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The New York Giants have officially begun selling ahead of the deadline, trading big-money defensive lineman Leonard Williams to the Seattle Seahawks after the Week 8 loss to the New York Jets.
NFL Network insider Ian Rapoport announced the news, informing: “The Giants are finalizing a deal to send Pro Bowl DL Leonard Williams to the Seahawks, per me and @MikeGarafolo, giving them financial flexibility.”
Rapoport added the trade return in a follow-up post, noting: “The Giants are getting back: A 2024 2nd rounder and a 2025 5th rounder. Massive deal.”
According to Over the Cap, Big Blue was on the hook for a $32.26 million cap hit this year when it came to Williams. A post-June 1 trade could free up to $18 million in cap — although the exact financial terms of the agreement are unclear at this time.
The Giants will also incur dead money hits of $14.26 million in 2023 and $5.96 million in 2024.
Giants Likely Paying ‘All or Most’ of Leonard Williams’ Remaining Salary in Seahawks Trade: Report
Not long after Rapoport and Garafolo relayed the trade, ESPN’s Jordan Raanan noted that “[the] Giants [are] likely taking on all or most of the remaining $10 million owed to Williams this year.”
Sports Illustrated NFL insider Albert Breer confirmed Raanan’s report moments later, stating: “To facilitate [the trade], I’m told the Giants are eating a significant portion of the rest of Williams’ money for [2023].”
UPDATE: At 3:17 p.m. EST, NorthJersey.com NYG insider Art Stapleton informed that the Seahawks will be paying Williams the “vet minimum prorated over final 9 games, per sources.”
Stapleton also shared that the Giants “are responsible for the rest, and they are reworking the contract to pay that out as a signing bonus, presumably to use 2024 void year to defer number for this year.”
Overall, Breer voiced that paying most of Williams’ contract is a “smart move by NY.”
You see, in order to maximize the draft capital that they would be getting in return, the Giants decided to pay up. They got a second rounder back from the Seahawks because of that — something a Williams trade was unlikely to produce because of his contract.
“This essentially is the Giants paying for a higher pick,” Breer wrote, “which to me is a creative use of cap space that they’ve already spent this year.”
The move splits up a powerful defensive line duo of Dexter Lawrence and Williams — although Kayvon Thibodeaux has been stepping into that No. 2 pass rusher role of late.
This trade also reunites Williams with two former teammates on the defensive side: Jamal Adams (with the Jets) and Julian Love (with the Giants). It will be the first time the former first-round talent plays outside of the New York market in his career.
Giants-Seahawks Trade Nets Much Higher Return Than Potential Compensatory Pick
For those wondering why the Giants didn’t just wait on the compensatory pick that they would receive if Williams signed elsewhere in free agency, SNY’s Connor Hughes explained.
“The Giants very easily could have held on to Leonard Williams and waited for a compensatory pick,” he detailed. “Best case scenario with that: Somewhere in the late 90s.”
Instead, they netted “a selection likely in the late 50s/early 60s” according to Hughes.
Considering Williams was unlikely to return next offseason, the deal makes sense for all parties involved.
“The Giants knew before the season that re-signing Leonard Williams would be challenging,” Rapoport pointed out after the trade. “So, they signed A’Shawn Robinson in late April… who now is set to see an increase in snaps with Williams headed to the Seahawks.”
Clearly, 2-6 was never the plan heading into the 2023 season, but a good general manager has contingency routes in place.
Joe Schoen prepared the NYG organization for the possibility of a Williams trade. In the end, it occurred — and the Giants made out quite handsomely in the process.
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