The Giants made a somewhat surprising — though understandable — move on Friday to lock in defensive back Logan Ryan long-term, and the deal is going to have a significant impact on the construction of the team’s roster in 2021.
Namely: They’re going to have a difficult time re-signing one (or both) of their two most important impending free agents, and it could impact their ability to sign a significant player from outside their roster.
Ryan’s contract, per NFL Network’s Ian Rapoport, is set to be worth $31 million over three years, with $20 million guaranteed. The exact structure isn’t known yet, but signing the deal now allows the Giants to spread Ryan’s signing bonus over four years instead of three.
Regardless of the structure, though, this puts a sizable dent in the Giants’ projected cap space for 2021 and their ability to re-sign players like Leonard Williams and/or Dalvin Tomlinson, two talented defensive linemen. If the cap drops to $175 million as expected, that would put the Giants at $16.8 million in space before the Ryan deal.
Williams played the 2020 season on the $16.1 million franchise tag and after a career year (8.5 sacks, 15 QB hits) he’s expected to seek a contract in line with other elite defensive linemen, somewhere in the range of Packers’ Kenny Clark ($70 million over four years) and Chiefs’ Chris Jones ($80 million over four years).
“I just try to control what I can control. I’ve been enjoying my time here so far,” Williams said on Thursday. “I love the guys on this team. I love playing with these guys. I’ve built a relationship with a lot of the players on this team. I love the direction of where it’s going with this new coaching staff. I’ve been proud to be a Giant for however long it’s been. If it ends this year, then it ends this year. But either way, I’ve been happy to wear these colors and play this season. It’s been fun being a part of this defense and this team.”
Tomlinson doesn’t put up particularly impressive statistics (43 tackles, 2.5 sacks, six QB hite) but is considered one of the better run-stopping defensive tackles in the NFL. Spotrac has Tomlinson projected to earn about $9.5 million per season, comparable to recent deals for Vikings’ Michael Pierce ($27 million over three years) and Bears’ Eddie Goldman ($42 million over four years).
“I’m loyal,” Tomlinson said in November. “This is family here. But I’m not focused on any of that (contract) stuff. I’m just focused on one week at a time.”
The Giants are expected to release wide receiver Golden Tate, which would clear up $6.1 million in cap space. Linebacker David Mayo ($2.3 million in savings), tight end Levine Toilolo ($2.95 million) and wide receiver Cody Core ($2 million) are dispensible players that could be cut to save money, too.
The Giants will also have to decide what to do with tackle Nate Solder, who hasn’t ruled out the possibility of retirement. Solder opted out of the 2020 season, pushing his contract back one year. He’s on the books for a $16.5 million cap hit in 2021, but isn’t a projected starter with rookies Andrew Thomas and Matt Peart in the fold. The Giants could cut him and save $6 million, though they’d also incur a $10.5 million dead cap penalty.
Right guard Kevin Zeitler ($12 million in savings) could also be a cut (or trade) candidate, but he’s been the Giants’ best and most consistent linemen this season. With uncertainty at other positions on the offensive line, the Giants would be unwise to dump their most consistent performer. They could also extend Zeitler’s contract, set to expire after 2021, to reduce his $14.5 million cap figure. Though, he is 30.
If the Giants trade tight end Evan Engram, they’d save $6 million, though that seems unlikely at this point.
Other players that could be candidates for extensions to reduce their 2020 cap hit: cornerback James Bradberry (expires after 2022 season), linebacker Blake Martinez ( 2022) and safety Jabrill Peppers (2021).
Anyway, if the Giants did cut Solder (along with Tate, Core, Toilolo and Mayo) they’d get to around $30 million in space at the projected $175 million cap, $42 million if they cut/trade Zeitler. Ryan would take a chunk out of that, as would a new deal for either Williams or Tomlinson.
Then, the Giants will have to get creative in finding ways to fill other holes on their roster, namely at wide receiver, linebacker and cornerback.
With Daniel Jones likely returning at quarterback in 2021, wide receiver is a position of particular interest.
It is a historically deep free agent class at wide receiver, with Pro Bowl-caliber players like Allen Robinson, Kenny Golladay, Will Fuller, Chris Godwin, Corey Davis and Juju Smith-Schuster. Spotrac has them projected to earn contracts anywhere from $10-20 million per season. The next tier of available wide receivers includes T.Y. Hilton, Marvin Jones, Curtis Samuel, Nelson Agholor, Sammy Watkins and A.J. Green.
If the Giants plan to re-sign Williams in addition to the new Ryan deal, it will become more difficult to reel in a receiver from that first tier.
They also could target the position in the NFL Draft, with talented players like LSU’s Ja’Marr Chase and the Alabama duo of Jaylen Waddle and DeVonta Smith expected to be picked in the range of the Giants pick.
The Giants have six draft picks and are currently projected to pick 10th overall.
Clearly, the decision to re-sign Ryan will have a major impact on how the Giants conduct their offseason in 2021.
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