New York Giants general manager Joe Schoen continued working toward salary cap comfort this weekend, restructuring the deals of both nose tackle Dexter Lawrence and linebacker Bobby Okereke.
Following his long-term contract extension this offseason, Sexy Dexy was slated to earn a $2.25 million base salary with a cap hit of $6.65 million in 2023.
Okereke, who signed a four-year deal with the Giants, was on the books for $1.9 million in base salary and a $5 million cap hit this season.
In both cases, Schoen converted the remaining available base salary into bonuses. The moves clears up roughly $1.55 million in additional cap space for the Giants.
The Giants are converting the remaining available base salary of LB Bobby Okereke and DT Dexter Lawrence to a signing bonus. It creates an additional $1.55 million in cap space.
Lawrence’s base salary is currently $2.25 million. Okereke is at $1.9 million. A standard conversion… pic.twitter.com/Ppo8HwC3oN
— Jordan Raanan (@JordanRaanan) September 9, 2023
As ESPN’s Jordan Raanan notes, both Lawrence and Okereke will carry the minimum base salary of $1.08 million.
The Giants and Schoen also restructured the brand new contract of quarterback Daniel Jones earlier this week, clearing over $6.3 million in cap space.
With the latest restructures, the Giants are just shy of $3 million in available cap space. They’ll still need more to operate throughout the season, so expect Schoen to continue dabbling in the coming days and weeks.
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