Reports: Giants Restructure Eli Manning’s Contract, Gain $6.75M In Cap Space

NEW YORK (WFAN) — Eli Manning led the Giants to a Super Bowl title in 2011. It appears he’s doing his part off the field to help ensure a repeat run.

Manning has agreed to a complicated restructuring of his contract which will create $6.75 million in cap space for the Giants, according to multiple reports.

$9 million of the quarterback’s $10.75 million salary for 2012 will be guaranteed, the New York Daily News reported.

Manning’s number against the cap dropped from $16.35 million to $9.6 million, according to the Newark Star-Ledger. His base salary will reportedly be $1.75 million this season with the remainder spread out over the final three years of his deal.

It could be the first of many money moves for the Giants, who were reportedly $9 million over the estimated salary cap for 2012.

Running back Brandon Jacobs, due $4.4 million in base salary next season, has expressed a willingness to restructure his contract — for the second straight year — to stay in New York. If the sides don’t agree, New York could decide to release Jacobs before his $500,000 roster bonus kicks in next week.

Wide receiver Victor Cruz has said he deserves a pay raise. Defensive end Osi Umenyiora is looking for a contract extension. Then there’s wideout Mario Manningham, just one of nearly two dozen unrestricted free agents for the Super Bowl champs.

What’s next for the Giants? Sound off below…

  • Nick

    I would have to disagree with you for four reasons.

    First, the vast majority of professional sports players work incredibly hard. It takes a lot of focus, commitment, and discipline to be in the kind of shape they are in and to know their plays so well that they can execute them with the speed and precision that is necessary. It takes all the more of those qualities in order to be winners.

    Second, a few decades ago professional athletes did not make a lot of money. Instead, owners were not forced to share as much of the wealth with the players, who are, after all the content in the industry that yields that wealth. Some of the most famous athletes of mid-century never made that much money while they earned their franchises millions. Isn’t it fair that they get their fair cut and don’t get exploited?

    Third, players in the NFL don’t actually get paid all that much compared to the NBA or MLB.

    Fourth, I believe that you are not appreciating the many positive aspects of team sports culture and the positive effects of role models who act like team players and show commitment to their passion. I know team sports are not for everyone, and that’s ok, but they are an incredibly valuable for a lot of youth from all kinds of backgrounds.

  • susan

    doesnt anyone besides me think these “football giants” are overpaid??i recognize that their career often is over with just one injury , but cheez louise! what do they contribute to society except a sunday afternoon of tv watching and beer drinking??”just sayin”..they make way too much money for what they do….

    • Mike

      Susan .. you sound like a COMMUNIST!. As a kid ( and i’m only 25 ) . I was never to judge anyones paycheck. God Bless them or anyone making good money

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