Heading into this offseason, the New York Giants had a ton of work to do to get under the NFL’s $206.6 million salary cap for 2022.
They released a slew of players, renegotiated the salaries of others and that gave them the financial latitude to sign some useful free agents to low-level deals.
But they are still in financial dire straits as the 2022 NFL draft approaches. The Giants have the worst cap situation in the NFL right now with just $737K in available cap space.
Following the early wave of free agency, a look at where all 32 NFL teams officially stand in terms of cap space, from the Panthers to the Giants. pic.twitter.com/rOBNzOb5IJ
— Field Yates (@FieldYates) March 31, 2022
That’s still a long way away from where they need to be to sign their 2022 draft class — about $16 million short of where they’ll have to be.
Projected Top 51 #NFL Draft Pools
1. #Jets, $18.3M
2. #Giants, $16.2M
3. #Texans, $14.7M
4. #Lions, $13.4M
5. #Jaguars, $12.7MFull List: https://t.co/L9h6majGCj
— Spotrac (@spotrac) March 30, 2022
Of course, they can recapture a huge chunk of cap space by trading Saquon Barkley and releasing/trading cornerback James Bradberry. That could still happen, but still might not get them there.
They can, however, deal one of their first round picks, which will reduce their cap requirement. The 5th overall selection projects a first year cap hit of $6.3 million while the 7th overall pick is around $5 million.
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