The New York Giants and veteran offensive tackle Nate Solder agreed to a restructured contract last week, but it turns out the deal was more of a pay cut. And a substantial one at that.
Initially, it was reported that Solder’s restructured deal would result in a salary reduction of $4 million and a total cap savings of $6 million. However, when filed with the NFLPA this week, it became evidence that Solder’s deal actually helped the Giants in a much bigger way.
Dan Duggan of The Athletic broke the deal down, noting that Solder’s 2021 salary has been cut to $3 million fully guaranteed with a cap charge of $9.5 million. In total, that freed up $7 million in cap space for the Giants.
In 2022, Solder’s salary has also been cut to $3 million, none of which is guaranteed. His $4 million roster bonus has also been eliminated and the overall cap hit has dropped from a projected $18 million to just $7 million.
Finally have the terms on the Nate Solder pay cut and it's even better for the Giants than initially expected. Solder's 2021 salary has been cut to $3M, which is fully guaranteed, per source. That's down from $10M. Cap charge is $9.5M, a $7M savings.
— Dan Duggan (@DDuggan21) March 22, 2021
So, it's essentially a new two-year, $6M deal with $3M guaranteed (but the remaining $10.5M in bonus prorations from the previous deal still count on the cap). That's a STEEP pay cut.
— Dan Duggan (@DDuggan21) March 22, 2021
That’s an admirable decision by Solder. He likely could have left the Giants, ate up a bunch of dead cap and signed for the same or more elsewhere, but he opted to do the organization a solid instead.
A tip of the cap is deserved here.
Meanwhile, the Giants finalized several other contracts in recent days, including that of fullback Cullen Gillaspia, who signed a one-year deal worth $850,000 with no guarantees.
Meanwhile, wide receiver C.J. Board signed a one-year, $1.02 million extension with $50,000 in total guarantees.
