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Salary cap set at $133 million -- where do the Giants stand?

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The salary cap is at $133 million for 2014, and franchise and transition tag amounts are now set.

Hakeem Nicks
Hakeem Nicks
Raj Mehta-USA TODAY Sports

With the NFL salary cap having been set on Friday at $133 million for the 2014 season, franchise and transition tag amounts have also become official.

The chart below comes from Over The Cap.

Position Franchise Tag Transition Tag
QB $16,912,000 $14,666,000
RB $9,540,000 $8,033,000
WR $12,312,000 $10,176,000
TE $7,035,000 $6,106,000
OL $11,654,000 $10,039,000
DE $13,116,000 $10,633,000
DT $9,645,000 $8,060,000
LB $11,455,000 $9,754,000
CB $11,834,000 $10,081,000
S $8,433,000 $7,253,000
K/P $3,556,000 $3,205,000

No way the Giants, currently about $19.2 million under the cap, put a tag worth $12.3 million on wide receiver Hakeem Nicks. I can't see them using the $9.645 million defensive tackle tag on Linval Joseph, either.

It isn't out of the realm of possibility that, if they believe a deal is close, they could use the $3.556 million tag to keep placekicker Josh Brown from hitting the open market.

About the Salary Cap

From the NFLPA, here is some information about the cap and how it works.

How does that number impact each team?
The $133 million is the per club salary cap. However, each team may, at its own discretion, carry over unused salary cap room from the prior League Year. Most clubs elected to carry over Salary Cap room from 2013 to 2014. The average carry over for those teams that elected to do so was $6.1 million per club. Thus, those clubs have an average of $139.1 million to spend on player salaries in 2014.

[NOTE: The Giants had no money left to roll over to 2014]

How is the Salary Cap calculated?
The Salary Cap is calculated by taking a percentage of all projected NFL revenues, subtracting projected benefits for the upcoming season, and dividing by 32 teams.

What are team minimum cash spends?
Under the current CBA, clubs have minimum cash spending requirements. For the years 2013-2016, clubs are required to spend an average of 89% of the Salary Cap over the four-year period. League-wide, clubs must spend an average of 95% of the Salary Cap over the four-year period.

This creates a cash-spend floor, forcing historically low-spending clubs to offer overall competitive compensation for packages.