The New York Giants continued their bookkeeping on Tuesday, restructuring the contract of team captain Logan Ryan.
The decision to convert a portion of Ryan’s base salary into a bonus (spread out over his remaining contract) comes less than 24 hours after the Giants also restructured the contract of defensive back Josh Jackson.
The #Giants converted most of the base salary of DB Logan Ryan into a signing bonus, creating more cap space heading into the season, source said. Ryan, recently voted a captain, spreads the signing bonus over the remaining years of his contract for cap purposes.
— Ian Rapoport (@RapSheet) September 7, 2021
It’s unclear exactly how much salary cap space the Giants created by moving around some of Ryan’s money, but it’s unlikely being done to make additional signings. Rather, the team was operating with very limited space (some reports even suggested they were over) and are likely preparing for events down the road.
This is unlikely to be the final contract adjustment of the year. Expect Giants assistant general manager Kevin Abrams and his team to clear additional room, including coming to agreements on injury settlements with players on IR.
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