Giants restructure Kiwanuka's deal

February, 25, 2013
2/25/13
2:24
PM ET
It's likely the Giants will need to create more salary cap space.

But they recently restructured Mathias Kiwanuka's contract to give them some breathing room.

Kiwanuka was due to make $2.95 million in base salary this season. According to the NFLPA's website, Kiwanuka's base salary is now $1.45 million. According to the Newark Star-Ledger, which first reported the salary move, Kiwanuka had a guaranteed $1.5 million portion of his base salary converted into a signing bonus to drop his cap number from $5.125 million to $4.125 million this season.

The Giants released Ahmad Bradshaw, Chris Canty and Michael Boley to get under the salary cap. They also have free agents to re-sign like Will Beatty, Kevin Boothe and Martellus Bennett and they have restricted free agents like Victor Cruz, Stevie Brown and Andre Brown to possibly tender.

"Well, you always need more cap room," GM Jerry Reese said Saturday. "Right now, we’re in pretty good position. Would probably like to be in better position, but we’re OK."
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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