Giants General Manager Joe Schoen said last week that the Giants would have to make some moves to create salary cap space for the coming season and releasing linebacker Blake Martinez wasn’t enough to get them where they needed to be.
Field Yates of ESPN reports that the team has also restructured defensive lineman Leonard Williams’ contract. They converted $17.88 million of his salary for the 2022 season into a signing bonus. The move creates $11.92 million in cap space.
The Giants also added a void year to Williams’ pact in order to spread the remaining cap hit out over a longer period of time. Williams signed a three-year deal with the Giants last year and has a non-guaranteed $18 million base salary next year.
That contract and the other ones that have Schoen trying to dig out of a salary cap mess were handed out by his predecessor Dave Gettleman. Getting the financial house in order will be the chief off-field focus for Schoen in his first year in his current job.