Eli Manning Restructures Contract, Saves New York Giants $6.75 Million
The New York Giants needed to come under the cap before March 13, and with the release of Brandon Jacobs today and the news that Eli Manning saved the team almost $7 million breaking yesterday, they may have already done so.
Reports surfaced Thursday that Eli and the Giants restructured his contract so the team could not only get under the cap, but maybe be able to keep some people around after their Super Bowl championship season.
The Giants simply reduced Eli’s base salary from $10.75 million to $1.75 million. You might be jumping out of your seat by now. Relax. He will still get that money, but the Giants are just going to front him the cash with $9 million of guaranteed money.
That’s putting a lot of faith in your elite quarterback.
The Giants are likely not done slashing contracts and releasing players. They still have 19 unrestricted free agents to take care of (signed Domenik Hixon, franchised Steve Weatherford), as well as find possible solutions for holes in free agency, which starts next week.