August 4, 2013 NFL Salary Cap Update: Before I list everything a quick FYI about the New York Giants’ cap number. They are not what the NFLPA Top 51 League Cap Report website says they are right now. I don’t want to repeat myself about what I wrote regarding this situation already on my Giants cap blog. You can read about it HERE.
The Giants are currently $2,656,846 under the NFL salary cap (disregard the $2,251,846 figure seen on their website). Here’s how they stand in comparison to the rest of the league (assuming their numbers are accurate, which I wouldn’t be surprised if they aren’t because of the simple errors that I’ve seen there this past week):
Click on a column to sort
NFL Team Cap Numbers - 8/4/2013
TOTAL CAP SPACE
- Keep in mind that the Giants probably still have to make a little bit more room under the cap before the Top 51 Rule expires in a little over a month.
- In the Giants’ case, it may not be for much; as things stand now, it may only be for about $1 million, maybe even less.
- Someone like Steve Weatherford could be an ideal restructure, since doing so could add as much as another $738,750 in salary cap space to the Giants’ present total without doing too much damage to their long-term salary cap structure (something that the Cowboys, to give a pertinent example, have become notorious at doing lately).
- They have until midnight New York time on Thursday, September 5th to do so (this is when the Top 51 Rule expires).
- Teams will have to include the cap numbers of the 52nd and 53rd players on their 53-man rosters at that point.
- By that time, clubs will have reduced their rosters to a maximum of 53 players; this will have taken place no later than by 6:00 pm New York time on August 31st.
- After the Top 51 rule ceases to be clubs will also have to count the players on IR, the 8-man Practice Squad, the PUP list, and those players who have received Injury Settlements in training camp/preseason as the result of any injuries that prevented them from continuing to play (this is the case for Antonio Dennard & Jeremy Horne at this point).
- Any additional Dead Money that results from players being cut in training camp will also factor into this equation.
- A conservative guess is that this will cost teams between 2 and 3 million dollars around the league depending on their specific situations; this is why teams with less than $2 million dollars could be swimming in dangerous cap waters as September 5th approaches.
- This is why late summer cuts, especially to middling veteran players on teams who still need to make cap room – like the Bears, Texans, Redskins, Rams, & Chiefs - should not come as a surprise towards the end of August.
- Check out an article from overthecap.com by Jason Fitzgerald regarding the subject of late Summer cuts.