The New York Giants have reached a fascinating—and potentially ruthless—inflection point under the new John Harbaugh regime. Entering the 2026 offseason with a suffocatingly tight cap sheet and a roster in need of a multi-position overhaul, general manager Joe Schoen and Harbaugh have to decide which foundational pieces are actually luxury items.
With Brian Burns locked into a massive deal and rookie sensation Abdul Carter looking like a force on the edge, Kayvon Thibodeaux has suddenly become the odd man out in the pass-rush rotation.
If the Giants want to re-sign cornerstone pieces like Jermaine Eluemunor, they need a massive influx of cash—and trading Thibodeaux is the fastest way to get it.
Trade Kayvon Thibodeaux? The $14.75 Million Question
The financial incentive to move Thibodeaux is staggering. Because the Giants exercised his fifth-year option, he carries a $14.75 million cap hit for 2026.
However, per Over The Cap, because that salary is a non-prorated option, a trade would allow the Giants to offload the entire $14.75 million figure to the acquiring team, leaving behind zero dead cap. The Giants currently have just $1.8 million in 2026 cap space.
In a world where the Giants are currently projected to have less than $10 million in functional cap space, clearing nearly $15 million in one transaction might be necessary to address the gaping holes in the secondary and the interior offensive line.
The Giants Have Depth on the Edge
From a purely football perspective, Thibodeaux’s value to this specific roster has diminished. After a 2024 season hampered by a wrist injury and another injury-riddled 2025 campaign where his sack totals dipped to just 2.5 through his first ten games, he has been overshadowed by the elite tandem of Brian Burns and Abdul Carter.
Carter, the No. 3 overall pick in 2025, has already proven to be the high-ceiling superstar the Giants hoped Thibodeaux would be. With Harbaugh’s history of utilizing deep rotations, having a $14 million third pass rusher is a luxury the Giants can no longer afford when they rank near the bottom of the league in available cap space.
The “Sell High” Window is Closing
The reality of the NFL is that draft pedigree only carries a player so far. Thibodeaux is still only 25 years old and carries the former top-five pick label, which could likely fetch the Giants a Day 2 draft pick from a team like the 49ers or Packers looking for a reclamation project.
However, waiting until mid-season risks his trade value plummeting further if his production doesn’t rebound. By trading him this offseason, the Giants skip the headache of a massive $100M extension negotiation and gain the flexibility needed to build the depth Harbaugh craves.
It’s a tough pill for some fans to swallow, but moving on from No. 5 might be a necessary move for the 2026 Giants to get cap healthy again.