The New York Giants are shredded by injuries, tight on cap space, and spiraling out of control.
The Giants have the least cap space in the NFL
As things currently stand, the Giants have just $1.43 million in cap space — the least of any team in the NFL.
When a 1-4 team as bad as the Giants has less cap space than every other team, it begs the question, where is all this money going?
The easier question to answer, however, is where this money isn’t going. Well, it’s certainly not going into the receiving corps.
Giants’ lack of cap space is hurting them
The Giants lost Malik Nabers in Week 4 to a season-ending ACL tear. They did not make a single reinforcement at wide receiver to replace him heading into Week 5 — not even with a practice squad call-up.
This confusing decision ultimately stems from the team’s current financial hardship. They do not have the cap space to go out and sign a wide receiver on the free agency market, and even just elevating a player from their practice squad might be too difficult and too costly since they have under $2 million in cap space.
Giants general manager Joe Schoen did a sound job this offseason, adding new talent to the roster. However, his big spending has put his coaching staff in a mid-season pickle as they struggle to reinforce this roster amidst injuries.
There are several ways that Schoen can still create more cap space, but none of them are easy solutions. Releasing impact players would be a tough sell for a 1-4 team, and restructuring contracts could open up some money, but also leave the Giants’ long-term finances in shambles again.
But, nevertheless, the Giants need to figure something out, especially with WR Darius Slayton now hampered by a hamstring injury. Rolling with a starting receiver corps that features Wan’Dale Robinson, Jalin Hyatt, and Beaux Collins is unacceptable — especially when trying to develop a rookie quarterback.