[EmpireWF]

This is always an interesting time of the NFL year as GMs across the league begin preparing for free-agency and all the other parts of the off-season. Of course, the Giants don't have an official GM (technically) as of this posting but anyway, let's take a look at the 2007 New York Giants cap situation. All numbers you see here will be taken from an Admin's research at the Big Blue Wrecking Crew boards.

2007 CAP Max = 109 mil
Currently comitted = 101 mil for 51 players
Draft Reserve Estimate = 3.5 mil
Savings from Tiki Retiring = 4.1 mil
Available CAP Space = 9.1 mil

The top 5 CAP hits are:

Eli 12.5 mil
Strahan 7.5 mil
Petigout 6.8 mil
McKenzie 5.3 mil
Buress 4.9 mil

Restructuring of Eli is a given. I estimate a 6 mil savings will be the end result which will increase the CAP space to 15.1 mil.

1. If Strahan retired or cut prior to June 1st the saving in actual dollars is 4.250 mil. The CAP savings in 2007 would only be 1.3 mil. However, there would be another 4 mil in real dollars saved in 2008 and the Giants would regain 7.4 mil in CAP space in 2008. Thus, between Tiki and M.S. the Giants would regain over 14 mil in CAP space in 2008. I would be asking M.S. to restructure his remaining two years to be much more CAP friendly or tell him to retire. Alot will depend on his surgery and recuperation. If it takes an extended time to recuperate, we may very well see him retire. However, that is not likely to happen until after June 1st and would likely involve an injury settlement.
2. Cutting Petigout prior to June 1st would save 5 mil in actual dollars and generate a 1.5 mil savings in 2007 CAP space. Perhaps more importantly, 6.8 mil would be saved in 2008 CAP space. Hence, the retirement/cut of LP, Tiki and M.S. generates over 21 mil in additional CAP space in 2008. With all that said, restructuring L.P. is far more likely.
3. Cutting Emmons prior to June 1st would generate a 2 mil CAP savings in 2007 and a 3.5 mil savings in 2008. 5 mil would be saved in actual dollars.
4. Tim Carter's CAP is 1.15 mil. Doubtful cut.
5. Frank Walker is a restricted free agent and is not currently included in the CAP.
6. Chad Morton occupies only 845k of the CAP and at most would be a 720k savings if cut after June 1st. Prior to June 1st his savings would be 470k.

1. As Eli's contract stands now, his CAp number for 2007 is 12.5 mil. It then drops down to around 4 mil in 2008 and 2009 and 2.8 mil in 2010. It is all academic since Eli can void the last two years. Therefore, the Giants are not going to give Eli major new money without extending the contract.
2. The key is that the Giants could save some CAP space while giving Emmons a chance to show something prior the beginning of the season and play for another year. They can also structure his contract so that he gets the veteran's minimum which is around 800k with incentives that are earned based on playing time. At 800k, Emmons could be a good backup option.
3. I think that restructuring McKenzie is a possibility since he is still young. His contract is the type that they are likely to keep in reserve if they need extra CAP space. Otherwise, I do not think we will see anything happen until he goes beyond that breakeven point when cutting him becomes a viable option. That would not happen until 2009.
4. Demps will be with us for at least one more year unless his play deteriorates during camp and pre season. He definitely improved as the 2006 season wore on.
5. O'Hara will likely be able to get better money as a free agent elsewhere. I think the Giants would like to resign him but he has to accept a modest bonus and average around 2 mil a year CAP wise for at least three years of his new contract. There could be some backloading which simply means that his salary would increase significantly in the last two years of the contract with the expectation that he would be cut, retired or the contract would be restructured so that the big salaries are never actually paid.

Here are the 2007 CAP numbers for defensive players.

Stahan 7.4 mil
Pierce 4.5 mil
Osi 4.2 mil
Emmons 4 mil
Robbins 3.1 mil
Demps 2.2 mil
McQuarters 2.1 mil
Arrington 2 mil
Joseph 1.3 mil
Madison 1.7 mil
Webster .7 mil
Wilson RFA

All other players have a CAP # under 1 mil.

Again, thanks to the BBWC Admin for the info here

The first guy who comes to mind who may be cut is LB Carlos Emmons. He's nothing like the player he was years ago due to age and injuries. If cut, he could provide has much as $2 Million in cap space for 2007. I doubt LaVar Arrington is cut since he'll only be $2 Million against the cap, his deal is already driven on performance issues so I'd keep him.

There's also a possibility that whomever the new GM is, they will try to restructure the deals of OT Luke Pettigout, OT Kareem McKenzie and QB Eli Manning for some cap relief in 2007 and moreso in 2008.

Safety Gibril Wilson is a restricted free agent so the Giants will have the opportunity to match any offer he receives from another team. I doubt any team would be willing to give up major draft choices for him, so I assume he'll stay.

As it stands now, it looks like the only starters we may lose are Center Shaun O'Hara (unrestricted free agent), Outside Linebacker Carlos Emmons (possible cut candidate) and Kicker Jay Feely (unrestricted free agent) and of course Runningback Tiki Barber (retirement).