The New York Giants have restructured the contract of Pro Bowl left tackle Andrew Thomas, freeing up approximately $3.3 million in salary cap space.
The Giants have converted $4.175M of LT Andrew Thomas’ base salary into a signing bonus, creating $3.34M in 2024 cap space.
The team now has around $18M in cap space. Plenty of room to operate with.
— Field Yates (@FieldYates) August 19, 2024
Thomas signed a five-year, $117.5 million contract extension last July that included a $15 million signing bonus with $67 million in guaranteed money.
Thomas’ average annual salary over the life of the contract is $23.5 million. He is the second-highest-paid player on the Giants’ roster after quarterback Daniel Jones ($40 million AAV).
Yates is estimating that the Giants will have approximately $18 million in available cap space after the move, but Over The Cap and Spotrac are reflecting much less than that — about $10 million.
That will still give New York the flexibility to make a move or two before the beginning of the regular season, whether it be via free agency or a trade.
