Darren Waller's Retirement and Salary Cap Implications for the New York Giants
Significant Dead Cap Hit and Salary Cap Savings
According to Spotrac, Darren Waller's retirement would incur a dead cap hit of $24.5 million in 2024 for the New York Giants. This substantial charge on the team's salary cap would result from the remaining prorated signing bonus that would become dead money upon Waller's retirement.
Salary Cap Restructuring for Tight End Waller
In an effort to create salary cap space, the Giants have restructured the contract of tight end Darren Waller. Waller's current salary cap hit of $68 million in 2022 ranks just 11th among all tight ends, according to Spotrac. By restructuring his contract, the Giants have pushed some of his cap hit into future years, reducing his cap number for the upcoming season.
Significant Cap Space Creation
The Giants have successfully created $7.376 million in salary cap space after restructuring Waller's contract. This increase in available funds can be utilized to address other roster needs or sign additional players during the offseason. The team's improved salary cap situation provides flexibility in navigating the salary cap constraints and making strategic roster moves.
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