I don’t any firm source on this, but based on NFLPA records it seems as if the Giants have again restructured the contract of G Chris Snee by passing along $2.5 million of his $4.2 million base salary in the form of a signing bonus.The Giants cap was so tight after the signing of FB John Conner ($60,000) that they were in a position where they had to make a move just to function for the rest of the year. Snee has always been the teams go to guy for restructures and they went there again.
It does not seem any other changes were made to the contract and essentially the Giants are simply deferring $1.25 million in cap charges to 2014 when their salary cap books are a bit cleaner than they are in 2013. Snee’s cap next year should be $11.75 million with a dead money charge of $4.5 million if released. With the Giants in the middle of a very disappointing season he could be one of many veterans let go after the season, but for now he’ll give the Giants some much needed breathing room.
If I hear anything more on the contract I will pass it along.
View Chris Snee’s Contract and Salary Cap Page
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.
View Chris Snee’s Salary Cap and Contract Page
View Steve Weatherford’s Salary Cap and Contract Page
View Steve Weatherford’s Interactive Cap Chart