New York Giants general manager Joe Schoen is not a fan of restructuring contracts or adding void years in order to clear salary cap space. In fact, he has frequently referred to it as a “last resort.”
But with cornerback James Bradberry and running back Saquon Barkley still on the team, Schoen was forced to make a difficult decision.
On Monday, the Giants reworked the contract of cornerback Adoree’ Jackson, converting $8.965 million of his deal into a signing bonus and adding a void year. The move clears $5.98 million in cap space.
The Giants have converted $8.965M of CB Adoree’ Jackson’s contract into a signing bonus (with a void year added), creating $5.98M in cap space, per source.
The G-Men were recently the only team in the league with under $1M in cap space, so this frees up some flexibility.
— Field Yates (@FieldYates) April 4, 2022
As Yates notes, the Giants were down to about $1 million in cap space with as much as $16 million needed to sign their 2022 NFL draft class. And while restructuring Jackson’s contract does clear up some space, the team still needs quite a bit more prior to signing any of their draft picks.
Under the new terms of Jackson’s contract, his 2023 cap hit will increase and $3 million in dead money will be added in 2024.
On the plus side, Jackson is still young and is an ideal fit for Wink Martindale’s defensive system. He will be a main building block for the team, who expect him to improve after a solid 2022 campaign.
