The New York Giants are looking to trade some of their 2022 NFL draft capital — specifically, one of their two first round picks — for 2023 NFL draft capital.
That was the report by Peter King of Football Morning in America on Monday.
The Giants, picking fifth and seventh overall, are likely to look to move one of them to try for multiple first-rounders next year.
Ralph Vacchiano of SNY confirmed that report on Thursday, noting that the Giants are specifically seeking a package that includes, but is not necessarily limited to, a 2023 first round pick.
According to multiple NFL sources, the Giants have signaled they are open to trading either the 5th or 7th overall pick in this years draft for a package that includes a first-rounder in 2023. And the more teams that are seeking quarterbacks, the more likely it is that they can.
As it turns out however, that may not be the only reason the Giants and general manager Joe Schoen look to trade down in the first round or out of it all together.
Currently, the Giants have only $3.1 million in salary cap space and will need upwards of $12.5 million to spend on their 2022 NFL draft class — assuming they use all nine picks. And given the rates of pay for the fifth and seventh overall selections (specific to position), New York may not be able to afford those picks.
As for the Giants, there are multiple reasons why they’re interested in trading down, according to sources, one being financial complications. They have nine picks in this year’s draft, which will cost them about $12.5 million in salary cap space, according to OverTheCap.com.
That’s a problem considering they are currently only about $3 million under the $208.2 million cap, according to NFL Players Association records. Even if they eventually trade cornerback James Bradberry, that would only clear another $12.1 million off the books – less if they have to pay some of his salary to make a deal.
Trading the 7th overall pick to a quarterback-needy team like the Saints and dropping to 18, for example, would save almost $2.2 million in cap space. They’d clear more than $5 million if they traded away that pick and didn’t get a first-round pick this year in return – which is something one source said the Giants might be willing to do.
The Giants being forced to move out of a prime draft slot because of financial issues would be the fitting final “gift” from the Dave Gettleman era. What an absolutely disastrous scenario.
On the bright side, it may all work out in Schoen’s favor. The Giants do not seem keen on drafting a quarterback this year and the 2023 draft class promises to be deeper. If they can trade one of their two first round picks for stock in next April’s draft, they’ll have maximized the value of an otherwise negative situation.
But that would still be a gamble. There’s no guarantee that any acquired first-round pick in 2023 would be among the top-10 or hold the same value the No. 5 and No. 7 picks currently do.
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