The New York Giants are in a worse salary cap bind heading into the 2013 season that originally reported. Initial estimates had the Giants at $4.7 over the estimated $121 million cap for next season. That number is actually $9.15 million over, nearly double the initially reported estimate, according to National Football Post salary cap analyst Joel Corry.
Corry said Tuesday that the Giants top 51 players in terms of salary total approximately $131.15 million. Subtract the $1 million salary cap surplus the Giants will carry over into 2013 and that leaves the Giants $9.15 million over the cap at the current time.
What can the Giants do to get under the cap? They can either re-structure the contracts of some highly-paid veteran players, or release them. Here is a look at how much the Giants could save against the cap by releasing highly-paid veteran players entering the final years of their contracts.
2013 cap number: $9.845M
Dead money charge: $2.595M
Cap Savings: $7.25M