No one can deny general manager Jerry Reese and his assistant, Kevin Abrams, spread the Giants’ available salary-cap money around so evenly that the dollars trickled down to fill needs at multiple positions. With Reese making the final call and Abrams crunching the numbers, the Giants, as of early Thursday night, signed 23 players in free agency for contracts that total nearly $115 million.
Was this voodoo economics? Did the Giants circumvent the salary cap? Of course not. They headed into the process in a more advantageous financial situation than past years, with upwards of $25 million to spend under the $133 million cap for 2014, and they used it judiciously. Consider that the richest deal they wrote — five years, $35 million for cornerback Dominique Rodgers-Cromartie — will cost the Giants only $2.7 million in cap space this year. The highest 2014 salary-cap number ($3.1 million) belongs to linebacker Jon Beason, one of 10 of their own players the Giants re-signed.
Of the 13 newcomers signed, seven were given one-year contracts, always a sign they had no more lucrative options. Of the 10 players re-signed, six received one-year deals. Again, a sign these players were not in high demand.
Rodgers-Cromartie gets $14 million in guaranteed money, but the structure of his contract has him making a base salary of only $730,000 this season, with the values rising quickly ($4.23 million in 2015, $5.98 million in 2016, $6.48 million in 2017 and 2018). Given that he turns 28 on Monday, it’s not a huge financial risk by the Giants, especially considering the quality of the player, his age and the importance of the position he plays.
The smart planning will not cost the Giants down the road, as 13 of the 23 contracts expire after the 2014 season and, other than Rodgers-Cromartie, none of the contracts will be hindrances if the production on the field doesn’t match the financial outlay.
As for what comes next, the Giants have about $3.5 million in cap space remaining, but will gain $5 million on June 1 after the release of David Baas hits the books. That’s plenty of money to sign their draft picks, perhaps sign another inexpensive veteran or two and still have enough to buy an early-bird special dinner.