Eli Manning has two years remaining on his current four-year contract extension. He is due to cost the Giants team-high cap hits of $22.2 million in 2018 and $23.2 million in 2019, figures that foreshadowed a likely shift away from Manning, 36, even before Tuesday’s benching.
But now that the end officially feels near, what are the Giants’ and Manning’s options and what would be the financial ramifications? All figures are courtesy of OverTheCap.com.
The Giants are finished paying Manning the $36 million guaranteed on this contract after this season. Since none of the remaining $22 million in salary is guaranteed, the Giants wouldn’t be on the hook for any more cash if they cut Manning. They would be docked $12.4 million in “dead money” against their 2018 cap and $6.2 million in 2019 for cutting Manning prior to the end of his deal, but those are manageable numbers.
Remember: Manning’s final two years each carry a $5 million roster bonus, and that bonus is due on the fifth day of the 2018 league year in March, per NFL Network’s Mike Garafolo. So the Giants will have to make a decision on Manning’s future no matter what before then.
The market for Manning’s services is tough to gauge at the moment. NFL teams can see the Giants are moving on and will anticipate that a scorned Manning will want to play elsewhere, too, so that would take a lot of leverage out of the Giants’ hands. Then again, if the Jaguars, Broncos and Cardinals are among several suitors banging down Manning’s door, then aggressively approaching the Giants with a trade would be a GM’s way of preempting Manning’s release and courting clubs on his terms alone.
Manning hasn’t played well this season but several teams feel they are a quarterback away, and Manning won’t want to end his career this way. So a trade isn’t impossible, even if Manning’s contract no doubt would be restructured in some way to soften the blow on his new team’s cap.
Source : http://www.nydailynews.com/sports/football/giants/ramifications-giants-trading-releasing-eli-manning-article-1.3663973