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Giants re-structure Sterling Shepard’s contract, continue clearing cap space

Shepard latest player to have his cap number for 2021 lowered

Cleveland Browns Training Camp Photo by Nick Cammett/Diamond Images via Getty Images

In their latest move to clear salary cap space before the top 51 rule expires on Thursday, the New York Giants have re-structured the contract of veteran wide receiver Sterling Shepard.

The Giants also re-structured the contract of defensive backa Logan Ryan and Josh Jackson this week. In Ryan’s case, the Giants converted most of the $5.million base salary he was set to make to a signing bonus. His cap hit has apparently been lowered from $7 million to $4.075 million for this season.

The Giants have also reached injury settlements with a number of players including Austin Mack, Colke Hikutini, Montre Hartage and Alex Bachman.

In Shepard’s case, the re-structure perhaps makes it more likely that the veteran wide receiver will be with the Giants beyond this season. He is currently in the second year of a four-year, $41 million contract, and pushing more money into the future gives the Giants more reason to keep him.