NEW YORK — The Giants began their cost-cutting on Wednesday night by releasing two veterans: wide receiver Golden Tate and linebacker David Mayo, according to sources.
Tate, 32, is gone two years into a four-year, $37.5 million contract that included $23 million fully guaranteed at signing in 2019. GM Dave Gettleman traded Odell Beckham Jr. and signed Tate in his place.
It would be an understatement to say it didn’t work out.
Tate served a four-game PED suspension to open his first Giants season. Then last fall he got benched for a game at Washington and demoted to Joe Judge’s scour team in practice after showing up his teammates and demanding more targets in a loss to Tampa Bay.
Tate’s release was expected, especially with the NFL’s salary cap dropping due to the pandemic’s financial shortfall. Cutting him clears $6.1 million off cap the Giants’ 2021 cap.
The Giants also cut Mayo one year into a three-year, $8.4 million contract with $3.5 million guaranteed. That was also expected, as it clears $2.3 million off the 2021 cap and removes a player whose lack of speed and impact does not fit the team the Giants now are trying to build.
