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Entering the week, the New York Giants were surprisingly low on salary cap space. However, they managed to clear up a significant amount with a series of contract restructures — something that continued on Friday.
Following reworked deals for defensive backs Josh Jackson and Logan Ryan, and wide receiver Sterling Shepard, the Giants cleared an additional $1.6 million by restructuring the contract of defensive lineman Leonard Williams.
The Giants converted a total of $2.4 million of Williams’ base salary into a bonus.
More money matters: The #Giants converted $2.4 million of Leonard Williams’ salary into a bonus. It created $1.6M in cap space. They were tight against the cap entering this week.
— Jordan Raanan (@JordanRaanan) September 10, 2021
According to Over the Cap, the Giants now have just under $3.5 million in available cap space (accounting for the 53-man roster). They also have $13.3 million in dead cap space and $6.5 million on injured reserve.
Spotrac has slightly different numbers, listing the Giants with $2.58 million in salary cap space. The dead cap and IR numbers are similar.