The Kenny Golladay era is over in New York as the Giants plan to release the wide receiver. According to ESPN’s Adam Schefter, the Giants will release Golladay on March 15, the first day of the NFL’s league year.
The Giants will save $6.7 million against their salary cap by releasing Golladay on March 15. However, the Giants still owe Golladay a guaranteed sum of $4.5 million.
Giants are releasing WR Kenny Golladay on the first day of the league year, March 15, per source.
By waiting until March 15, they will save $6.7 million against their salary cap.
— Adam Schefter (@AdamSchefter) February 28, 2023
Kenny Golladay Signed Huge Deal In 2021
After four years with the Detroit Lions, Golladay opted to sign a four-year, $72 million contract with the Giants in 2021. Golladay was signed to be the tall, vertical threat for quarterback Daniel Jones.
In two years with the Giants, Golladay failed to live up to expectations.
In 2021, Golladay finished the year with a disappointing 37 receptions, 521 yards, and zero touchdowns, a far cry from 2019 when he led the NFL in touchdown receptions with 11.
2022 did not get any better as the dropped passes and injuries plagued Golladay’s season. By the end of the season, Golladay was not even in the gameday rotation for wide receivers. Golladay finished 2022 with six catches, 81 yards, and one touchdown, his only score with the team.
Due to the lack of production, releasing Golladay was expected to occur, especially since the wide receiver would have counted for $21.4 million against the cap.
Giants Enter Pivotal Offseason
The Giants enter the offseason fresh off of an excellent season, highlighted by a win over the Minnesota Vikings in the Wild Card Round.
After the Golladay release becomes official, the Giants will have around $54 million in cap space.
The two biggest priorities the team needs to address are the contracts of Jones and Saquon Barkley, who are both free agents.
The Giants’ front office has stated they would like to bring back both Jones and Barkley. Jones is looking to receive a contract in the neighborhood of $35 million per year, while Barkley will seek close to $15 million per year.
If the Giants cannot make a deal with either player by March 7, Jones or Barkley will most likely receive the franchise tag.
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