Where Giants Stand Ahead of the Start of the Free Agency Negotiating Window

Fasten your seatbelts because the New York Giants' upcoming foray into free agency is bound to be one lined with a lot of mixed emotions.

Free agency officially doesn't get underway until 4:00 p.m. ET on Wednesday, March 17, when the results of all the legal tampering that occurred starting Monday, March 15 at noon, become known.

How big of a player will the Giants be in free agency, and will they be able to land any of their rumored top targets like receiver Kenny Golladay and edge rusher Haason Reddick? 

Before we see where things stand with the Giants, please remember that contracts aren’t official until a signature is on the dotted line and that things change rapidly over the course of hours, let alone days.

Let’s reassess where the Giants are by answering some key questions.

What is the Giants' Salary Cap Situation?

As of Monday, March 15 at 10 a.m. ET, Over the Cap has the Giants with $2,491,994 in salary cap space. That total does not include any cap savings gained from the reported negotiations with offensive tackle Nate Solder, which is expected to open up a nice chunk of space. That cap space total does include the franchise tag for defensive lineman Leonard Williams.

How Can the Giants Create More Space?

In addition to Solder, who is expected to take a deep pay cut to lower his $9.9 million base salary, the Giants could also look to extend the contract of safety Jabrill Peppers, who is due to count for $6.7 million on the option year of his rookie deal.

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Although general manager Dave Gettleman sounded lukewarm to the possibility of restructuring deals because that kicks the can down the road, it might behoove him to look at restructuring/extending one or both of inside linebacker Blake Martinez and cornerback James Bradberry, two players that presumably have long-term futures here.

What the Giants Need

Offensive playmakers, specifically a big-bodied No. 1 receiver capable of winning contested catches, drawing double coverage, and giving third-year quarterback Daniel Jones a nice big target. They could also use a pass rusher since Kyler Fackrell is set to be a free agent and the developments of Lorenzo Carter and Oshane Ximines stunted.

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They would love to bring back both Dalvin Tomlinson and Leonard Williams, but that might not be possible as long as Williams has that cap-choking franchise tag on him.

The Giants could also use some additional depth at cornerback, running back, offensive line, inside linebacker, and safety.

Who the Giants May Lose

Don’t expect the Giants to keep most of their free agents, as most of them are depth players who can be replaced. Two names looming as potential losses include defensive tackle Dalvin Tomlinson and running back Wayne Gallman.

Gallman, who last year proved he could be more of an equal partner in a running game than a spot reliever, is believed to be seeking the partnership role with a team with a price tag to match.

Tomlinson, who has always kept an open mind about returning to the Giants, will probably fetch a hefty payday on the open market that the Giants, given their cap space struggles and other needs, might not be able to match.

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In addition to the names mentioned above, the Giants have the following unrestricted free agents: Edge Kyler Fackrell, OT Cameron Fleming, QB Colt McCoy, G/C Spencer Pulley, S Nate Ebner, RB Dion Lewis, IDL Austin Johnson, Edge Jabaal Sheard, RB Alfred Morris, LS Casey Kreiter, and DB Adrian Colbert.

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Outlook

Don’t expect the Giants to make a huge splash on outside free agents in the way they did last year, especially if the franchise tag sits on Leonard Williams beyond Wednesday.

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That doesn’t mean, though, that the Giants can’t get some quality players at a lower rate to help them out in areas of need; in fact, that might very well be the Giants approach this year given the cap issues.

Fasten your seatbelts, Giants Country members, as it’s going to be a bumpy yet interesting ride ahead.