The New York Giants have a bit more breathing space under the salary cap. That’s thanks to star left tackle Andrew Thomas agreeing to a restructured contract on Thursday morning. The move creates $6.46 million in cap space for 2026.
The news was first reported by Adam Schefter of ESPN.
The contract restructure, considered a “simple restructure” converts roughly $15.9 million in base salary into signing bonus. The move doesn’t make a difference to Thomas, who will see the guaranteed money either way.
However, it allows the Giants to spread the cap hit out over the life of the contract, creating cap space for the 2026 season.
The Giants were cash-strapped prior to the move, and were at roughly -$3.659 million in “effective” cap space per OverTheCap.
To be clear, the Giants were already under the salary cap, with $11.24 million in actual cap space. However that’s for their Top 51 contracts and doesn’t include the contract yet to be signed by No. 5 overall pick Arvell Reese. Reese’s contract will be worth (roughly) $48.586 million for 4 years, with an expected cap hit of $8.833 million this year. Thomas’ restructure will help the Giants sign Reese and absorb his cap hit while maintaining financial flexibility to cope with injuries throughout the season.
