This won’t be Giants’ last move to create cap room
In need of salary cap relief after a spate of free agent signings, the New York Giants have reportedly restructured the contract of star defensive tackle Dexter Lawrence.
Lawrence signed a four-year extension worth $90 million last season.
The restructure reportedly converts $10 million of Lawrence’s $16 million 2024 base salary into a signing bonus. For accounting purposes, that signing bonus will be spread over the remaining four years of the contract, creating $7.5 million in cap space for the 2024 season.
Per the NFLPA Public Salary Cap Report, the Giants entered Thursday with just $2.501 million left under the $255.4 million 2024 cap.
The Giants’ rookie class is expected to take up $6.643 million in cap space. The most likely candidates for restructure would appear to be Andrew Thomas, who signed a five-year, $117.5 million contract extension last season, and Bobby Okereke, entering the second year of his four-year, $40 million deal. The Giants could also get $6.7 million in cap relief if tight end Darren Waller retires.