moves won’t be answered for a while, as the cap is fluid during this time of year and will continue to be so for at least the rest of the month.

Some new contracts include an "injury waiver."

An injury waiver is not the same as a "waived/injured" designation. A pre-signed injury waiver means the team does not have to pay an injury settlement if a player is waived for an existing injury when the contract was signed.

An injury waiver differs from a waiver/injury in that when a player is waived/injured, he is owed an injury settlement designed to pay him for the time he's expected to miss due to the injury. That settlement, usually a percentage of the player's base salary, counts against the cap.

A pre-signed injury waiver is typically given to players who are "at-risk" for injury. So, for example, in the case of tight end Chris Manhertz, who last spring dealt with an undisclosed injury that cost him OTA practice time, if he were to re-aggravate that injury, the Giants are not obligated to pay any money otherwise guaranteed due to an injury (i.e., an injury settlement).

Another mechanism that has popped up is a per-game active roster bonus. Usually, this is given to a player coming off any kind of significant injury, but it's actually a smart mechanism to include because if a player is inactive for a game and has this bonus, the team gets a cap credit to be used elsewhere that year (or if coming at the end of the year, it can be carried over).

Tremaine Edmunds and Isaiah Likely are two such players who have this included in their respective contracts.

Let's go break down all the finalized contracts. (Contract data compiled from multiple sources, including Spotrac, Over the Cap, and our own sources.)

We will update as more signings or contract details are available.

Click to See a Specific Contract

WR/KR/PR Gunner Olszewski
K Jason Sanders
RB Devin Singletary (Restructure)
RT Jermaine Eluemunor
FB Patrick Ricard
TE Chris Manhertz
LB Micah McFadden
WR Isaiah Hodgins
OL Evan Neal
WR Calvin Austin III
TE Isaiah Likely
LB Tremaine Edmunds
P Jordan Stout
DB Ar’Darius Washington
CB Greg Newsome II
CB Nic Jones
LB Zaire Barnes
Aaron Stinnie
OL Joshua Ezeudu

WR/KR/PR Gunner Olszewski

New York Giants wide receiver Gunner Olszewski | Vincent Carchietta-Imagn Images

Length: 1 Year
Total: $1.402 million
Signing Bonus: $100,000
Guaranteed Money: $300,000
P5 Salary: $1.215 million
2026 Cap Hit: $1.262 million

Olszewski's deal is a veteran salary benefit contract, meaning it doesn’t count for the full amount under the cap.

K Jason Sanders

Place kicker Jason Sanders | Kevin Ng-Imagn Images

Length: 1 Year
Total: $1.425 million
Signing Bonus: $100,000
Guaranteed Money: $300,000
P5 Salary: $1.3 million
2026 Cap Hit: $1.2 million

Sanders gets a veteran salary benefit deal which will not count fully against the 2026 cap and will have minimal dead money if he doesn't make the roster.

RB Devin Singletary (Restructure)

Jan 4, 2026; East Rutherford, New Jersey, USA; New York Giants running back Devin Singletary (26) rushes and is tackled by Dallas Cowboys defensive end Sam Williams (54) during the fourth quarter at MetLife Stadium. | Vincent Carchietta-Imagn Images

P5 Salary: $1.3 million
2026 Cap Hit: $2.55 million

Singletary’s restructured deal has some incentives for him to make back $1 million of the money he agreed to give up. According to Spotrac, Singletary, in 2025, had the following incentives, none of which he reached:

1,110 yards from scrimmage: $125,000
1,200 yards from scrimmage: $250,000
1,300 yards from scrimmage: $250,000
56% Snaps: $125,000
66% Snaps: 250,000

RT Jermaine Eluemunor

New York Giants offensive tackle Jermaine Eluemunor | David Banks-Imagn Images

Length: 3 Years
Total: $39 million
Signing Bonus: $12 million
Guaranteed Money: $25.45 million
P5 Salaries: $1.3 million (2026 fully guaranteed), $12.4 million (2027, $12.15 million guaranteed), $11.35 million (2028)
Per Game Active Roster Bonus: $26,471($450,007 total)
Workout Bonus: $200,000 per year
2026 Cap Hit: $5.95 million

Eluemunor's new deal comes to an APY of $13 million per year, which is a $6 million APY increase from the two-year deal he signed to come to the Giants back in 2024. Eluemunor has been more than worth the investment made in him.

FB Patrick Ricard

Fullback Patrick Ricard | Kirby Lee-Imagn Images

Length: 2 Years
Total: $7.63 million
Signing Bonus: $2.2 million
Guaranteed Money: $3.54 million
P5 Salaries: $1.34 million (2026, fully guaranteed), $2.34 million (2027)
Roster Bonus: $750,00 (due on fifth day of 2027 league year)
Active Game Roster Bonus: $23,529/game
Workout Bonus: $100,000 per year
Playtime Incentives: $450,000 max
2026 Cap Hit: $2.8 million
2027 Cap Hit: $4.55 million

Ricard figures to be a big part of the Giants new power rushing game. He is now the highest paid fullback in the league based on total contract value, having passed Kyle Juszcyk of the 49ers' $7.5 million deal.

TE Chris Manhertz

Dec 14, 2025; East Rutherford, New Jersey, USA; New York Giants tight end Chris Manhertz (85) catches the ball during warm ups before the game against the Washington Commanders at MetLife Stadium. | Vincent Carchietta-Imagn Images

Length: 1 Years
Total: $1.487 million
Signing Bonus: $1.3 million
Guaranteed Money: $262,500
2026 Cap Hit: $1.262 million

Manhertz's deal is a veteran salary benefit, so it's not going to fully count against the cap. The deal also has injury waivers.

LB Micah McFadden

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

Length: 1 Year
Total: $3.75 million
Signing Bonus: $1.5 million
Guaranteed Money: $2.9 million
P5 Salary: $1.4 million (fully guaranteed)
Active Roster Bonus: $44,117/game ($750,000 total)
Playtime Incentives: $2 million

We're kind of surprised that the Giants didn't take advantage of the “four-year qualifying contract” provision, which, per Article 27, Section 7 of the CBA,would make McFadden eligible for a $2.8 million contract that would only count for $1.2 million against the cap under the provision.

Still this is a nice deal for McFadden as he attempts to re-establish his worth. He can max out at $5.75 million if he hits all the incentives.

WR Isaiah Hodgins

New York Giants wide receiver Isaiah Hodgins | Kirby Lee-Imagn Images

Hodgins gets a one-year veteran salary benefit deal with no guaranteed money. If he doesn't make the roster, he won't count against the dead money ledger.

Length: 1 Year
Total: $1.215 million
No Signing Bonus
Cap Hit: $1.1 million

OL Evan Neal

New York Giants offensive lineman Evan Neal | Vincent Carchietta-Imagn Images

Length: 1 Year
Total: $1.215 million
No Signing Bonus
No guaranteed money
Cap Hit: $1.075 million

In what should without question be the last chance for Neal to make it with the Giants and the NFL, he will attempt to do so on a veteran salary benefit deal that also has an injury waiver attached to it and which has no guaranteed money.

WR Calvin Austin III

Wide receiver Calvin Austin III | Kirby Lee-Imagn Images

Length: 1 Year
Total: $1.5 million
Signing Bonus: $250,000
Guaranteed: $450,000
Workout Bonus: $50,000
Cap Hit: $1.5 million
Incentives: Up to $3 million

Austin's deal might very well be one of the steals by the Giants during this free agency period. If he maxes out, he can add another $3 million to his earnings.

While there was no word on the incentives to help him earn that extra $3 million, Austin could potentially be looking at incentives tied into playing time, receptions, receiving yards, and touchdowns, all common incentives for a receiver.

TE Isaiah Likely

Tight end Isaiah Likely | Peter Casey-Imagn Images

Length: 3 Years
Total: $40 million
Signing Bonus: $12.5 million ($4.166 million per year prorated)
P5 Salaries: $1.35 million (2026), $12.85 million (2027; $6.65 million guaranteed), $10.65 million (2028)
Roster Bonus: $700,000 (2028)
Workout Bonus: $200,000 per year
Per Game Roster Bonus: $21.799/game ($370,588 for 2026); $26,470 ($450,000 for 2027 and 2028)
$26 million guaranteed, $5.5 million guaranteed for injury
2026 Cap Hit: $6.087 million

Likely's deal is actually a two-year deal and, like many of the other major contracts handed out by the Giants, has per-game active roster bonuses, a smart mechanism, as this way if a player has to miss time, the Giants can get a cap credit, something they haven't been able to do of late.

LB Tremaine Edmunds

Linebacker Tremaine Edmunds | Joseph Maiorana-Imagn Images

Length: 3 Years
Total: $36 million
Signing Bonus: $11 million ($3.66 per year)
Guaranteed at Signing: $23.7 million
Workout Bonus: $200,000 per year
Per Game Roster Bonus: $20.242/game ($344,118 for 2026); $26,470 ($450,000 for 2027)
P5 Salaries: $1.35 million (2026), $11.85 million (2027; $11.3 million guaranteed), $9.85 million (2028)
2026 Cap Hit: $5.56 million

Edmund's deal is the richest of those the Giants handed out this year. The interesting thing about this contract is that he has two different per-game roster bonuses in the first two years of the deal, according to Spotrac. We discussed this briefly above, but it is certainly something to keep watch on moving forward.

P Jordan Stout

Punter Jordan Stout | Charles LeClaire-Imagn Images

Length: 3 Years
Total: $12.3 million
Signing Bonus: $3 million
Guaranteed Money: $7.32 million
Fully Guaranteed Money $6.32 million
Per Game Roster Bonus: $20,000 (max of $340,000)
Injury Guarantee: $1 million
P5 (base) Salaries: $1.215 million (2026), $3.105 million (2027), and $3.66 million (2028)
Cap Hits: $2.655 million (2026), $.545 million (2027), $5.1 million (2028)

Stout's $4.1 million APY makes him the league's highest-paid punter per year. Interestingly enough, the Giants included a $1 million injury guarantee in the deal. Hopefully, after what this team has gone through the last few years with its kickers and punters being injured, that doesn't have to be activated.

DB Ar’Darius Washington

Safety Ar'Darius Washington (29) | James Lang-Imagn Images

Length: 1 Year
P5 Base Salary: $1.9 million
Signing Bonus: $500,000
Total: $3 million
Guaranteed Money: $1.5 million
Per game roster bonus: $29,411 per game (up to $500,000)
Cap Hit: $2.617 million

Washington has only played one full season (2024) in his career, so the Giants are hedging their bets on his availability with the per-game roster bonus. For every game he is not active, that's a cap credit the Giants will get back.

CB Greg Newsome II

Cornerback Greg Newsome II | Doug Engle/Florida Times-Union / USA TODAY NETWORK via Imagn Images

Length: 1 Year
Total: $8 million
Signing Bonus: $3 million
P5 Salary: $4 million
Per Game Roster Bonus: $44,117 ($750,000 max)
Workout Bonus: $250,000
Incentives: up to $2 million

Newsome has a golden chance to stick around beyond the one-year term he's been given. His contract suggests he's getting starter's money to play on the outside, but this should not automatically disqualify the Giants from drafting another cornerback down the line in case things don't work out.

CB Nic Jones

New York Giants cornerback Nic Jones | John Jones-Imagn Images

Length: 1 Year
Total: up to $1.075 million
Note: Has an injury waiver

Jones, a special teams contributor for the Giants, had been an exclusive rights free agent. The Giants were not going to tender him $3+ minimum for right of first refusal.

LB Zaire Barnes

New York Giants linebacker Zaire Barnes celebrates during a Thursday Night Football game between the New York Giants and the Philadelphia Eagles at MetLife Stadium in East Rutherford on Oct. 9, 2025. | Julian Leshay Guadalupe/NorthJersey.com / USA TODAY NETWORK via Imagn Images

Length: 1 Year
Total: $1.175 million
P5 (Base) Salary: $1.075 million
Signing Bonus: $50,000
Workout Bonus: $50,000
Guaranteed: $250,000
Cap Hit: $1.175 million

Barnes was mainly a special teams contributor who was called upon to pinch hit on defense when injuries started piling up at inside linebacker.

Aaron Stinnie

Length: 1 Year
Total: $1.487 million
Signing Bous: $62,500
P5 Salary: $1.3 million
2026 Cap Hit: $1.262 million

Stinnie received a veteran salary benefit deal so his total deal won't fully count against the team's cap. The Giants were in desperate need of depth at guard, but this deal suggests that the drafting of an interior lineman is all but certain to be on the Giants' to do-list and that Stinnie is not guaranteed to make the 53-man roster, though given he's right now the top backup behind starting LG Jon Runyan, Stinnie's chances of sticking seem pretty good.

OL Joshua Ezeudu

New York Giants guard Joshua Ezeudu | Brad Penner-Imagn Images

Length: 1 Year
Total: TBD

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