Getty The New York Giants could be primed for more free-agency signings after restructuring Dexter Lawrence's contract.
The New York Giants aren’t done in 2024 NFL free agency, not based on how they reworked the contract of Dexter Lawrence II to create $7.5 million under the salary cap.
Lawrence’s deal was tweaked on Thursday, March 21, when the Giants converted “$10M of his base salary into a signing bonus,” per ESPN’s Field Yates.
The Giants have restructured DT Dexter Lawrence’s contract by converting $10M of his base salary into a signing bonus.
The move creates $7.5M in 2024 cap space.
Additional cap space gives the Giants the means to make a few more decent investments within the veteran market. The timing is not lost on Dan Duggan of The Athletic, whose “antenna is now up for a signing in the near future…”
More arrivals would make sense since the Giants still have needs at cornerback, wide receiver and along the defensive line. Fixing those problems won’t be cheap, and Duggan is surprised the Giants didn’t raise more extra cash from Lawrence’s deal, “they could have created another $3.7M with a max restructure (they still can down the road — no limit on restructures).”
There are other ways to manufacture greater cap space because the Giants have another quality starter who’s a fit to have his contract restructured.
Dexter Lawrence Deal the Start of Giants’ Cost-Cutting Moves
Duggan also revealed he thought left tackle Andrew Thomas would be the first candidate for a restructure. The Giants are tethered to the fourth-overall pick in the 2020 NFL draft for another three years, but Duggan still thinks general manager Joe Schoen will adjust things with Thomas at some point.
General manager Joe Schoen instead chose to rework terms owed to Lawrence. The decision gives the Giants options now and later in the league year.
Those options include making amendments to Thomas’ fully guaranteed contract closer to the season. Waiting would let Schoen form a clearer picture of any holes the Giants might need to fill once games are being played again.
For the moment, Schoen and head coach Brian Daboll can shift their focus to still getting the most out of free agency. Fortunately, there are more than a few notable names who should still pique the Giants’ interest.
Giants Still Have Options in Free Agency
The market has slowed down, but there are still options the Giants should find intriguing. Free agents like cornerback Tre’Davious White, who knows Daboll from their days with the Buffalo Bills. White has visited with the Giants and makes sense as a replacement for veteran Adoree’ Jackson.
Further additions are needed in the secondary after strong safety Xavier McKinney joined the Green Bay Packers. White’s former teammate Micah Hyde is still available, as is ex-Denver Broncos All-Pro Justin Simmons, along with Quandre Diggs, who remains a free agent after five years with the Seattle Seahawks.
The Giants have been named a fit for Diggs by Pro Football Network’s Nick Faria. He believes Diggs can be a starter next to productive 2023 surprise package Jason Pinnock.
Ahead of the defensive backfield, the Giants could get Lawrence some help in the form of a Super Bowl-winning lineman. All of these names represent potential bargain singings for the Giants.
So does a wide receiver like Josh Reynolds or Michael Thomas. Either would be the more dynamic outside target the Giants lack.
It looks like Schoen is ready to do something about filling in the blanks remaining on his roster, thanks to Lawrence.