Giants Restructure ILB Bobby Okereke’s Contract

The move opens $4.5 million in cap space.

Jul 25, 2024; East Rutherford, NY, USA; New York Giants inside linebacker Bobby Okereke (58) gives an interview after training camp at Quest Diagnostics Training Center. | Lucas Boland-Imagn Images

According to ESPN's Field Yates, the New York Giants have restructured inside linebacker Bobby Okereke’s contract to open an additional $4.5 million in cap space for this year.

Just as they did on the doorstep of last regular season, the Giants have restructured the contract of LB Bobby Okereke, creating $4.5M in 2024 cap space.
— Field Yates (@FieldYates) September 5, 2024

Okereke was due to have a base salary of $7.9 million this year and carries a cap figure of $11.205 million, the fifth-highest on the team. He also had his contract restructured at the start of last season.

Prior to the restructure, the Giants, per Over the Cap, were sitting with just $2.087 million in cap space, 31st in the league. That figure takes into account the end of the Top-51 rule in which all 53 men on the roster, plus the practice squad and reserve list players, all of whom will chip away at the $10.+ million the Giants had at the end of training camp.

The extra money gained from the Okereke contract gives them an estimated $6.587 million in cap space, which would still have them in the bottom half of the league but would give them some breathing room to make roster upgrades as necessary and to elevate standard practice squads.

The Giants also have an incoming roster move coming after cutting linebacker Carter Coughlin, but it’s unlikely that move will be a splash one.