With NFL free agency set to begin March 9, let’s take a look at the Giants’ salary cap situation, as John Harbaugh takes over personnel control.
It’s also worth examining who Harbaugh might cut (or trade) to free up more cap space.
At this point, the Giants have just $5.1 million in cap space, according to overthecap.com’s estimate, which is based on a projected per-team cap of $303.5 million.
Obviously, Harbaugh will make some cuts, to free up more cap space.
First of all, could he trade edge rusher Kayvon Thibodeaux, who is entering the final year of his rookie contract? It’s certainly possible. Doing that would free up $14.7 million (Thibodeaux’s fifth-year option figure), with no dead money attached.
A Dexter Lawrence trade is much less likely. But if that happens, the Giants would free up $13 million in cap space, albeit with $13.9 million in dead money attached to the move.
Here are some potential cuts to watch:
• MLB Bobby Okereke ($9 million savings, $5.4 million dead money): He will be 30 when next season opens. It’s the final year of his contract. Will the Giants bring him back? It’s debatable. He did not play well last season. In 2024, he graded 74.9 overall, according to Pro Football Focus’ metrics. In 2025, he was at 56.3. In run defense, he dipped from 71.8 to 45.5. In coverage, 68.2 to 65.2. He was healthy this past season, after playing 12 games in 2024. But he didn’t thrive, as he was especially bad against the run. Not ideal for an inside linebacker.
• LG Jon Runyan ($9.25 million savings, $2.5 million dead money): He has mostly flopped since Joe Schoen signed him in free agency before 2024. With a new, Harbaugh-led regime in place, that puts Runyan on thin ice for the final year of his contract in 2026. His PFF grades continued to lag in 2025 — 52.9 overall, 60.6 in pass blocking, 49.2 in run blocking. In 2024, he graded 56.1, 62.6 and 52.3.
• RB Devin Singletary ($5.25 million savings, $1.25 million dead money): No chance he stays. Before Cam Skattebo’s devastating injury, Singletary was mostly a non-factor, behind Skattebo and Tyrone Tracy.
• K Graham Gano ($4.5 million savings, $1.25 million dead money): Another sure-thing cut. Another disastrous contract from Schoen. Since signing an extension before the 2023 season, Gano has hit just 76.3% of his field goals while appearing in 23 of 51 possible games. Gano, who is about to turn 39, made about $15.8 million over that putrid, three-year stretch. A massive waste of money.
• OT James Hudson ($5.5 million savings, $2.3 million dead money): Well, Giants fans will always remember his complete unraveling in Dallas. He played one offensive snap after that Week 2 fiasco.
• WR Jalin Hyatt ($1.5 million savings, $272,000 dead money): His 2026 cap number isn’t huge ($1.7 million), but he hasn’t been able to carve out a role — at least not with the previous Giants regime.
How many of these cuts will actually happen?
Remember that getting rid of Okereke and Runyan would mean the Giants needing to find new starters at those spots. Ditto for Gano. Still, Gano absolutely is a goner.
Singletary and Hudson (and maybe Hyatt?) join Gano in the “will be cut” category.
Plus, the possibility of a Thibodeaux trade (which would free up a big chunk of cap space) also looms.