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Report: New York Giants Still Over Projected 2013 Salary Cap

February 10th, 2013 at 9:30 AM
By Dan Benton

The NFL salary cap is a very difficult thing to understand. That was compounded when the new Collective Bargaining Agreement (CBA) brought about some changes, and that's why every report that's read shows varying numbers. The truth is, outside of the teams themselves, very few people have a true understanding of where each organization sits as it relates to cap space. Still, the experts run the numbers as best they can in an effort to show where each franchise sits heading into free agency.

For the New York Giants, even after releasing linebacker Michael Boley, running back Ahmad Bradshaw and defensive tackle Chris Canty, they remain over the projected salary cap for 2013. Or so says Jason La Canfora of CBS Sports.

"The Giants came into the week about $12 million over the cap, but took care of some of their business right away, getting back down to the cap with the release of veterans Ahmad Bradshaw, Chris Canty and Michael Boley. The Giants still might find it difficult to keep both safety Kenny Phillips and tackle Will Beatty, and could be redoing deals for guys like Eli Manning," La Canfora wrote.

Most reports suggest the Giants actually shed roughly $14 million in cap space this past week, which would put them at the cap as opposed to over it. However, if La Canfora's numbers are accurate, it would put the Giants at roughly $122 million for their top 51 players.

That's the number CBS shows for the Giants, but they also have that against a project salary cap of $120 million when it's actually more likely to be $121.1 million. Of course, based on the latter projection, that would mean the Giants are only $900,000 over the projected cap. Which, again, is based on La Canfora's numbers. Based on the other reports of approximately $14 million shed, that would mean the Giants have actually moved themselves under the projected salary cap by $1.1 million.

If your head spinning yet? Yes? Good.

The truth is, no one really knows where the Giants are as it relates to a projected cap that isn't even official yet. The could be slightly over or they could be slightly under. The only thing that's certain is that they're a lot closer now than they were a week ago at this time.

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Tags: Ahmad Bradshaw, Chris Canty, Eli Manning, Football, Kenny Phillips, Michael Boley, New York, New York Giants, NFL, Will Beatty

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56 Responses to “Report: New York Giants Still Over Projected 2013 Salary Cap”

  1.  Dirt says:

    Does Osi’s contract count against the current number?

    •  njm0m says:

      I thought he didn’t have a contract?

      •  Dirt says:

        He’s on contract until FA starts, but I guess what you said probably answers the question – he’s not counting toward the 2013 cap.

        •  demo3356 says:

          his 2013 year was voidable and not guaranteed so he shouldn’t be on the books for any salary.. May be on the books for any bonus money he got. Cant remember if his new deal had a signing bonus or just salary bump

  2.  Krow says:

    Well .. the cap is like natural gas reserves. There isn’t any till you need it. Then they go out and find some.

    •  demo3356 says:

      You keep saying that, but its really not that simple.. .. They can redo deals and free up 2013 dollars but they are kicking the can down the road and adding guaranteed dollars towards future cap numbers.. There is no magic pixie dust that just gives you free cap dollars.. Once you atrr in the situation the giants are whenre you are over the cap, anything you do other than cutting guys in the final year of thier deal either escalated dead money (Cutting guys with years left and remaining bonus dollars) or pushes money into future years vs the cap (restructuring deals..) Its pay now or pay later.. If guys are part of your longtime plans (Eli Rolle) you can redo and restructure, if guys are short term guys (Webster Diehl) you can redo with a pay cut and shorter deal. The best thing for the Giants to do from a fiscal perspective is cut Diehl and Webster, but until they see what happens with Beatty and Boothe they are holding on to deal and I imagine they are working with Websters agent on a restructure with a pay cut

  3.  fanfor55years says:

    I still think the two best places for restructuring to get significant 2013 cap savings are Eli and ‘Trel. Both are at big numbers and both could be extended without hurting the team as their play falls off because both should be good for at least two years beyond their current contract terms.

    Rolle would do it to keep KP, a fellow Hurricane. Eli would do it to keep Beatty.

    I’m no longer very concerned about the cap situation, but acknowledge that there’s little likelihood they can somehow maneuver to keep all of Beatty, Phillips, Boothe and Bennett. Not ideal, but losing one, or even two, of them would not be the end of the world.

    KP might not even want to be here, so it may not be a choice for Reese to make.

    Boothe is just a bit better than average and quite replaceable. He was A+ as depth because he’s versatile, but once you’re paying him starter’s money there are plenty of others who can equal his play and may take less money.

    We’ve discussed Beatty at length. Solid player. Not a guy worth “elite” money. Can always be kept via franchise tag as a one-year bridge to the long-term solution (which could be Brewer, Mosley, McCants or someone drafted in April) who, if he plays lights-out in 2013 can THEN be given a long-term deal when a few of the big cap numbers come off the payroll (Webster and Tuck and Snee could all be gone after the 2013 season, and I think of those three only Tuck is likely to be around).

    Bennett would be a great “keep”, but frankly, if Tampa Bay really wants him he’s probably gone. They have his brother and a lot more cap space than do the Giants. Better get used to the likelihood that he’s gone. As I’ve said, we could be on the verge of the Adrien “Smokey” Robinson Era at tight end (watch as our “JPP of tight ends” smokes the defenders and leaves tracks of their tears behind him). And I will not be shocked if we see Travis Beckum back on a minimum contract, or Larry Donnell, depending upon whether they’d want a “receiving” tight end or a big blocking TE. Maybe we can hypnotize the rest of the league and they’ll allow us to grab Zach Ertz in the 4th round. Hey, even fantasies sometimes come true.

    •  jb322 says:

      I think that it would be a mistake for Bennett to go to Tampa. I hear they have some coaching issues down there and that contributed to that team falling apart late in the season. That scenario would be a nightmare for him. I think he knows that already, which is why he keeps saying that he wants to come back to the Giants. I am much more worried about the Bears making a run at him than TB.

      •  G-MenFan says:

        He’ll go where the money is. They all do. I’d do it, you’d do it, we’d all do it.

      •  fanfor55years says:

        Bennett might give the Giants a discount, but it would not be big. The players all know very well that as they say “NFL means not for long”. These guys have to make the dollars when they can. This is Bennett’s first shot at a real payday and all the potential media stuff in Ne York that is post-career for him is not going to prevent him from turning down $2-2.5MM per year when he can get $3.5-4MM elsewhere.

        I very much hope he’s back. I don’t expect it. The Giants don’t “pay up” for tight ends. That’s part of their team philosophy and unless a superstar comes along at that position they aren’t going to change it. Bennett’s good, possibly very good. Superstar? Not in anyone’s wildest dreams.

        And just btw, they also don’t draft tight ends whom they then describe in vaulting rhetoric so they can sit on the bench for two seasons and then have only two seasons of play before they hit free agency, especially when the GM has given his imprimatur to the kid. My guess is they want him to take on that #2 tight end role this season, but if Bennett pushes hard on the money button I’m sure they will have another plan. Note that when they signed Bennett it was for one year, while they drafted Robinson. Anyone thinking that’s coincidence is not paying attention to the way Jerry Reese (and John Mara) do things.

  4.  jb322 says:

    I believe that Eli has a cap hit of $21 Mil this year and he is not allowed to renegotiate until the end of March. I find it interesting that they haven’t cut Webster yet. To me it lends some credence to how injured he was this season and may suggest that they will restructure him whenever possible. I really think that it is possible to keep the 3 B’s, cruz and KP this year. I think people tend to forget that you can structure the contract so that it counts very little up front. You give a guy like Bennett a $10 mil signing bonus over 4 years thats only $2.5 a year but looks huge. And please don’t forget, that even with all our cap issues this year we only have $65 mil under contract for next year, which leaves alot of room for a few cap friendly deals.

    •  G-MenFan says:

      They haven’t cut Webster because it’s Sunday. He’ll get cut tomorrow.

    •  Eric S says:

      I doubt they cut Webster. First of all I don’t think he had any “injury” that led to his play falling off this year. Most of the time that Webster was getting beat it looked on replays as though he kept getting caught peeking in the backfield and losing his man, or he was trying to jump a route and was getting beat on double moves or he simply let his guy go thinking he had safety help over top. Those are all mental mistakes that can be corrected. Why they happened and spiraled out of control is the question. Is it Fewells philosophy of the turnover based defense? Webster was never considered a strong read/react zone corner, his skill-set is more suited to press bump and run.

  5.  Liberal Giant says:

    Teams that pay their QB’s three times what the next guy earns are simply painting themselves in the corner. There are too many good QBs coming out of college for this continue to happen. We can see Baltimore is headed into this bind. NE may soon find themsleves in this position. Indy got lucky in getting out of it. It is coming down to supply and demand. What will the Giants do in another year if they go into a spiral? If not already, Eli will become the biggest question mark. While Eli is a great QB and brought this team two championships, he is no Tom Brady. The day will soon come whenth QB is no longer the highest paid on any given team. The NFL has tried so hard to create parity, but there is none among the players. Someone might just come along and say, hey, everyone earns the same. I know, it is a pipe dream.

    •  G-MenFan says:

      Everyone earning the same money is a “pipe dream” only for people with a world-view suggested by your screen name.

      •  demo3356 says:

        Amen Gmen

      •  sonnymooks says:

        Its not a pipe dream, its a wet dream for the owners, lol.

        Seriously, the owners would love to have parity among the players, and install an egalitarian salary system, its the dream of all dreams for owners. The amount of money they would save and the profits they could make would be staggering.

        If that one player comes along and demands that everyone be paid the same, the players union would be justified in taking him out back and beating him with a lead pipe, LOL.

        The QB is, and will continue to be the highest paid player as long as players refuse to become slaves to owners and as long as they seek a bigger share of the profit pie.

        But, “Liberal Giant”, don’t worry, you dream it, and maybe, just maybe, the owners can break the backs of the union and make it happen :-)

      •  Eric S says:

        Please do not lump this guy in with the rest of the liberal world. If Liberal Giant has shown anything over the course of their postings here at G101 it’s that they know little about the NFL.

  6. Anthony Raiaaxr29 says:

    Wasn’t the cap supposed to increase exponentially in the near future because of the influx of new TV money? I thought thats what was stated after the CBA?

    •  demo3356 says:

      its not for a few more years..

    •  Dirt says:

      There’s an article out there that basically said this huge cap increase is actually never coming. Let me see if I can find it.

        •  fanfor55years says:

          But there IS an affect. Assuming that the cap is going up by about 5-6% annually over the next 3-4 years, that’s about $6-7MM each year. So what will happen? Seems to me that teams are going to pick out a small number of players they want to build around and structure their team’s salary schedules so that each year a few “non-essential” veterans are removed, clearing perhaps $15-20MM of cap space, then adding the marginal $7MM and using that total of, say, $25MM to sign the rookies, bring in a few cheaper free agents (the market for free agents is going to go down except for the real blue-chippers because you cannot otherwise manage the cap), and get say $12-15MM into the hands of those key players on your team by back-end contract escalations (along with a great percentage of guaranteed money).

          This will be the OPPOSITE of Liberal Giant’s “dream” (for many that dream would be a nightmare). The top players will get more and more of the money, just as in other parts of the economy where the stars are taking a greater portion of the pot, but those “left behind” in the NFL will still be earning a very nice living. Of course, the owners will be raking in the cash at the expense of about 80% of their team’s personnel, but that’s exactly what the union signed up for, whether they realized it or not. I’ve said for years that De Smith got taken to the cleaners after all of his tough rhetoric. The players will start finding that out next year.

  7.  sonnymooks says:

    I read that article about tackles in PFT and about the probelms they may have with getting a payday, and that article makes a whole lotta sense.

    My view all along has been that Beatty is gone, as someone would overpay him, throwing him more money then he is worth (on the grounds that he is pretty much in his prime, and has a superbowl ring). I’m not concerned that his demands would be high, I honestly believed that some idiot out there (we’ll call this imaginary idiot, Jerry Snyder) would throw Beatty more money then he could even think about for a second and grab him, just give him a blowout and blowaway stupid offer and he would take it but I’m starting to reconsider that now.

    If his value gets knocked down, then he may be resignable.

    I’m moving from downright pessimistic, to cautious and on the fence (aka, I’m back tracking based on reading about the glut of tackles hitting FA and the depth in the draft).

    Beatty may have just had the bad luck of hitting FA in the wrong year, if thats the case, we could get him back while some other FA tackle gets a cap screwing idiotic deal worth more money then they are even close to being worth.

  8.  GmenMania says:

    One thing that’s very interesting about this draft class is how deep it is in guards as well as tackles. So letting Boothe may not be that harmful, provided Reese feels he can get someone like Jonathan Cooper at 19. The fact that this draft class is very deep in many of our positions of need gives Reese some flexibility.

    •  demo3356 says:

      No way Reese drafts a Guard at 19.. An OT maybe, guard or Center no way..

      •  GmenMania says:

        So you’re saying that if Chance Warmack somehow fell to us at 19, Reese wouldn’t draft him? I’m not buying it.

        •  demo3356 says:

          LOL! You must not have been around 3 years ago when Kujo and I had our knock don drag out over his claim that the giants should take a C or G at 16..
          No way it happens. Not saying I wouldn’t do it or would disagree with JR if he did it, just saying that the Giants do not value the position high enough to burn a first round pick on one. Kujo went on and on for a month about it and I continued to explain the giants philosophy and history to him and in the end they drafted JPP, a 4th DE over a guard or Center.
          IF the giants draft an OL at 19 it will be a blue chip tackle. IF not it will be a DT, CB, WR or TE. I’d love to see them take Ogeltree, but fear that LB much like guard is not a valued position in JR’s world..

          •  GmenMania says:

            I see your point. Any guard other than Warmack is probably not valuable enough to JR to take at 19 (and by the way, I was around for that argument between you and kujo). But I’m telling you right now, that if Chance Warmack is still on the board at 19, JR will pull the trigger and draft him. You can write that one down.

            •  demo3356 says:

              Write this down.. Chance Warmack could be sitting in the draft room in a I Heart Jerry Reese Giants Shirt and JR wouldn’t draft him…

  9.  demo3356 says:

    Couple of things
    1) I believe Lacanfora is incorrect. I’ve read every article everywhere about the cap and all reports had the Giants between 4 and 9.5 over the cap.
    2) I believe folks are selling short Will Beatty’s value to this team. He is the youngest and best starting Offensive lineman we have and plays the most important position. I am positive that he will be re signed. NO WAY we go into 2013 with Diehl or a rookie protecting Eli’s blindside and can not afford a starting quality FA at the position

    •  fanfor55years says:

      I’m not saying Beatty isn’t here. I’m just not nearly as convinced as you are that it will be on a long-term deal. If he overprices himself they could decide to pay franchise money to keep him when they have no better alternative but to plan on dumping him after 2013 if his play doesn’t get better.

      Beatty IS our best offensive lineman, but he is not an elite player and shouldn’t be paid as if he is until he proves otherwise.

      •  Krow says:

        Yes, that’s the thing. Beatty is a good player … and has a certain worth. But he’s not in some sort of ultimate power situation where the team has to pay him whatever he wants.

        There’s a number … with a little bargaining room … and that’s it.

        If he’s way beyond it … or can find a sucker … then he’s gone. Same goes for anyone. Reese knows that over-paying kills your chances in the cap era. A couple mistakes and you’re not a contender any more.

        •  demo3356 says:

          I agree with you 100% on JR’s philosophy, we just disagree on Beatty’s value to this team. I Don’t believe he is a top 5 LT in this league, but knowing that we
          a) have absolutely nothing behind him
          b) Never start Rookies on the OL, particularly LT
          c) Cant afford to go out and sign a top flight LT in free agency

          I just believe that Beatty is JR’s top in house FA priority and will not let him walk. Didnt JR Tag Brandon Jacobs a few years ago? Didn’t he tag him to keep him off the market and then work out a deal suitable to both? I could be wrong but thought that happened and dont see JR letting a quaity LT walk with absolutely nothing behind him at the posotion

          •  sonnymooks says:

            Honestly, I really thought Beatty was gone, but with the glut of tackles hitting FA and in the draft, the “One dumb owner” theory may not apply to him (the “one dumb owner” theory applies to every free agent class though). With alot of other FA Tackles out there, the “one dumb owner” will probably throw stupid amounts of money at a tackle who doesn’t come even close to deserving it, but that tackle is probably not going to be beatty.

            The Giants may have lucked out and Beatty might have just gotten a bit of bad luck, normally, a good productive tackle with a superbowl ring who is still in his prime, gets more then he is worth because owners throw themselves at said player, his value on paper would make him a prime candidate to get overpaid by someone.

            But this year, that someone might not be him, and thats his misfortune. Someone else is going to get massively OVERPAID, it just won’t be him, he may come back.

            •  demo3356 says:

              yup, there are some huge names on the market at the Tackle position. I’m sticking with my theory that Beatty never even hits the market though..

  10.  demo3356 says:

    The more doom and gloom we see about the Cap situation, the more folks should start to see what I’ve been preaching for 3 months. This season is going to be a blood bath for the Giants. Not just are guys getting cut, but a ton of our Free agents wont be bought back. Like I have said time and time again.. The 2013 New York Football Giants are going to be a much younger, much hungrier very different team. This team will be made up of-
    1) around 30-32 of the 33 guys they currently have under contract that I listed yesterday. Webster, Diehl and a surprise cut could all be gone by next season
    2) 7-9 Rookies. Most draftees and one or two UDFA
    3) 13-17 of our own UFA, RFA, ERFA that JR brings back. 2-3 big names out of Cruz, Beatty, Bennett, Phillips, Booth and the rest will be tendered guys like the Brown brothers and Pascoe or vet minimum deals like Rogers
    4) a few bargain vet free agent deals like Locklear or show me deals to talented yet unproven guys like Bennett last year. As pointed out by some guys here like Krow, there is going to be a ton of Talent in free agency and not enough cap dollars to go around. JR may get a steal of a deal on a guy that wants to win and is wiling to take a vet minimum deal to chase a ring

    I’m pretty sure that a handful of posters will respond to this with how wrong or crazy I am and that this will happen or that will happen, as many have since the day I started beating this drum back in October, but as the facts keep coming out more and more will realize this is the unfortunate truth..

    •  Krow says:

      Pretty much the case. But I’m more skeptical of the cap drama. Last time they were doing this sort of poor mouthing they end up offering that fat lump Haynesworth $60,000,000. Thank heaven Danny Snyder saved us.

      •  demo3356 says:

        Not at all true.. They had plenty of money that off season after Plax, Toomer, Strahan, Shockey and several other high priced contracts came off the books that off season and the season before that. We went out and signed, Boley, Canty and Bernard to pretty big offers. This year and the last 2 have been different. We have been pretty cap starved since that off season and after Rolles monster deal in 2010 off season. All those extensions JR did in 07 and 08 and all those deals from 09 off season finally hit the fan this off season and we are up against it. Like I said upthread there is no magic pixie dust for the cap

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