Giants redo Mathias Kiwanuka's deal, create more cap space
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| Giants linebacker Mathias Kiwanuka had 37 tackles and three sacks last season. (USATSI) |
The Giants have restructured linebacker Mathias Kiwanuka's contract, saving the team $1 million against the 2013 salary cap, according to multiple reports.
The new deal converts a $1.5 million guaranteed portion of Kiwanuka's salary to a signing bonus, dropping his cap number from $5.125 million to $4.125 million, NJ.com reported. But his cap number rises by $500,000 in both 2014 and 2015.
Kiwanuka, 29, signed a three-year extension last spring. He had 37 tackles and three sacks last season.
The Giants earlier cut running back Ahmad Bradshaw, defensive tackle Chris Canty and linebacker Michael Boley, saving $14 million in cap space.
New York is believed to be $5 million-$6 million under the 2013 cap, according to the New York Daily News. The cap is projected to be about $121 million.
The News also reports the team is likely to place a “first-round tender” on restricted free agent wideout Victor Cruz. Under that scenario, the Giants would pay Cruz about $2.9 million for 2013 and have the right to match offers he gets from other teams. If they didn't match, the Giants would get a first-round pick as compensation.
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