Darius Slayton
Brian Fluharty | USA TODAY Sports

Giants general manager Joe Schoen has finally gotten something out of holding onto a contract he has to shed.

Wideout Darius Slayton has agreed to a pay cut in order to keep his roster spot, according to Newsday. His $2.5 million salary has been whacked down to the league minimum ($954,000) with incentives.

Cap implications. The move saves the Giants about $1.6 million in much-needed cap space. And it’s a win for Schoen after he held onto cornerback James Bradberry this offseason while seeking a trade, only to run out of time and cut him. It appeared history would repeat itself with Slayton, albeit on a much smaller scale. But the Giants got something figured out before it dragged on too long.

The bigger picture. Slayton is buried on the depth chart. Will his current spot prove attributable — at least in part — to the financial clouds that have now cleared? Slayton led the Giants in receiving yards in 2019 and 2020. And he had eight touchdown catches in 2019 as a rookie. Which also happened to be quarterback Daniel Jones’ best year, but who’s keeping score.

The Giants’ receiving corps is far from inspiring, too. Kenny Golladay has been a disaster. Kadarius Toney has yet to prove he can stay healthy. Sterling Shepard is coming off a serious injury. Wan’Dale Robinson is a rookie. If Slayton can stay on the field himself — he was banged up this summer — he should have opportunities. Because the Giants would have just cut him if he won’t get them, right?

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James Kratch can be reached at james.kratch@xlmedia.com. Follow him on Twitter @JamesKratch.

James Kratch is the managing editor of ESNY. He previously worked as a Rutgers and Giants (and Mike Francesa) beat reporter for NJ Advance Media.