I had discussed yesterday how the Giants were the final team left that was required to make salary cap related moves to become cap compliant and now we have the details of what the team did.
The Giants once again went to their “go to guy” when it comes to contract restructures in G Chris Snee, whose restructuring of his contract is almost an annual ritual. Snee reduced his base salary for 2013 by $2. 5 million, the difference of which will be prorated over the remaining two years of the contract. This created $1.25 million in cap room for the Giants.
The second move the team made was restructuring P Steve Weatherfords contract. Again this was a minimal reshuffling of money to just give the Giants whatever minimal room they required to comply with the salary cap in 2013. The Giants converted $900,000 of Weatherford’s salary into a bonus that will be prorated over the remainder of the contract. The Giants gained $675,000 in cap room with the move. Weatherford’s cap charge will rise by $225,000 in each remaining season he is with the Giants.
Jason is the founder of OTC and has been studying NFL contracts and the salary cap for over 15 years. Jason has co-authored two books about the NFL, Crunching Numbers and the Drafting Stage, which are widely circulated in the industry and hosts the OTC Podcast. Jason’s work has been featured in various publications including the Sporting News, Sports Illustrated, NFL Network and more. OTC is widely considered the leading authority on contract matters in the NFL.