The 2021 NFL salary cap has been at $182.5, per NFL.com. That is down nearly $16 million from the $198.2 million cap for 2020, due to revenue lost because of the COVID-19 pandemic.
Where does that leave the New York Giants? Over The Cap lists the Giants $7.396 million over the $182.5 million cap. That figure for the Giants includes a $19.351 million franchise tag charge for Leonard Williams.
The Giants have already parted with veterans Golden Tate, David Mayo and Cody Core, and re-structured the contract of tight end Levine Toilolo to create salary cap space. The Giants are one of 10 teams currently over the cap. Teams must be in cap compliance by March 17, when free agency and the league year start.
The Giants have decisions to make regarding veteran offensive linemen Nate Solder and Kevin Zeitler. Cutting Solder would save them $6 million against the cap, while moving on from Zeitler would save $12 million.
The Giants are hoping to get Williams’ cap number down by signing him to a long-term deal, preferably before the 17th so they could free up money to acquire other players. GM Dave Gettleman said Tuesday that having Williams on a franchise tag ‘certainly makes it a little more difficult, but we’ll operate, and we’ll manage.”