The New York Giants slashed the pay of cornerback Corey Webster's contract on Thursday in an attempt to clear salary cap room, but also to keep a player with two Super Bowl rings on the roster at a price that better resembles his market value. Prior to the pay cut, Webster was going to count over $9 million against the Giants 2013 salary cap, an absurdly high number for a player who was statistically among he worst cornerbacks in the NFL in 2012. However, as more details emerge regarding the pay cut, it appears the Giants came away with significant salary cap savings
Instead of paying Webster a base salary of $7 million, the team brought that number down to $1.25 million, gave him a signing bonus of $2.5 million and added a voidable year to the deal. The Giants cleared around $4.5 million dollars of salary cap room, which is $1.5 million more than was originally reported yesterday.
All in all, it was a good deal on both sides. Obviously, it puts the Giants more than $10 million under the $123 million salary cap and gives them some flexibility to retain some of their own free-agent's, or even sign players off the open market. For Webster, he is guaranteed at least $2.5 million next season and gets to avoid being put on the open market with the flurry of veteran defensive backs that have been released in recent days (including former Giants CB Aaron Ross.)
Webster is in a contract year, so he has every incentive to improve upon his play in 2013. At the very least, he provides depth in the defensive backfield and a veteran leadership presence. At the very best, he returns to form and is a reliable cornerback on a defense that is searching for a dominant pass rush that went dormant for the majority of 2012. The Giants still may look to add a veteran off the free-agent market to compete for a starting job; however, Corey Webster is going to have every opportunity to contribute in a positive fashion next season. Now that the uncertainty regarding his return is in the past, it's up to him to prove he's still capable of competing at an NFL level.
Also…Aaron Ross, contract, Corey Webster, Football, New York, New York Giants, NFL, Super Bowl