Giants' David Diehl takes massive pay cut
Diehl will make $1 million this season, down from the $4.475 million he was scheduled to make. This allows the team to clear salary cap space.
From the Daily News report:
As part of the “restructuring” the Giants also guaranteed $200,000 of his $1 million salary, essentially turning it into a bonus. The pay cut also lowers Diehl’s salary cap number from $6,903,125 to $3,428,125 – clearing a much-needed $3.475 million in room for the Giants under the NFL’s $123 million salary cap.