Giants restructure S Logan Ryan’s contract (Report)

The Giants create some additional cap flexibility.

NFL Network’s Ian Rapoport reported Tuesday morning the Giants converted part of Logan Ryan‘s base salary into signing bonus money.

This helps create some cap room for the organization with the regular season approaching. The Giants take on the Broncos at 4:25 p.m. ET this Sunday afternoon.

The #Giants converted most of the base salary of DB Logan Ryan into a signing bonus, creating more cap space heading into the season, source said. Ryan, recently voted a captain, spreads the signing bonus over the remaining years of his contract for cap purposes.

— Ian Rapoport (@RapSheet) September 7, 2021

Dan Duggan of The Athletic reports the financial move should add approximately $2 million to Ryan’s cap hits in both 2022 and 2023, the final two years of his current contract. The veteran defensive back agreed to a three-year extension last December.

Ryan’s base salary was $5.5M. This should add about $2M to Ryan’s cap hits in 2022 and 2023 https://t.co/9BR8nNpZ3X

— Dan Duggan (@DDuggan21) September 7, 2021

Another minor restructure for the Giants. …

Logan Ryan's scheduled salary for 2021 was $5.5M. Depending on the details, this probably clears about $4M in cap space. The Giants were only around $3.5M under the cap, per NFLPA records. https://t.co/8uVkEiDCrl

— Ralph Vacchiano (@RalphVacchiano) September 7, 2021

Increasing the amount of available cap room could assist the Giants with any sort of emergency throughout the 17-game slate, such as if a free agent needs to be signed to help fill the void left by an injured starter.