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Giants 2024 NFL Free Agency Primer: Targets, cap space, and more

The legal tampering period and free agency are set to begin this week.

Where do things stand with the Giants?

Here’s everything you need to know before the madness...

Cap space

The Giants currently sit $38.3 million under the team cap of $255.4 million, which is the 14th-most in the NFL. Big Blue could create additional cap space by restructuring the contracts of OT Andrew Thomas ($14.1 million base salary), DL Dexter Lawrence ($16 million base salary) and LB Bobby Okereke ($7.9 million base salary), although that’s not needed at this time. The Giants would free an additional $6.7 million if TE Darren Waller were to retire.

Unrestricted free agents

Restricted and other free agents

Franchise tag

The Giants chose not to use the franchise tag. They last used the tag on running back Saquon Barkley last offseason.

Brian Daboll and Joe Schoen
Brian Daboll and Joe Schoen / USA TODAY Sports/SNY Treated image

Biggest needs

OG, WR, pass rusher, CB

Potential free agent targets

Storylines to monitor

How aggressive will Joe Schoen be?

The Giants are in an interesting position. You’d think a team that made the playoffs two years ago would be readying for a Super Bowl run, but that’s not the case -- that one year was a mirage.

The Giants are still very much a team in need of a pretty substantial rebuild. This is going to take time. That’s what makes this coming free agency so fascinating.

How will Schoen operate? Will he avoid the splashy signings knowing the Giants are unlikely to make a run this year, investing instead in players who will help the Giants two-plus years down the road? Will he try the close the gap between New York and the other NFC East teams faster by spending the bulk of his near $40 million in cap space? Time will tell.

Can they retain Xavier McKinney, Saquon Barkley?

The Giants want both back. The problem is that McKinney, a safety, and Barkley, a running back, play positions Schoen does not deem premium. There’s a limit on how much he’s willing to pay them.

The Giants chose not to tag either, making both unrestricted free agents, so he’s essentially asking them to go find better than what New York is willing to pay. It’s a bold strategy as it runs the risk the Giants won’t keep either. That’s not the worst thing if Schoen uses the resources not spent on the two to find elite players at more important positions. He just cannot afford to let the two leave, then whiff on adding elite players elsewhere. That would be a disaster.

Can the Giants retool their offensive line?

The Giants have two mainstays on their offensive line: Andrew Thomas and John Michael Schmitz. They hoped Evan Neal would be a third, but he’s a complete unknown after struggling as much in Year 2 as he did in Year 1. Adding to the front should be where the Giants make the most significant splashes. Onwenu will be atop their list. Williams should be, too, as it would allow Neal to kick inside to guard.