As of January 20, the New York Giants have approximately $43.38 million in cap space for the 2025 season, according to Over the Cap. While that figure isn’t bad, the team’s needs on both offense and defense could quickly deplete those funds during NFL free agency. To address this, general manager Joe Schoen is expected to evaluate potential contract restructures and cap casualties in the coming months.
One notable name on Over the Cap’s list of the top 100 potential cap casualties is Giants linebacker and defensive captain Bobby Okereke, with a 56.3% likelihood of being released in 2025. Okereke signed a $40 million deal with the team in 2023, but his performance hasn’t significantly improved the team’s record, which stands at 9-25 over the past two seasons. His cap hit is set to increase from $6.688 million in 2024 to $14.463 million in 2025, further complicating his future with the team.
If the Giants decide to release Okereke, a post-June 1 designation would save the team $9 million annually over the next two seasons, compared to just $3.537 million in savings if released before June 1. Alternatively, the Giants could explore restructuring his contract, potentially saving $3.915 million through a conventional restructure or $6.264 million by adding void years or negotiating an extension.
At 29 years old in July, retaining Okereke on a restructured deal might be a less risky option than cutting ties entirely, allowing the team to manage its cap space while keeping a defensive leader on the roster.
