Giants linebacker/defensive end Mathias Kiwanuka signed a simple restructure of his contract last Thursday, converting an already guaranteed $1.5 million portion of his 2013 base salary to a signing bonus. Kiwanuka will not lose any money from the three-year extension he signed last spring, but this change drops his cap number this season by $1 million (from $5.125 million to $4.125 million).
Kiwanuka’s cap number does go up slightly in 2014 (from $6.55 million to $7.07 million) and 2015 (from $6.95 million to $7.45 million) as a result of the restructure.
The Giants have done a nice job of getting further under the salary cap. It looks like they’re now roughly $6 million under.
I don’t expect the Giants to sign any big name free agents, but they’ll look to sign Will Beatty, Martellus Bennett and Victor Cruz to extensions.