Giants restructure Thomas contract, free $6.46M cap space

The New York Giants have restructured the contract of starting left tackle Andrew Thomas, creating approximately $6.46 million in salary cap space for the current season. The move was confirmed Thursday by a person familiar with the situation.

The financial adjustment involves converting a portion of Thomas's base salary into a roster bonus, a common mechanism that allows teams to spread the accounting of that money over future years. Thomas, 27, signed a five-year, $117.5 million extension with the Giants in 2023 and is under contract through 2029.

This restructuring occurs during the team's offseason workouts and amid ongoing contract negotiations with rookie Arvell Reese, the team's fifth overall draft pick. While the rest of the Giants' draft class, including tenth overall pick Francis Sisi Mauigoa, has been signed, Reese's rookie contract remains unsigned. Reese's deal is expected to consume a significant portion of the team's available funds.

Following this move, the Giants now have just under $12 million in salary cap space, according to the NFL Players Association's public accounting. Given the financial demands of signing Reese and other potential roster needs, further...