The New York Giants released a veteran defensive back on Thursday but it wasn’t the one everyone expected.
Safety Logan Ryan, a defensive captain, was the player let go, not cornerback James Bradberry, who the Giants are still hoping to trade.
Ryan announced his release and said his goodbyes via Twitter. The Giants later confirmed the transaction.
Thank You NY ❤️ Captain Log Out 🤙🏾 pic.twitter.com/Pl6m2Y3nJC
— Logan Ryan (@RealLoganRyan) March 17, 2022
Originally, it appeared the Giants stood to gain just $750,000 in salary cap relief against more than $11.4 million in dead cap. Even as a post-June 1 cut, New York was slated to eat more than $8 million in dead cap.
As it turns out however, Ryan’s 2022 salary would not become guaranteed until March 19. As the result of his release, the Giants save around $6.3 million in cap space and eat a dead cap hit of $5.95 million.
Logan Ryan is getting released by the New York Giants, a source confirms (as his social media indicated). The move saves the Giants $6.3 million.
— Jeremy Fowler (@JFowlerESPN) March 17, 2022
Logan Ryan’s salary wasn’t going to be guaranteed until March 19. So the #Giants save around $6.3 million with a $5.95M dead cap hit. https://t.co/2xuV07Sdnt
— Zack Rosenblatt (@ZackBlatt) March 17, 2022
The dead cap is still significant, but that’s a pill general manager Joe Schoen has to swallow. It’s tough to release Ryan — especially if a pay cut was requested one year after his extension — but the band-aid must come off. The Giants have to hit the reset button.
Unfortunately, Ryan was a casualty.
