The Giants have reportedly placed the franchise tag on Jason Pierre-Paul, and they’ve forfeited a tremendous amount of cap space to do so.
What do Giants cuts mean for JPP?
The Giants were projected to have $31.5 million in available salary cap space for this coming season, according to Over The Cap. The projected franchise tag rate for defensive ends is $17 million. That means 54 percent of the Giants’ cap space is now tied up into Pierre-Paul indefinitely, a decision that will likely have a significant impact on how the Giants approach the free agent market next week.
The Giants have about $14.5 million in cap space now, based on the projections. Teams usually need about $5 million in cap space for their incoming rookie classes, and long snapper Zak DeOssie’s new deal would also cause a shift in the projection, albeit not a significant one.
The NFL and NFLPA have not yet announced the official 2017 salary cap, as well as franchise tag rates.
Pierre-Paul’s projected $17 million tag tender is guaranteed, and immediately counts against the Giants’ cap in full. If the team was to come to a long-term contract with him before the league-mandated July 15 deadline to arrive at such an agreement, the deal would decrease Pierre-Paul’s 2017 cap hit, and likely by a significant amount.
However, until a deal is struck, the $17 million hit remains on the cap, and the Giants would need the extra space next week, not in mid-July, in order for it to have the most impact on this year’s free agent crop.
The Giants do have some potential cuts available to them that would free up additional space.
James Kratch may be reached at jkratch@njadvancemedia.com. Follow him on Twitter @JamesKratch. Find our Giants coverage on Facebook.
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