New York Giants Reportedly Restructure TE Levine Toilolo's Contract

The veteran tight end was projected by many to be a cap cut, but instead he will now be back for at least another season on a reduced rate.

The New York Giants have restructured the contract of veteran tight end Levine Toilolo reports NFL Network insider Ian Rapoport, who did not have the monetary figures in his report.

The #Giants are bringing back veteran TE Levine Toilolo for 2021, source said, on a restructured contract. He was set to make $2.95M in 2021.

— Ian Rapoport (@RapSheet) March 8, 2021

The team's decision to hang on to the 30-year-old tight end is a curious one. Toilolo, originally a fourth-round draft pick by the 49ers in 2013, signed with the Giants as an unrestricted free agent last year, his deal for two years and $6.2 million.

However, in his first season with New York, Toilolo was more of a special teams player than a contributor on offense. Per Pro Football Focus, Toilolo played in just 276 of the team's offensive snaps, which, when factored into his $3.225 million cap hit last year, came to $11,684 per snap.

He also played on most of the special teams units, contributing an additional 152 snaps there. Still, with Toilolo having played an estimated 428 of the team's total snaps, he caught five out of six passes for 46 yards (9.2 yards/reception) and no touchdowns with just 27 yards after the catch, a 98.6 rating.

Toilolo, however, was believed to be signed more for his run-blocking prowess than his receiving ability. After some spotty blocking early last season, Toilolo seemed to find a role in the offense in using his 6-foot-8, 268-pound frame to wall off defenders.

What does this move mean for the Giants? Check out the video above, in which I try to make dollars and "sense" of the move. 

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