The Giants have restructured defensive tackle Dexter Lawrence’s contract to free up salary cap space.
New York has converted $10 million of the Pro-Bowlers base salary into a signing bonus in a move that resulted in an additional $7.5 million in cap space for the 2024 season, according to ESPN’s Field Yates.
The move opens up the possibility for general manager Joe Schoen to dip back into the free agent market ahead of next month’s draft.
Before the deal was restructured, the Giants had just $2 million in cap space, per Over the Cap.
Lawrence had carried a $16 million base salary after signing a four-year, $90 million extension with $60 million guaranteed in May 2023. This season is the first year of the extension which runs through the 2027 season.
Left tackle Andrew Thomas, who signed a five-year, $117.5 million extension that included $67 million guaranteed at signing last July, is likely the next player to have his deal re-worked to free up more cap space, per ESPN.
Thomas is due $14 million in base salary, and his current cap number accounts for nine percent of Big Blue’s salary cap.