Wilson further reports that Banks’ 4-year contract is worth $13.579 million (plus a 5th year option), and $6.875 million signing bonus and the contract is fully guaranteed.
Banks’ contract, which includes base salaries of $750 thousand, $1.367 million, $1.984 million, and $2.601 million shows the wisdom of selecting premium positions early in the draft. The top cornerbacks in the NFL count nearly $20 million per year against the salary cap, and even the 15th highest-paid cornerback (Taron Johnson, Buffalo Bills), counts $9.25 million against the cap in 2023.
Banks was widely considered a steal when the Giants traded up one spot with the Jacksonville Jaguars to select him at 24th overall in 2023 NFL Draft. At 6-foot and 197 pounds, with 31 3/8 inch arms and explosive athleticism, Banks has the traits necessary to play tight man coverage at the NFL level and is expected to step in and start immediately opposite Adoree Jackson.
Only C John Michael Schmitz, the Giants’ second round pick, remains unsigned as of this writing.