Giants restructure Eli Manning's contract

March, 8, 2012
3/08/12
12:13
PM ET
Jerry Reese said at the NFL Scouting Combine that the Giants had some work to do with the salary cap.

They were $9 million over the cap at one point, according to ESPN NFL insider Adam Schefter. But Reese has restructured Eli Manning's contract to get some cap relief -- approximately $6.75 million in cap space according to reports.

Manning's base salary is now $1.75 million, down from $10.75 million, according to the NFL Players Association. The franchise quarterback will still get all of that money with $9 million of that $10.75 million being paid up front and guaranteed according to the Newark Star-Ledger.

Manning's 2012 cap number counts for $9.6 million now, down from $16.35 million according to the New York Daily News.

The Giants still have some other moves to make such as re-working Brandon Jacobs' contract. He is due a $500,000 roster bonus and an additional $4.4 million this season. The Giants will either restructure his deal or could release the running back.

BALLARD BACK: According to the NFLPA, the Giants also have re-signed tight end Jake Ballard and cornerback Bruce Johnson. Both are reportedly exclusive rights free agents. Ballard is rehabbing from ACL surgery and likely will start the season on the PUP list. Johnson is making his way back from a torn Achilles suffered in the preseason last year.

So far, the Giants have re-signed Ballard, Johnson and wide receiver Domenik Hixon, who was an unrestricted free agent.
Ohm Youngmisuk has covered the Giants, Jets and the NFL since 2006. Prior to that, he covered the Nets, Knicks and the NBA for nearly a decade. He joined ESPNNewYork.com after working at the New York Daily News for almost 12 years and is a graduate of Michigan State University.
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