The restructured deal, which was signed last Thursday, converts $1.5 million of Kiwi's 2013 guaranteed base salary into a signing bonus. The new deal will save the Giants approximately $1 million towards the 2013 salary cap, but will slightly increase his cap number in both 2014 and 2015.
The exact numbers, as they appear in NFLPA records, show that Kiwanuka's 2013 salary has dropped from $2.95 million to $1.45 million, with his total cap hit dropping from $5.125 million to $4.125 million.
Kiwanuka will not lose any money as a result of this new deal, with his 2014 cap number increasing from $6.55 million to $7.07 million and his 2015 cap number increasing from $6.95 million to $7.45 million.
This move puts the Giants between $5 – $6 million under the projected 2013 cap, which is expected to remain flat at $121.1 million. However, there have been some rumors suggesting it could rise to $123 million by the time the official announcement is made.
Also…Football, Mathias Kiwanuka, New York, New York Giants, NFL