The New York Giants are currently in the midst of gutting their roster in an effort to clear $40 million in salary cap space. Already they’ve released tight end Kyle Rudolph and running back Devontae Booker, and now wide receiver Sterling Shepard is in their crosshairs.
Cutting Shepard is not a logical option for the Giants, who would eat just under $8 million in cap space just to save $4.5 million. So as an alternative approach, general manager Joe Schoen & Co. have asked Shep to take a “significant” pay cut.
Ryan Dunleavy of the New York Post reports:
The Giants asked receiver Sterling Shepard to take a significant pay cut in order to return on a shortened one-year contract next season, according to a league source.
It is unclear exactly how much Shepard, 29, was asked to reduce his salary from $8.475 million, but it is expected to be close to the league minimum for a player with six years of service time ($1.035 million).
Shepard is currently on the books for $8.475 million in 2022, which results in a cap hit of $12.495. He has two years remaining in total on his four-year, $41 million deal that was signed in 2019.
More to come…
