Giants cut WR/special teams weapon Cody Core ahead of 2021 season

Cody Core’s time in a Giants uniform has concluded as of now. The organization announced the release of the receiver on Monday.

The cap casualties continue for the New York Giants.

On Monday, the organization announced via its official Twitter account that it had released wide receiver and special teams weapon Cody Core. The 26-year-old proved to be a reliable gunner on the punt cover team two years ago but missed the entire 2020 campaign after tearing his Achilles last August.

We have released WR Cody Core

?: https://t.co/gOAlwo8fLY pic.twitter.com/BY1xL6Kfcb

— New York Giants (@Giants) March 8, 2021

This move clears $2 million in cap space, but there’s a chance Core returns at some point, per ESPN’s Jordan Raanan. After all, he was reliable on special teams, Joe Judge’s area of expertise as a former coordinator in New England.

The Giants cut WR Cody Core. He was due a $500K bonus in the coming weeks. Set to count $2M vs cap. Currently rehabbing a torn Achilles. Still a good chance he returns. “Door still open,” per source. Giants liked what they saw this summer, both on special teams and as WR.

— Jordan Raanan (@JordanRaanan) March 8, 2021

This isn’t the first cap casualty this offseason for the Giants, a team that currently owns a little over $13 million in available cap space and needs to find ways to retain both Leonard Williams and Dalvin Tomlinson.

Just last week, the team released wide receiver Golden Tate (saved over $6.1 million in cap space) and inside linebacker David Mayo (saved $2.3 million). There’s a possibility, in the coming days, right guard Kevin Zeitler might be next. Parting ways with the veteran offensive lineman would save the team $12 million in cap space, a financial move that could prove to be extremely crucial as the free agency period awaits.

The franchise tag may be out for both Williams and Tomlinson, given the potential price of either. Williams would receive 120% of his 2020 salary, which may end up being a total of $19.4 million or $21.4 million (his franchise tag-related grievance from last year is still unresolved, so his 2020 salary will either be $16.1 million or $17.8 million). Tomlinson’s franchise tag price as a defensive tackle is projected to be $14.2 million, per OverTheCap.

The franchise tag deadline, as of right now, is Tuesday of this week.

To re-sign either, the Giants may need to provide an average annual value of around $20 million for Williams and $10 million for Tomlinson — tasks that won’t be simple.