Giants general manager Joe Schoen all but confirmed that the team plans to release wide receiver Kenny Golladay after an underwhelming two-year run for the once-star pass-catcher in New York.
Speaking to reporters Wednesday, Schoen said that the Giants are likely to “take our medicine this year” regarding Golladay, per ESPN’s Jordan Raanan. The franchise’s GM implied that he expects the team to cut the 29-year-old receiver before June 1 and take the full cap hit this year, rather than spread out the hit into 2024.
Releasing Golladay would save New York approximately $6.7 million against the cap in 2023, according to Spotrac, but the team would still eat $14.7 million in dead money this year.
Schoen’s comments add to an earlier report from ESPN’s Adam Schefter that the Giants planned to release Golladay on March 15—the first day of the new league year.
Golladay, who is poised to enter the third year of his four-year deal signed in 2021, has struggled since arriving in New York as a star that led the league with 11 receiving touchdowns with the Lions in ’19 before an injury-ridden ’20 campaign. After hauling in just 37 receptions for 521 yards and no touchdowns in his first year with the Giants, the former Pro Bowler fell further down the depth chart this past season, ending the campaign with just six catches for 81 yards and one score.
Schoen and the Giants’ front office have been busy in the last 36 hours, inking quarterback Daniel Jones to a multi-year extension and placing the franchise tag on running back Saquon Barkley. Next up will be finding a top receiver to round out the offense as the group eyes a return trip to the playoffs in 2023.
