Print and Go Back ESPN.com: New York Giants [Print without images]

Monday, February 25, 2013
Giants restructure Kiwanuka's deal

By Ohm Youngmisuk

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."