Giants clear $5.7M in cap space after cutting veteran guard

The New York Giants are slowly adding more cap space to their off-season plans, starting with $10 million in additional funds after the league announced a $255 million salary cap for the 2024 season. That is $10 million more than the Giants had originally estimated, but they have other ways of clearing space to make free agency moves and extend some of their own.

On Monday, the team officially cut offensive guard Mark Glowinski, saving $5.7 million in cap space and incurring about $1.4 million in dead money for the 2024 season.

Mark Glowinski’s Departure and Cap Space Implications

Glowinski struggled to latch on as a primary starter, but the Giants wanted to add support to the offensive line in 2022 when he originally signed a three-year deal. The 31-year-old veteran lineman played 1,169 snaps for the Giants during his first year and 521 last season, giving up 24 pressures and six sacks, splitting his time at left and right guard.

With the Giants saving $5.7 million in cap space, they now have about $38.3 million in team cap space. If the Giants elect to restructure the contracts of Dexter Lawrence and Andrew Thomas, they can open up a maximum of $25 million, which would bring their salary space to $63.3 million this off-season. Of course, general manager Joe Schoen can do plenty with that amount of money, whether it be signing a star pass-rusher and reinforcing the offensive line.

Giants’ Future Financial Flexibility and Strategic Planning

However, the Giants can open up an additional $30 million maximum next off-season by taking the out in Daniel Jones’s contract, so their salary health is rather positive and the team will have plenty of flexibility moving forward. The 2024 NFL Draft will give us plenty of answers regarding how the Giants can will continue to build the roster, but free agency will certainly play a big part in hinting at their draft plans.