Giants clear $5 million in cap space by restructuring Nate Solder’s contract

After beginning the week with less than a million in cap space, the Giants cleared $5 million by restructuring left tackle Nate Solder’s deal.

Solder, whose 2019 salary of $12.9 million was fully guaranteed, will still get the same amount of cash this year; however for bookkeeping purpose, the Giants shaved $7.5 million off his 2019 base salary, and turned that into a bonus that now becomes prorated over the remaining life of the contract starting this year.

Per Over the Cap, Solder’s prorated signing bonus, which had been $4 million per season ($16 million in total) will rise to $6.5 million in 2019-through 2021 to reflect the bookkeeping move made by the Giants to clear cap space.

Starting in 2020, Solder no longer has guaranteed money in his Giants contract. Instead, he has roster bonuses of $3 million (due on the fifth day of the 2020 league year) and $4 million (due on the fifth day of the 2021 league year) if he is still on the Giants roster.

If Solder isn’t on the Giants roster next year, the team would take a $13 million dead money hit but would save $6,5 million on the transaction.

Per Over the Cap, Solder is due a $9.9 million base salary, the aforementioned $3 million roster bonus and a $100,000 workout bonus for a total cap hit of $19.5 million.

As his remaining prorated signing bonus totals $13 million, the difference between his 2020 cap hit and the prorated signing bonus is the $6.5 million the team would save if they don’t’ have to pay Solder the roster bonus.