Teams under real sal cap today-53players,IR, PSQD,,settlements, dead$$ all counts-more cuts. reneogiations,extensions today.
— Pat Kirwan (@PatKirwanCBS) September 4, 2013
All preseason we’ve known the Giants are just barely under the cap. However, today should be a day filled with re-negotiations, potential contract restructuring, and all kinds of reshuffling as the Giants are not quite under the cap yet and will have to make some moves today by 4pm EST.
According to this fantastic article from NY Cap Central,
“…the Giants are going to over the cap if they don’t make a move or two. The negative figure if $1,803,236 does not include additional cap space due to Andre Brown being placed on Temporary IR; his cap number will still count in full, but another player’s cap number will be added that will cost around $555,000 for the year.”
The other relevant thing about today’s deadline as pointed out by Curt Macysyn of the Examiner is the Giants have no room to sign any additional players at this point, so all those free agent running backs we’ve been looking at are just for browsing right now:
“…while various outlets state the G-men appear to have $3.2 to $3.3 million left under the cap, and with veterans like Kenny Phillips, Brandon Jacobs, Jonathan Dwyer and Willis McGahee as unsigned free agents, the fact is that currently New York has no money to ink any of these players, unless a current player or two restructures his contract.”
Right Guard Chris Snee, as the article points out, is the most logical place to restructure.
“Snee can give them give them as much $2.93 million more in cap space. His deal has two years left on it, and his base salary in 2013 is $6.7 million. Snee’s $6.7 million base can be reduced to as little as $840,000. That’s a $5.86 million difference. Divide that by two and you get the $2.93 million gain.”
Another possible place is punter Steve Weathorford as well. Eli Manning will not restructure again even though he has one of the highest cap hits in the league, and safety Antrel Rolle is another guy with a huge cap hit that has never agreed to restructure before, and likely won’t.
So Tom Coughlin’s son-in-law might be the best bet here, the Giants front office has a full day ahead of them to get under the cap by 4pm EST. It’s not the sexiest side of football, but it is important and shows how the Giants are constantly working behind the scenes to field a competitive team.