The New York Giants made a bold financial move this week, restructuring Andrew Thomas’ contract to clear immediate cap space.
In theory, this sounds like a standard roster maneuver, but in practice, it creates long-term risks the Giants can’t ignore.
By restructuring, the Giants freed $12.2 million in space but added $3 million in dead money to every remaining season.
That decision complicates their financial flexibility down the road, especially if Thomas continues battling injuries as he has recently.
Jul 25, 2024; East Rutherford, NY, USA; New York Giants center John Michael Schmitz Jr. (61) takes a water break alongside offensive tackle Andrew Thomas (78) during training camp at Quest Diagnostics Training Center. Mandatory Credit: Lucas Boland-USA TODAY Sports
Credit: Lucas Boland-USA TODAY Sports
A history of injuries clouds the move
Andrew Thomas has been one of the NFL’s best tackles when healthy, but his availability has been anything but reliable.
Last season, Thomas played only 416 snaps before suffering a lower-body injury that forced him to miss significant time again.
In 2023, he logged just 576 snaps, and only once in his career has he played over 1,000 in a single season.
The Giants are betting heavily on Thomas reversing course, despite a history that strongly suggests durability remains a massive concern.
Giants tie themselves closer to Thomas
The restructure means that if the Giants cut bait after 2026, the dead money hit rises from $9 million to $13.8 million.
That’s no small figure, particularly for a franchise already juggling big-money deals with Dexter Lawrence and Brian Burns.
By maxing out the restructure, they effectively doubled down on Thomas, placing faith in his ability to stay on the field.
It’s a dangerous gamble, given that his most recent season ended with 16 pressures and four sacks allowed in just six games.
Why the Giants still took the risk
Despite the long-term concerns, the Giants likely felt they had no choice given their immediate cap situation this season.
They wanted to preserve flexibility from other big contracts, especially Lawrence and Burns, to have emergency resources available later.
Restructuring Thomas offered the cleanest path to savings, even if it came with the added baggage of long-term financial risk.
Now, the Giants sit with only about $3 million in cap space — barely enough to handle routine midseason roster adjustments.
Sep 8, 2024; East Rutherford, New Jersey, USA; New York Giants offensive tackle Andrew Thomas (78) pass protects against Minnesota Vikings linebacker Blake Cashman (51) during the second half at MetLife Stadium. Mandatory Credit: John Jones-Imagn Images
Credit: John Jones-Imagn Images
Week 1 availability remains a question
Thomas has recently ramped up practice participation, but there’s no guarantee he’ll be ready to handle a full NFL workload.
Reports suggest the team is still monitoring how his body responds after practice, which hardly inspires confidence about Week 1.
If the Giants rush him back prematurely, they risk another setback that could derail both Thomas’ season and their offensive line.
The smarter play might be to sit him early, even if it means relying on less proven depth options against Washington.
A calculated gamble with high stakes
The Giants’ decision to restructure Andrew Thomas reflects both desperation and belief — a risky cocktail for any franchise to swallow.
They need him to regain form, anchoring an offensive line that collapses when he’s absent, but history suggests caution is warranted.
If Thomas stays healthy, this restructure will be forgotten as a shrewd move. If not, the cost will hit them down the road.