As the New York Giants approach 2022 NFL free agency in dire need of getting their financial affairs in order as it relates to the salary cap, they’d like to have a word with Sterling Shepard. More accurately, it appears they’ve already begun the conversation this offseason, one that will likely determine his future with the club. The team has reportedly asked Shepard to accept a pay cut going forward, according to The New York Post, and his decision is likely forthcoming.
It is currently unclear just how much the Giants would like to lop off of his 2022 base salary of $8.75 million — set to hit the Giants overall cap for a hefty $12.5 million next season — but it’s rumored they’re looking for a drastic reduction that could land him closer to league minimum. For a six-year veteran wideout, that would amount to only $1.03 million, more than $7 million in lost revenue.
Shepard, 29, has two years remaining on a four-year, $41 million contract signed with the Giants in 2019, but he’s battled durability issues since signing that deal — missing four games in 2020 with a toe injury and having logged only six starts in 2021 after suffering a season-ending torn Achilles.
The Giants began the week being $12 million over the projected NFL salary cap of $208 million, and released tight end Kyle Rudolph on Wednesday to help in that equation. One day later, it’s been revealed they’re now looking for Shepard to help as well, or his days could be numbered with Big Blue. If the Giants release Shepard and his contract as-is prior to June 1, they’d gain $4.5 million toward the cap, a number that balloons to $8.5 million if he’s labeled a post-June 1 release.
They’d obviously rather keep him onboard, hoping he’ll bounce back from his torn Achilles to be a weapon for quarterback Daniel Jones, but time will tell how these negotiations play out, because Big Blue has some options here — considering just how deep this year’s crop of receiver prospects is combined with the potential of former first-round pick Kadarius Toney.
