Schoen to cut $40M in salary

New York Giants new GM Joe Schoen plans to cut $40M in cap space this offseason.

Peter King of NBC Sports stated in his latest writings that the New York Giants new general manager Joe Schoen will be prepared to clear out $40 million from a mismanaged salary cap.

This week (Saturday) is the 10-year anniversary of New York’s last playoff victory—the 21-17 Super Bowl win over New England. That is one long dry spell. New GM Joe Schoen won’t have an easy path with his buddy and new coach Brian Daboll. The Giants have to either fix Daniel Jones or replace him in 2023, and Schoen told me Saturday he’ll have to clear out $40 million from a bloated and mismanaged salary cap this spring.

“When we first got to Buffalo,” said Schoen, who worked for the Bills from 2017-’21, “we had $55 million in dead cap money we had to manage. We had a plan there, and we’ll have one here. We may have to make some decisions that hurt, but I do not want to kick the can down the road with the cap. I want to get it fixed.”

Schoen is smart—a bad team like the Giants needs to rip the cap band-aid off quickly so 2023 can be bright. (More about Jones in 10 Things, below.) I also think Schoen would be smart to look to deal one of their two high first-round picks (fifth or seventh overall) for future draft capital, so they could be in a pick-rich position to pick a quarterback if they’d be in the market for one in 2023.

Peter King

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