Giants Release Will Beatty, Geoff Schwartz; Jon Beason Retires

NEW YORK (CBSNewYork) -- The Giants on Wednesday parted ways with three high-priced veterans who have struggled with injuries, freeing up some extra cash to spend on a possible roster makeover.

The team announced it has released offensive tackle Will Beatty and guard Geoff Schwartz and that linebacker Jon Beason is retiring. The moves will free up nearly $12 million in salary cap space.

The Giants acquired Beason in a trade with the Carolina Panthers in 2013 and then signed him to a three-year, $17 million contract the following offseason. Beason, 31, however, was plagued by injuries over the past two years, playing in just nine games.

Beatty, a second-round draft pick in 2009, was the Giants' starting left tackle from 2011-14, but missed all of last season with a torn pectoral muscle suffered while lifting weights in the offseason.

He took to Twitter on Wednesday to show his appreciation to the Giants' owners and fans.

The Giants spent a first-round draft pick last season on Ereck Flowers, who started 15 games at left tackle as a rookie.

New York signed Schwartz, who previously played for the Chiefs, Vikings and Panthers, to a four-year, $16.8 million deal in 2014. But he, too, battled numerous injuries -- a broken toe, a broken ankle and a broken leg -- playing in just 13 games over two seasons.

Schwartz, too, thanked the Giants on Twitter and added that he's now healthy and plans to continue his career.

The Giants, who finished 6-10 last season, will enter free agency with plenty of money available to spend. They will now be nearly $55 million under the salary cap, more than any team other than the Jaguars and Raiders, according to OverTheCap.com.

Teams can begin contacting free agents starting March 7.