Ways for the Giants to create additional salary cap space for the upcoming offseason and free agency.

For the New York Giants to enhance their chances of making the playoffs in 2024, active participation in free agency is essential. Despite having a commendable $27 million in available cap space, as reported by Spotrac, the Giants need to make adjustments to their existing player contracts for more flexibility in signing free agents.

Creating additional salary cap space poses a challenge, but General Manager Joe Schoen has a couple of viable options at his disposal for the New York Giants. The team can explore two main avenues to increase their cap flexibility this offseason.

In 2022, the New York Giants inked a three-year, $18 million contract with veteran offensive guard Mark Glowinski. However, his performance in 2023 was far from satisfactory. The 32-year-old struggled, allowing six sacks and committing four penalties, earning a subpar Pro Football Focus (PFF) grade of 64.8.

Glowinski’s subpar play led to a reduction in his playing time early in the season. Despite having occasional solid performances, the overall poor showing of the offensive line overshadowed these moments throughout the season.

Furthermore, Glowinski’s individual performance failed to justify the terms of his contract, making it highly probable that the New York Giants will release him during the offseason to alleviate their financial commitments. Glowinski has been identified as the “most obvious” cut candidate for the Giants heading into the offseason. This move would result in a significant cap space savings of approximately $5.68 million. The team is expected to allocate some of these funds towards signing a seasoned offensive lineman, aiming to bolster the unit for the upcoming season.

Andrew Thomas is poised to commence play under a record-breaking five-year, $117.5 million contract starting the upcoming season, featuring a potential opt-out option in 2027. Given his standing as one of the premier players in his position, the substantial contract is well-deserved. The extension guarantees Thomas $67 million and spans through 2026, with a cap hit of $23.2 million in the upcoming season. The New York Giants have the option to restructure Thomas’ contract, reducing his salary and freeing up $14.84 million in 2024 salary cap space, as per Over The Cap.

Similarly, Dexter Lawrence is currently operating under a four-year, $90 million extension signed last offseason, carrying a cap hit of $22 million in 2024. A potential restructuring of Lawrence’s contract could generate $12.3 million in cap savings for the Giants, according to Over The Cap.

The New York Giants are in dire need of significant offensive improvements after their unit ranked among the league’s worst this past season. Creating additional cap space becomes crucial for the Giants, enabling them to pursue high-impact players in free agency, particularly focusing on top-tier wide receivers and offensive linemen—positions that stand out as their two most pressing needs.

In preparation for an active offseason, it is anticipated that the Giants will undertake contract adjustments and part ways with underperforming contracts, signaling a proactive approach to address their offensive challenges.