Latest news with #salarycap
News.com.au
29-05-2025
- Business
- News.com.au
Cats stand firm against alleged breach
AFL: Geelong Cats coach Chris Scott has refused to accept reports of the club potentially breaking the salary cap.
New York Times
27-05-2025
- Business
- New York Times
Why these 5 NHL restricted free agents could become trade candidates this offseason
There will likely be some sticker shock when fans see some of the contracts players earn this offseason as we enter a new era of NHL salary cap growth. This inflationary climate means some teams have tough decisions to make on specific restricted free agents who are in line for significant raises. If the club is fully sold on the player's ability and long-term fit — and if the player is willing to stay — it's usually straightforward to agree to a lengthy contract extension that makes both sides happy. However, sometimes there is a gap between the agent's and the team's perceived value of the player or their future role, and that's when matters can become complicated. Advertisement For example, if a player breaks out in their platform season, the surging cost of that RFA's next contract can scare a team. In that case, they could look to explore a 'prove it' two or three-year bridge deal that clocks in at a lower cap hit instead of making a massive long-term commitment. In extreme cases, teams can sell high on the player and trade them, similar to what the Buffalo Sabres did when they dealt Casey Mittelstadt to the Colorado Avalanche at the 2024 trade deadline. It's widely assumed that the Detroit Red Wings' surprising decision to trade Filip Hronek to the Vancouver Canucks in 2023, when he was in the middle of a breakout, was at least partially motivated by the fear of what his next contract in the 2024 offseason would cost, as another example. Teams must be more proactive and delicate when handling their RFAs, especially after the St. Louis Blues successfully offer-sheeted Dylan Holloway and Philip Broberg last summer. The idea of an offer-sheet frenzy this offseason seems overblown, but it is a more legitimate leverage ploy for players in negotiations than ever before. Here, we will examine five fascinating RFA quandaries teams will face this offseason. This is not meant to be a list of players who are guaranteed to be out the door in summer trades; it's just that their contract situations are complex and will require extra thought and consideration. A favorable contract extension would probably be the No. 1 preference for these teams, but if talks go sideways, it could open the door to the possibility of a trade. Contract projections: eight years at $8 million (Evolving-Hockey), five years at $7.2 million (AFP Analytics) Bowen Byram doesn't seem like an ideal long-term fit in Buffalo for a couple of reasons. Firstly, the Sabres already have $19.35 million committed long-term to Rasmus Dahlin and Owen Power, two offensively gifted left-shot defensemen. It probably doesn't make sense for Buffalo to dole out another huge contract to a third left-shot defenseman with a similar offensively oriented skill set. Byram switched agents earlier this month, too, which can sometimes be a sign that a player isn't entirely happy with their situation. Advertisement Byram's precise value as a player is also tricky to determine. The 23-year-old has tantalizing skating and puck-moving skills, and he flashed star-level potential during Colorado's 2022 Stanley Cup victory, and yet his underlying play-driving numbers have been mediocre since then, even going back to the end of his tenure with the Avalanche. This year, he drove strong results when paired with Dahlin but struggled when paired with anybody else. It'd be risky to potentially commit a $7.5-8 million cap hit on a long-term deal to a defenseman who, while young and talented, hasn't proven he can drive his own pair yet. The Sabres would be best off either trading Byram for a haul this summer or inking him to a cheaper, short-term bridge contract in the $6-6.5 million AAV range, though the latter would come with its own risk since any bridge deal longer than a year would walk him to straight to unrestricted free agency. Contract projections: eight years at $7.7 million (Evolving-Hockey), seven years at $7.4 million (AFP Analytics) Normally, you'd think a homegrown 23-year-old center coming off a 60-point season would be off-limits for other teams. Young top-six centers are the kind of core pieces that organizations build long-term around. However, Marco Rossi's situation in Minnesota has become strange and his future is uncertain. Rossi was inexplicably buried on the fourth line during the Wild's first-round loss despite excelling in a top-six role throughout the entire regular season. He averaged just 11:08 a game in the playoffs, a far cry from the 18:15 he averaged during the regular season. Rossi told reporters he was 'very disappointed' by his usage during his end-of-year media availability. The main knock on Rossi is that he's undersized at 5-foot-9. He's a fierce competitor, a reliable goal scorer who has scored 20+ goals in back-to-back years and has solid two-way IQ, but teams sometimes hesitate to commit big dollars and term to players that lack size and elite speed. Advertisement Evolving-Hockey and AFP Analytics believe Rossi should command an AAV in the $7.5 million range on a long-term deal. I'm skeptical that the Wild would commit that aggressively to him when they didn't even use him like a top-nine forward in the postseason. GM Bill Guerin, who has often prioritized size and grit while building his roster, may look at Rossi's small frame and conclude he isn't cut out to be the 2C on a contender. A medium-term contract in the three- to five-year range, with a cheaper AAV in the $5-6 million neighborhood, could be a reasonable compromise, but is that in Rossi's best interest? He may either feel uncertain about his top-six role with the club or want to capitalize on his 60-point breakout with the security that a lucrative long-term contract provides. Rossi isn't arbitration-eligible, so that reduces his leverage, but he could be an offer-sheet target considering how many teams will be shopping for center help this summer. It isn't far-fetched to think Rossi could become a trade chip if contract talks become difficult, even though there's a decent chance a trade would backfire against the Wild long-term. Contract projections: eight years at $10.1 million (Evolving-Hockey), eight years at $10.3 million (AFP Analytics) Noah Dobson and the Isles are in a tricky, high-stakes situation. The 25-year-old exploded for 70 points and finished eighth in Norris Trophy voting in 2023-24. However, he's coming off a disappointing 2024-25 season where he produced just 39 points in 71 games. Dobson is an enormously talented top-pair defenseman, but his defensive play has flaws, and his offensive production has clearly vacillated. A $10 million AAV projection for Dobson might seem too high given his down year, but he's paced for an average of 56 points per season over the last four years. Jakob Chychrun, who is also far from perfect defensively, recently earned $9 million AAV on an eight-year extension with the Capitals despite a career high of only 47 points. Chychrun is a more prolific scorer than Dobson, but the latter is a better overall point producer and player, excluding this season, and a more premium asset as a right-shot defenseman. Advertisement For the Isles to commit a $10 million AAV to Dobson long-term, they'd have to be confident that he's a bona fide No. 1 defenseman, which is an open question at this point. New York could try exploring a four- to six-year deal at a lower cap hit, but would the player be open to that? Dobson has a lot of leverage here despite his down season — he's arbitration-eligible and only one year away from UFA status. If the Islanders aren't ready to pay Dobson like a No. 1 defenseman, he could file for arbitration, take the one-year settlement and walk himself to free agency next summer. All of these dynamics — Dobson's down year, the $10 million AAV projection for a long-term deal and the leverage he has in arbitration — make this a challenging situation for the Islanders to navigate. Contract projections: four years at $5.9 million (Evolving-Hockey), six years at $6 million (AFP Analytics) K'Andre Miller, 25, has become a polarizing defenseman in New York. Two years ago, Miller looked like one of the most promising young defensemen in the NHL, scoring 43 points and eating huge top-four minutes as a 23-year-old. He unfortunately stagnated in 2023-24, and took a clear step back this season. The 6-foot-5 left shot committed costly turnovers, was at the center of tough defensive lapses and saw his offensive production slip to 27 points in 74 games in 2024-25. He has all the physical/athletic gifts in the world but struggles with his decision-making/hockey IQ at times. Miller is already coming off a two-year, $3.872 million AAV bridge deal, so you'd assume he's looking for a lucrative, long-term payday this time around. That presents an interesting dilemma for the Rangers: Are they ready to invest long-term in him, or do they fear he's never going to reach the potential he flashed two years ago, in which case it may be prudent to sell him while he'd still be a very valuable asset around the league? Advertisement I'd argue the Rangers should extend Miller and bet on a bounce-back for a few reasons: • The Rangers' blue line, especially on the left side following Ryan Lindgren's departure, is thin on impact difference-makers. Miller is the Rangers' second-highest upside defenseman after Adam Fox. • It'd be risky to give up on Miller without first seeing what a new Mike Sullivan-led coaching staff and system could do for his game. It's probably not a coincidence that almost every Rangers defenseman, Fox included, underperformed under Peter Laviolette and Phil Housley this season. • Miller and Fox have posted dominant results together in the past, controlling 63 percent of shot attempts and 65 percent of expected goals in nearly 500 five-on-five minutes together over the last three seasons. They don't have a huge sample size together, but it's particularly relevant since Lindgren's departure means Fox needs a new partner next season. Keeping Miller isn't a straightforward decision, though, because the Rangers have less than $10 million of cap space this summer, according to PuckPedia. They need to feel confident he'll rebound to justify handing out a long-term contract. Contract projections: seven years at $7.8 million (AFP Analytics), six years at $6.8 million (Evolving-Hockey) Don't be surprised if JJ Peterka can command an $8 million AAV, or at least close to it, on a long-term extension. Matt Coronato, a 22-year-old winger, broke out this season with 24 goals and 47 points. He recently signed a seven-year extension with the Calgary Flames at a $6.5 million cap hit. Peterka's statistical profile is much stronger than Coronato's — he scored 68 points this season and scored 28 goals and 50 points in 2023-24. The 23-year-old Sabres winger is a higher-end, more proven top-six scorer than Coronato, and his price tag should reflect that. Peterka is an excellent offensive creator, but his defensive impact was dreadful this season. During Peterka's five-on-five shifts, the Sabres bled 3.04 expected goals against per 60 and 3.35 actual goals against per 60, which was by far the worst mark among all Buffalo forwards. His defensive rating ranked in the bottom five percent of league forwards according to Dom Luszczyszyn's Net Rating model. That's where the question lies for the Sabres. Do they believe Peterka is worth a potential $7.5-8 million cap hit moving forward, considering his defensive warts this season? Peterka is young enough that he should be able to improve his play without the puck, and it's worth noting that his defensive numbers weren't nearly as bad in 2023-24, so perhaps this year's nightmarish defensive numbers are just a one-off, but it's a question mark nonetheless. I think the Sabres should bet on his talent and sign him long-term, but it's possible they could dangle him as a trade chip to shake up their core and address other needs, such as the club's dire need for top-four right-handed defense help. (Top photo of Bowen Byram: Al Bello / Getty Images)
News.com.au
26-05-2025
- Business
- News.com.au
‘There have been discrepancies': Geelong ‘expecting' sanction over third-party player payments
Geelong is expecting to be sanctioned over discrepancies in their third-party player payments, with fines looming, according to a report. The Cats have been audited by the AFL over the past few months as part of regular checks on club books and according to veteran reporter Caroline Wilson, the league has found several issues. 'The AFL conducts regular salary cap audit activities across a number of clubs every year as part of our annual salary cap compliance process,' a league spokesperson said in March. FOX FOOTY, available on Kayo Sports, is the only place to watch every match of every round in the 2025 Toyota AFL Premiership Season LIVE in 4K, with no ad-breaks during play. New to Kayo? Get your first month for just $1. Limited-time offer. 'We do not provide commentary on the conduct or progress of any of these activities and the only time we release any information publicly is if we determine there has been a breach of AFL rules.' The audit has reportedly found discrepancies between its results and the Cats' books, including 'lodgements that should have been noted but weren't', according to Wilson. 'The audit is virtually finished. Results have been slowed down by the fact that Geelong COO Marcus King has been away, I think studying actually at Harvard, he's back, and my belief is that Geelong are expecting a fine, or there will be a fine from the AFL over the coming weeks,' she said on Seven. 'Geelong have been adamant, from the word go, that there is no smoking gun here, that nothing untoward was going on at the Geelong Football Club in terms of any attempt to hide third party payments. 'The AFL accepts this, but there have been discrepancies, there have been lodgements that should have been noted that weren't, and they will lead to several five-figure fines, whether they go beyond five figures, I can't tell you. 'I do know that one major lodgement issue was a car to a senior AFLW player that wasn't lodged. And I think there might be a couple of other things as well.' It would not be the first time a club has been fined for incorrect lodgements with Brisbane fined $10,000 in 2017 due to an administrative error which saw a discrepancy with their total player payment information. 'We're not saying that there was any cheating, that there was any attempt to cheat the salary cap,' Wilson said. 'What it will lead to, and the AFL have told Geelong and other clubs, this is that there's been a loosening of management issues at many clubs, and a warning will be given to all clubs with a crackdown on third party payments. And this has been led by what's happened at Geelong.' Previous potential payment issues cited around the Cats , both elite-level club sponsors.
New York Times
22-05-2025
- Business
- New York Times
Should NHL teams spend their cap space now or save for 2026? How the UFA classes compare
Did Mitch Marner and John Tavares play their last games in Toronto Maple Leafs sweaters? Will another team be able to land Nikolaj Ehlers? Is Mikael Granlund a pending free agent worth investing in? With 28 of 32 NHL teams officially on the outside of the playoff picture, most of the league is already in offseason mode. And this offseason has a lot of potential, with the salary cap jumping from $88 million to $95.5 million on July 1 — the biggest year-to-year increase since the salary cap was introduced in 2005. Advertisement The increasing cap can be looked at in two ways. It buys a team that is up against it more breathing room — and it gives general managers more money to spend. The latter adds some intrigue to free agency. But it's not as simple as opening up the checkbooks to any free agent this summer. Teams have to contemplate whether this is the summer to swing big or if they should wait for a potential star-studded free agent class in 2026. The 2025 unrestricted free agent class has a number of impact players, starting with Marner. He's an elite puck-mover whose two-way game makes him an all-around threat. And that should earn him a payday this summer, even with some concerns about his play in high-pressure situations. Evolving-Hockey projects a seven-year contract worth an average annual value of $12.7 million. But up-and-coming teams with extra cap flexibility could push the boundaries even more, up to the $14 million range. Marner isn't the only big-name player set to become a free agent. Barring an extension in the next couple of weeks, Ehlers — who beat some of his playoff demons this spring in Winnipeg — could be looking at a seven-year deal, worth $8.9 million a year on average. Teams that strike out on those wingers could explore the tier below, with players like Brock Boeser, Brock Nelson and Matt Duchene. Boeser's goal-scoring ability is valuable, especially in a league where offense can win championships. But is he something of a passenger otherwise, which adds risk to his next contract. A seven-year extension, with a projected $8 million cap hit, is rich for someone who doesn't drive play enough in his own right. Brad Marchand and Sam Bennett are two other players likely to cash in this summer, if available on July 1. This may not be Prime Marchand anymore, but he is showing what he has left in the tank in Florida and how impactful he is in the playoffs. Bennett's physical, playoff-style of hockey tends to appeal to general managers, too. Advertisement On defense, Aaron Ekblad is one of the few pending free-agent defensemen in line for a long-term deal; Evolving-Hockey projects a six-year deal with a $7.7 million AAV. Vladislav Gavrikov is also of first-pair caliber, but is more likely to sign a deal with a shorter term. Dante Fabbro, Brent Burns and Dmitry Orlov highlight the list of second-pair defenders currently set to hit the market. All in all, it's a fine set of players, but it doesn't come close to the potential star power in 2026. The 2026 class also has a handful of second-line caliber forwards and second-pair defensemen on expiring deals. But what separates these groups of free agents is the talent available at the top. While the 2025 class boasts one elite player in Marner, the 2026 class is headlined by three MVP-caliber forwards: Connor McDavid, Kirill Kaprizov and Jack Eichel. The 2026 free agent class outshines 2025's two first-line caliber players with five — Kyle Connor and Adrian Kempe, who should make eight figures on their next deals, along with Artemi Panarin, Martin Necas and Alex Tuch. The defensive group is a bit thinner. But between Mattias Ekholm, John Carlson, Jake Walman and Ryan McDonagh, there are four true first-pair caliber defenders with expiring contracts in 2026. So, how should general managers navigate the next couple of seasons? The easy answer is to wait until 2026 if a team misses out on the top impact players in 2025. The salary cap is set to rise again, to $104 million, which will provide managers with even more money to work with. But it's actually not that simple. It all depends on who is left to sign by 2026. That's the 10-plus million dollar question every year. The 2025 free agent class was star-studded at one point … and then players started signing extensions early, pictured in red below. Advertisement Jaccob Slavin signed on the first day he was eligible, on July 1, as did Juuse Saros. Pavel Buchnevich and Victor Hedman quickly followed. Travis Konency, Leon Draisaitl and Sidney Crosby all extended before the puck dropped on the 2024-25 season. Carter Verhaeghe and Shea Theodore were locked up in October, then Igor Shesterkin signed his eight-year deal in December. Few big-name pending free agents make it to the deadline without an extension in place. When that happens, general managers are faced with two options: trade the player to ensure a return, instead of letting them walk for nothing on July 1, or use them as a rental and deal with the fallout later. Tavares, Panarin, and Johnny Gaudreau are three rare examples of the latter; Tavares left the Islanders for the Maple Leafs, Panarin from the Blue Jackets to Rangers, and Gaudreau from the Flames to Blue Jackets. But in some cases — hello, Mikko Rantanen — general managers take a more proactive approach. The Rantanen situation had its own unique quirks, though, since he was traded twice in one season. In the end, he was signed to an eight-year extension in Dallas, which took another high-end player off the board. And this isn't a trend exclusive to this past year. The 2024 free-agent class was set to be headlined by Auston Matthews, William Nylander, Sebastian Aho, Jake Guentzel, Sam Reinhart, Gus Forsling, Devon Toews, Noah Hanifin, Connor Hellebuyck and Ilya Sorokin, among others. Not one of those players made it to July 1 unsigned. The closest was Guentzel, whose signing rights were traded from Carolina to Tampa Bay, where he signed an eight-year deal on June 30. Instead, a very different caliber group headlined free agency in 2024: Elias Lindholm, Chandler Stephenson and Steven Stamkos were among the top centers on the board, which inflated their signing values. Jonathan Marchessault, Teuvo Teravainen, Sean Monahan, Alexander Wennberg, Tyler Toffoli, Jake DeBrusk and Tyler Bertuzzi were among the other available forwards. On the back end, Brady Skjei, Brandon Montour, Matt Roy, Brett Pesce, Chris Tanev and Sean Walker were some of the available defensemen. Advertisement Rewind to 2023. Nathan MacKinnon, David Pastrnak, Dylan Larkin, Bo Horvat, J.T. Miller and Mackenzie Weegar were all off the board by the time free agency opened. That left names like Alex Killorn, Ryan O'Reilly, J.T. Compher, Ryan Graves, Dmitry Orlov, Niko Mikkola and Joonas Korpisalo available on July 1. Aleksander Barkov, Mika Zibanejad, Tomas Hertl, Sean Couturier, Valeri Nichushkin, Ryan Pulock, Morgan Rielly and Darnell Nurse all extended early ahead of 2022 free agency. Filip Forsberg re-signed in Nashville the day before his contract expired. So the top players available when the market opened included Nazem Kadri, Vincent Trocheck, Andrew Copp, Claude Giroux, Mason Marchment, Ben Chiarot, Darcy Kuemper and Jack Campbell. Could these next couple of years be different in a rising cap world? Maybe teams won't make the mistake the Avalanche did and move Rantanen too soon. Maybe they will be more willing to hold onto pending UFAs as internal rentals, even if that player is set to walk away on July 1. And maybe that opens the door to general managers signing elite talent in free agency next summer. Or maybe players will start taking more control of their futures. If Marner can get $14 million, what could that mean for someone like Eichel on the open market? Then again, who knows if that even happens this summer? Ehlers could sign an extension with the Jets tomorrow. The Panthers could lock up Bennett and Marchand sometime within the next month. That could shrink the free agent class even further, and subsequently lead to middle-class overpayments, which tends to be the case when few impact players are left on July 1. If anything, general managers should use this summer to gauge the best way to utilize their spending power, rather than letting that extra cap burn a hole in their pockets. There is no reason to spend just for the sake of spending, especially with the 2026 class looming — unless they can land a true top-line caliber impact player. Advertisement Basically, it's a balancing act. If Marner is available this summer, teams should try to sign him because it's rare that an elite player makes it to free agency. General managers shouldn't look past him in the hopes that Kaprizov is available next July (especially since he has already expressed that he wants to stay in Minnesota). But when Marner, Ehlers and Tavares are off the board, whether or not that happens before or on July 1, teams shouldn't necessarily jump to sign Boeser for $8-9 million a year, either. Instead, teams have to start taking more calculated risks and learn when to spend and when to wait. In a perfect world, free agency is the best way to acquire top players, since it only requires cap space. But the reality is that top-tier players rarely make it to July 1, so teams have to measure the risk-reward of penciling in any 2026 free agents. General managers should stay mindful of the list of players set to be available in 2026, but it shouldn't be at the forefront of any decision-making, either. Instead, teams have to keep exploring every other avenue to acquire high-end players, whether it's the few players set to be available this summer, offer sheets, or trades. Data via TheStanleyCap and CapWages (Top photo of Connor McDavid and Mitch Marner: Claus Andersen / Getty Images)
New York Times
21-05-2025
- Business
- New York Times
The Giants need more salary cap space. Here's how they can free some up
The New York Giants have just $1.6 million in salary cap space, the lowest amount in the league according to the NFLPA. That will surely change soon because $1.6 million isn't nearly enough cap space to sign their draft class. The Giants will also need additional cap space down the road for in-season expenses, including the practice squad and injury replacements. Advertisement The Giants' final three picks in this year's draft — offensive lineman Marcus Mbow, tight end Thomas Fidone and cornerback Korie Black — signed their contracts during the team's rookie minicamp on May 9. Those modest contracts won't affect the Giants' cap space immediately, since their cap hits fall below the team's 51 most expensive contracts. Only the top 51 cap hits of the 90-man roster count on the cap during the offseason. That changes in Week 1, when all contracts count toward the cap (which is another expense the Giants must budget for). The Giants will need cap space when they start signing their top picks. No. 3 pick Abdul Carter's contract will carry an $8.2 million cap hit and No. 25 pick Jaxson Dart will have a $3.1 million cap hit. Those signings could come at any time. Last year, first-round Malik Nabers signed during rookie minicamp. The Giants' three first-round picks in the previous two years all signed their contracts in May. In fact, every Giants draft pick in the past two classes signed their contracts by the end of May. There's an obvious incentive for rookies to sign: The sooner they sign their contracts, the sooner they collect their signing bonuses. So expect Carter, Dart and the rest of the class to sign in the near future. That will prompt the Giants to create cap space. General manager Joe Schoen has options to create space, but the most direct avenue is to restructure contracts. Outside linebacker Brian Burns sticks out as the most logical restructure candidate. Burns has a $22.3 million base salary in 2025, which lends to creating a significant amount of cap space with a restructure. Assuming Schoen continues his practice of not adding void years, the Giants could create $15.7 million in cap space with a max restructure of Burns' contract, which runs through 2028. Advertisement That would reduce Burns' cap hit this year from $29.8 million to $14 million. The $15.7 million created this year would be pushed into the final three years of his contract, with new cap hits of $36 million in 2026, $37.7 million in 2027 and $37.7 million in 2028. Schoen may not elect for a max restructure, but there's no reason to leave any meat on the bone with Burns' contract. Creating $15.7 million in cap space would give the Giants enough room to sign their draft class, with space left over for in-season expenses. Expect word of a Burns restructure to coincide with the signing of Carter and other draft picks. Restructuring Burns will buy the Giants breathing room, but it's unlikely that it will create enough cap space to get through the season. The other players with ample base salaries conducive to a restructuring are left tackle Andrew Thomas ($16.4 million) and nose tackle Dexter Lawrence ($15.5 million). On the surface, Thomas is an obvious restructure candidate since his contract runs through 2029. A max restructure of Thomas' contract would create $12.2 million in cap space this year, while pushing that amount into the final four years of the contract. However, restructuring Thomas' contract doesn't figure to be a no-brainer for Schoen since he has been conservative about pushing money into the future for players with injury concerns. Thomas has missed 18 games over the past two seasons and is returning from a Lisfranc injury. Although Thomas is only 26, Schoen may have trepidations about shifting money into the future for a player with his injury history. The guaranteed money in Thomas' contract expires in 2026, and the team could move on with just $4.7 million in dead money after the 2026 season. Schoen may want to keep that option open if Thomas' injury woes continue. Advertisement Even when Schoen restructured Thomas' contract last summer — one major injury ago — the GM only pushed $3.3 million into future years. A more aggressive restructure last offseason could have moved up to $14.4 million into the future. It's telling that Schoen was far more conservative with his restructure of Thomas' deal, especially because a restructure of linebacker Bobby Okereke's deal to create $4.5 million was necessary a month later. So expect Schoen to leave Thomas' contract alone unless there are no other appealing options to create cap relief. That leaves Lawrence as the most obvious secondary restructure candidate behind Burns. The Giants could create $8.7 million in cap savings with a max restructure of Lawrence's contract. That would result in $8.7 million being pushed into the final two years of Lawrence's contract, resulting in cap hits of $31.3 million in 2026 and $33.3 million in 2027. That appears like an obvious move if the cap space is needed, since the 27-year-old Lawrence remains at the top of his game. The only potential complication with restructuring Lawrence is that he could be seeking a raise, as the defensive tackle market has exploded since he signed a four-year, $90 million extension in the spring of 2023. As with every veteran contract the Giants tender, the team has the right to restructure Lawrence's contract at its discretion. But if Schoen doesn't intend to enter negotiations on a raise with Lawrence, the GM may elect to avoid any contractual transactions. There's a future cost associated with the immediate savings created by any restructure. The Giants would lose $5.2 million in 2026 cap space with a max restructure of Burns this year. The Giants are currently projected to have $28.2 million in cap space in 2026 by Over the Cap (OTC). That's 14th most in the league and a benefit of having what they expect to be a starting quarterback in Dart on his rookie contract. Advertisement Restructuring Burns and other veterans would chisel away at that 2026 cap space. That's why Schoen could also pursue cap savings with no future implications. Cutting players or getting them to take pay cuts would result in cap savings this year without dipping into future cap space. Kicker Graham Gano and defensive tackle Rakeem Nunez-Roches stood out as the top cap casualty candidates at the start of the offseason. The Giants could have cut Gano, who is signed through 2026, at the start of the offseason for $3.2 million in cap savings with a $2.5 million dead money charge. Cutting Gano seemed like a distinct possibility since the 38-year-old has struggled with injuries and performance the past two seasons. But the Giants haven't added any kicking competition this offseason, so it appears they're content to stick with Gano. Cutting Nunez-Roches would create $3.6 million in cap savings while leaving a $1.4 million dead money charge. That seemed like an obvious move before the Giants signed veterans Roy Robertson-Harris and Jeremiah Ledbetter, and drafted Darius Alexander in the third round. Nunez-Roches, who turns 32 in July, is in the final year of his contract. The Giants value his leadership, but a $5 million cap charge for a rotational defensive tackle seems excessive considering the Giants' tight cap situation. Nunez-Roches could land on the chopping block — or at least in position for a pay cut — if the cheaper defensive line options perform well in training camp. Schoen has made a habit of squeezing players who earned proven performance escalators for pay cuts around cut day. Slayton took such a pay cut in 2022; cornerback Darnay Holmes did the same in 2023. There are three potential candidates in that category this year: Cornerback Cor'Dale Flott, tight end Daniel Bellinger and linebacker Micah McFadden. As Day 3 picks in the 2022 draft who played at least 35 percent of the Giants' snaps in their first three seasons, all of those players earned a raise in their base salary from $1.1 million to $3.4 million. Advertisement The way for those players to avoid a pay cut is to seize a valuable role. That's how cornerback Nick McCloud staved off a pay cut until midseason last year. McFadden is best positioned after starting 28 games over the past two seasons, although he figures to have competition for his role from cheaper options Darius Muasau and Dyontae Johnson. The Giants also signed veteran linebacker/special teamer Chris Board to a two-year, $5.7 million contract this offseason. The signing of Paulson Adebo will bump Flott out of the starting lineup, but the 2022 third-round pick still projects as the top backup corner. He'll need to maintain that status to avoid a potential pay cut. Bellinger is in the most perilous position. Theo Johnson took over as the No. 1 tight end as a rookie last season, while the Giants re-signed Chris Manhertz, who has a clear role as the team's top blocking tight end. That leaves Bellinger as the No. 3 tight end. While he has value in that role, it wouldn't be a surprise to see Schoen squeeze Bellinger for a pay cut to pick up $2.3 million in cap space before the start of the season. A note on the cost of the Giants' quarterback room. It's been celebrated that the Giants are only paying Russell Wilson and Jameis Winston a combined $14 million on the cap this year. Even when Dart's $3.1 million cap hit is added, it's an affordable group. But the picture changes when the $22.2 million dead money charge from Daniel Jones' contract is included. The Giants will finally be free from the Jones albatross next year, with Wilson's one-year, $10.5 million contract also off the books. That will leave them with just $8.9 million committed to Dart and Winston at quarterback in 2026. The Giants structured their free agent contracts this offseason with that cheap 2026 quarterback room in mind. It's commonplace for lucrative contracts to have lower cap hits in the first year that increase in future years. What's unique about the Giants' structure this year is that Adebo and wide receiver Darius Slayton each have bigger cap hits in Year 2 than Year 3 in their three-year contracts. Advertisement Adebo's three-year, $54 million contract has cap hits of $11.7 million in 2025, $23 million in 2026 and $19 million in 2027. Slayton's three-year, $36 million contract has cap hits of $7 million in 2025, $16 million in 2026 and $13 million in 2027. It's not a major departure from the Giants' typical structure, but it sticks out, and it fits with the cheap quarterback room they're expected to deploy in 2026. As usual, the Giants were among the biggest spenders in the NFL this offseason. The Giants dished out over $224 million in free agency this offseason, according to OTC. That was the fourth-most in the league. The Giants also ranked fourth in free agent spending in 2024 at $206 million, according to OTC. They dished out an astronomical $422 million in contracts during the 2023 offseason. (Photo of Micah McFadden and Brian Burns: Nic Antaya / Getty Images)
