Giants 2026 Cap Space Updates: How Much Was Cleared and What's Next?

"The Giants cleared 2026 salary cap space with extensions for Jameis Winston and Jon Runyan, plus the release of receiver Darius Slayton."

The New York Giants have cap space for 2026. | IMAGN IMAGES via Reuters Connect

The New York Giants, who were projected to be over the cap by about $1.3 million, have realigned their available cap space thanks to the pair of extensions they gave to guard Jon Runyan and quarterback Jameis Winston, and the release of receiver Darius Slayton.

According to Spotrac, the Giants gained $1.4 million in cap space on the Winston extension, a two-year, $13 million deal. Winston’s 2026 cap number will be $3.527 million; his numbers for the two new years of his extension will be $7.316 million and $7.166 million, with guaranteed money attached to each of the two new years. 

The Giants could exit the deal after the 2027 season, which would result in a $4.76 million savings and a $2.55 million dead money hit.

Runyan’s 2026 cap figure is estimated to have dropped from $11.75 million down to approximately $6.965 million thanks to his two-year, $22 million contract extension. His extension has guaranteed money in 2027 ($9.05 million, which is his entire base salary for that season). 

The Giants can end the Runyan deal without a massive dead money charge after the 2027 season, such a move resulting in an $11 million cap savings and just a $3 million dead money hit for the 2028 league year.

The release of Slayton, the team’s longest-tenured member, saved the Giants just over $3 million for this year, given that it’s a post-June 1 transaction. 

New York will have to eat a $12.999 million dead money charge, which is the second highest amount behind the $13.916 million dead money hit they took in the Dexter Lawrence trade.

In all, the Giants are projected to have $8.205 million in cap space, 21st in the league, and have seen their dead money swell to $41.643 million, 16th in the league.

What Will They Do With the Space?

The answer is nothing too exciting when it comes to extensions. The Giants historically like to carry around $10 million in cap space to accommodate practice squad elevations and in-season transactions, including those on the practice squad. 

They also use the cap space to sign guys to fill roster holes created by injuries.

The Giants, who were reportedly planning to sign veteran defensive lineman Dean Lowry last week, could be waiting for Week 2 to make any further signings beyond the standard Week 1 practice squad elevations.

That’s because any veterans signed before Week 1’s games will automatically have their entire salary counted against the team’s cap, regardless of whether that player is on the roster.

By waiting until Week 2, the Giants will have flexibility at the bottom of the roster to move guys on and off as they see fit.

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