Leading up to free agency, the New York Giants were in a precarious position. They had a slew of needs and, yet, somehow had to clear cap space before the official start to the new league year. General Manager Jerry Reese managed to do exactly that and then some. Not only have the Giants addressed many of their needs, they've cleared up additional cap space in order to continue conducting business that needs to be done.
On Thursday, the NFL sent out a press release detailing the cap space for all 32 teams, and although Big Blue is far from being in the best possible scenario, they have carved out $4.581 million in cap space.
These updated numbers include the signings of WR Louis Murphy, LB Dan Connor, TE Brandon Myers, K Josh Brown, S Ryan Mundy, CB Aaron Ross and DT Cullen Jenkins, as well as the re-signings of G Kevin Boothe, QB David Carr and LB Keith Rivers. It also takes into account the releases of DT Chris Canty, RB Ahmad Bradshaw, LB MIchael Boley and the pay cuts/restructures of LB Mathias Kiwanuka, OL David Diehl and CB Corey Webster.
There were, of course, a wide variety of other moves which we will update in our 2013 free agency score card later today.
Important note: These numbers were also adjusted due to four Giants reaching contract escalators (however, an adjustment was made in the case of Diehl who took a pay cut anyway).
Here is the full breakdown from the NFL:
Current contracts: 47
Previous year carryover: $1,000,000
Adjusted cap: $124,091,284
Team cap: $119,510,326
Cap room: $4,580,958
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