The New York Giants are being resourceful in creating extra cap space for themselves. They are doing all they can to help themselves out. Today, the team restructured the contract for linebacker/defensive end Matthias Kiwanuka.
Kiwanuka was due to make $2.95 million in base salary. That is now down to $1.45 million. He had a guaranteed $1.5 million of his base salary converted into a signing bonus. His cap number drops from $5.125 million to $4.125 million. His cap hit will increase for 2014 and 2015, however, the team can renegotiate that as well.
I bet this isn’t the last restructure of a contract the Giants do this off-season. Corey Webster and David Diehl are going to probably end up doing it as well if they want to stay. Eli Manning may do so as well in March to help the team. Even though Jerry Reese said on Saturday that the team is okay in their cap room, you know they are going to need more.
Victor Cruz, Stevie Brown and Andre Brown are restricted free agents. Kevin Boothe, Will Beatty and Martellus Bennett are unrestricted free agents. The team is going to have to be a little creative in order to help themselves keep players and add new ones to the mix, including their draft picks.
Kiwanuka is going to have to play better than he did last season. He’s going to be counted on more at his natural position of defensive end, which is smart on the Giants part. As I said, it’s another move of many that will help the Giants add to their cap room.