Reviewing Giants Free Agency and Anticipating What's Next at Each Position

The Giants have made a number of encouraging moves, but there is still a lot more work to be done.

The splash signings are done across the NFL as teams’ salary cap space has dwindled. But the roster-building season is far from over for clubs like the New York Giants.

Giants general manager Joe Schoen has been busy and disciplined in his second season at the franchise's helm. His most significant moves thus far included re-signing quarterback Daniel Jones to a cleverly crafted contract extension, adding inside linebacker Bobby Okereke to help bolster the run defense and provide some speed against running backs and tight ends at the second level, and acquiring pass-catching tight end Darren Waller via trade for the second of the team’s two third-round draft picks (No. 100).

There has also been a handful of “smaller” yet just as important moves, such as the acquisition of defensive lineman Rakeem Nunez-Roches to provide depth along a thin defensive line; the addition of receivers Jeff Smith (primarily for special teams) and Parris Campbell; the return of receivers Sterling Shepard and Darius Slayton, punter Jamie Gillan, long snapper Casey Kreiter, linebacker Jarrad Davis, and running back Matt Breida.

On paper, it’s not a bad haul so far, but much work still needs to be done. Let’s break down the details of Week 1 of free agency by position and then spin ahead to what needs to be done.

Quarterback

The No. 1 objective on Schoen’s to-do list was to get Daniel Jones under contract. While things initially appeared touch and go, at the end of the day, the two sides agreed on a contract that, while averaging out to $40 million per year, isn’t a true $40 million if the Giants were to get out of the deal after the third year.

The Giants can exit the deal after two seasons, a smart structure. Jones is coming off his first good season as a pro. While there is optimism he’ll continue developing in Brian Daboll and Mike Kafka’s system, in the unlikely event that his 2022 season was an outlier, the Giants left themselves with an escape hatch.

The best thing about his contract is that at no point over its projected life does the deal exceed 18.3 percent of the team’s total cap space, and that happens in 2026, the final year of the deal, which Jones is unlikely to see anyway, regardless of how he plays.

What’s Next? Expect the Giants to add a developmental quarterback to the mix, especially now that Davis Webb has retired and started his coaching career. Tyrod Taylor is under contract for one more season, so it would behoove the Giants to add another quarterback, even if that player spends the upcoming season on the practice squad. The only question is will the Giants draft a developmental prospect or look to sign one after the draft?

Running Back

The Giants brought back veteran Matt Breida in, which was not surprising given how effective Breida was last year in spot duty. They still might look to dip into a deep running backs class this spring, but at the very least, they have depth behind Saquon Barkley.

Speaking of Barkley, he received the franchise tag, which, once signed, will pay him a guaranteed $10 million. Barkley’s decision to reject a multiyear deal that would have paid him around $13 million per year doesn’t look wise, especially considering the market for veteran running backs has not been robust.

It will be interesting to see how things continue to unfold with Barkley over the coming weeks and months. Would he consider skipping the off-season program and OTAs? What about training camp? Or will he bite the bullet and gamble on himself once again?

And what about the Giants? They’re unlikely to pull the offer for Barkley off the table, but they’re also not going to be in a position to go much higher with their offer, which means the longer Barkley waits, the less likely he gets that multiyear deal he’s hoping for.

What’s Next: Regardless of how the Barkley situation plays out, the Giants should dip their toe into the running back pool in this year’s draft to bump up the depth and have a backup plan if a long-term deal for Barkley isn’t in the cards. Adding depth could also allow the Giants to do a tag-and-trade of Barkley if the two sides dig their heels in, though the club’s preference is to get something done with the running back for the long term.

Tight Ends

The NFL is a copycat league, and Schoen, no doubt aware of how the Patriots and Chiefs have won Super Bowls with a tight end that just so happened to be the No. 1 receiver for their respective teams, followed suit by acquiring former Raiders pass-catching tight end Darren Waller via trade.

Waller is a big receiving target with sure hands who has had trouble staying healthy these last two seasons. But when he’s on, his game is a sight to behold. His resume also indicates that he is the No. 1 receiver the Giants have been looking for.

Credit to Schoen for thinking outside the box, given the lack of blue-chip wide receivers in the market and the abundance of slot receivers in the draft. If Waller stays healthy, no one will probably wish the Giants had traded for a Jerry Jeudy or a DeAndre Hopkins.

What’s Next: The Giants have a pretty good group of tight ends, with Waller and Daniel Bellinger leading the group. But it would be surprising if they stand pat with what they have, especially given the depth of tight end talent in this year’s class. A Day 3 developmental prospect could be in the cards.

Wide Receiver

As noted, the free-agent class of receivers wasn’t exactly overflowing with blue-chippers. The Giants re-signed two of their own, Shepard and Slayton, and added two others, Smith and Campbell.

The Slayton signing was initially surprising as it was thought that some teams might overspend to acquire Slayton due to the lack of top talent in the free-agency class.

But the signing is also important because it sends a positive message to the locker room that hard work and perseverance will be rewarded, and Slayton was the very picture of both.

The Shepard signing isn’t a surprise so much as the timing was. He’s still believed to be a few months away from being able to pass a physical, so the rush to get Shepard back under contract when there was likely no market for him is something of a head-scratcher. But the deal is for one year and a veteran minimum contract.

And, as noted above, it sends a positive message to the locker room that hard work gets rewarded. Shepherd might not have been able to contribute on the field last year, but he made many contributions behind the scenes that didn’t go unnoticed or unappreciated by the coaching staff.

Smith is primarily a special teams signing though he could see a few balls thrown his way here and there. And Campbell is another low-risk, high-reward signing who, if he can kick his rotten luck with injuries to the curb, might just turn out to be one of the most underrated free agent signings this year.

What’s Next: The Giants are likely to draft another receiver, though the pressure to go receiver in the first two rounds has likely diminished with the addition of Campbell and Waller.

Offensive Line

The team lost interior linemen Nick Gates to the Commanders and Jon Feliciano to the 49ers. That means the only veteran they have on the roster with experience playing center is Ben Bredeson, the incumbent at left guard--the same Bredeson who played just 30 snaps at the position last year.

Schoen told reporters he anticipated there being competition for the starting left guard spot and at center. At left guard, Bredeson, Joshua Ezeudu (if he’s recovered from his neck issue), and Shane Lemieux (if he’s recovered from his season-ending foot issue) will be the main competitors.

But what about the center? The Giants might as well take a billboard out in Times Square confirming their intention to draft a center because absent signing a veteran stopgap--and haven't we had enough of that already?--to fill the position, it's high time the team gets someone who can play the position for more than one season.

What’s Next? The Giants might as well take out a billboard in Time Square announcing a plan to draft a center because that seems to be where this is headed.

And doing so would be a smart move as putting a center on his rookie deal to go along with Thomas and Neal (both still on their rookie deals) and potentially Ezeudu (also on his rookie deal) would give the Giants a nice young offensive line that can mature together and, above all else, have some continuity, which is so important for an offensive line.

Further, it would give the Giants the potential to have the same starting center for more than one season in a row since the days of Weston Richburg.

Defensive Line

The Giants' dynamic duo of Leonard Williams and Dexter Lawrence were as solid as they came—that is when they were on the field together.

Williams finally succumbed to injuries, missing the first games of his career with knee and neck issues, these coming after he finished the previous season with an elbow issue.

As for Lawrence, it was somewhat concerning that, despite his being only 25 years old, he was getting veteran rest days once a week in practice, though that was due to the excess amount of snaps he was being asked to play due to a lack of depth on the defensive line.

The Giants added Nunez-Roches to be a part of the rotation. On Monday, they also met with A’Shawn Robinson, another run-stuffer, about having him join the team. And they should have D.J. Davidson back from a torn ACL, plus they have Ryder Anderson on the depth chart.

But the biggest question at this position is Williams. He’s entering the final year of his contract extension and has a $32 million cap hit. The Giants are believed to want to extend him and, in the process, lower that cap number. But will they be able to do so? And if so, at what risk for a player that’s 28 years old and, as previously noted, has had some injury issues?

What’s Next? The Giants need more cap space not just to finish their free-agency wish list but also to sign their draft class and have operating capital for the season. As of Tuesday morning Over the Cap had them with just $779,048 in effective cap space remaining.

They can get a lot of Benjamins if they can strike a deal with Saquon Barkley to lower his $10 million cap hit, get Williams to extend his current contract, and maybe find a way to get Lawrence extended.

Lawrence isn’t going anywhere. But could Williams be this year’s version of James Bradberry-- a surprise cut--if his side is unwilling to work with the team to reach a more reasonable cap number?

Outside Linebackers

Don’t look now, but this position is a sneaky need for the Giants, yes, even with the re-signing of Jihad Ward to another one-year deal. In Kayvon Thibodeaux and Azeez Ojulari, the Giants have their “Batman and Robin” pass-rushing duo. But they need both of those guys to stay healthy, something Ojulari struggled with last year.

But as we've seen before, the more pass rushers a team has, the better. And currently, the Giants' only other pass rusher of note is Elerson Smith, who has now missed parts of his first two NFL seasons with injuries. (Oshane Ximines is currently unsigned, though he may be back later in free agency once the Giants address some other priorities.)

That all being said, don't expect the Giants to draft a pass rusher early in this coming draft. While a Day 3 pick is possible, the focus is on the defense's back end, which can help the pass rush be more effective.

What's Next? It will be interesting to see if the Giants re-sign Oshane Ximines, who the coaches chose ahead of Quincy Roche last year. They also have Tomon Fox on the roster, who showed promise in limited snaps. Still, don't be surprised if the Giants add another edge rusher either late in the draft or as an undrafted free agent.

Inside Linebackers

The Giants vastly upgraded their inside linebacker unit with the addition of former Colts defender Bobby Okereke. Okereke, one of the underrated inside linebackers in the league, should help the Giants' run defense, which ranked in the bottom third of the league last year, improve. He'll also provide a shot in the arm in terms of coverage where all too often, the Giants inside linebackers were burned trying to defend the flats and the middle of the field.

The Giants are also counting on getting Darrian Beavers back from a torn ACL. Before his injury, Beavers looked like a promising thumper who could help against the run. While it remains to be seen what he looks like in terms of his speed once cleared, the Giants have vastly reinforced this unit with the addition of Okereke.

What's Next? If you factor in Carter Coughlin, Jarrad Davis, Cam Brown, and Micah McFadden, the Giants appear to have enough inside linebackers on paper. While they could add another player at the position after the draft, they do appear to have enough to stage some competition.

Safety

The Giants couldn't make it work with Julian Love, who bolted for the Seahawks on a two-year deal. And while there is always the possibility they add to the depth, Love's departure hasn't exactly left the team in dire straits.

Besides Xavier McKinney, the Giants have Dane Belton and Jason Pinnock, two players who performed well for them last year. They also have Trenton Thompson and Terrell Burgess, and it's been said that new cornerback Leonard Johnson may even be able to give them some snaps at safety in certain packages.

What's Next? The Giants will hold a competition to see who replaces Love in the starting lineup. The current thought is that Pinnock is the incumbent, but again, watch for Belton to get a long look at the position once the spring workouts begin in May.

Cornerback

Like center, the Giants can set themselves up for the future with smart drafting from a historically deep cornerbacks class.

Adoree' Jackson is in the final year of his deal. While he's been solid for the team, he hasn't come up with many big plays as a Giant. In two seasons in New York and 125 targets against him, he's allowed four touchdowns while breaking up 13 passes and intercepting just one.

The Giants also still have question marks on the other side of the defense. Last year they plugged in Fabian Moreau after Aaron Robinson went down (again) with an injury. They also tried Nick McCloud and Zyon Gilbert in the role, and all three posted NFL coverage ratings of 103 or higher.

What's Next: Defensive coordinator Wink Martindale's defense is largely based on having corners that can cover and play man-press coverage. Look for the Giants to dip into this year's draft class, and don't be stunned if they double-dip at this position to upgrade the overall talent pool.

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