New York Giants: Corey Webster, David Baas Reduce Pay, Right Move for Big Blue

Doug RushSenior Analyst IMarch 7, 2013

EAST RUTHERFORD, NJ - NOVEMBER 25: Corner back Corey Webster #23 of the New York Giants reacts after intercepting a pass against the Green Bay Packers during a game at MetLife Stadium on November 25, 2012 in East Rutherford, New Jersey. (Photo by Rich Schultz /Getty Images)
Rich Schultz/Getty Images

Not even 24 hours ago, we all thought Corey Webster could have been on his way out the door.

Mostly because of all the salary cap moves the team made a month ago.

Instead, the 31-year-old cornerback took a pay cut to play one more year with the Giants, according to Ralph Vacchiano of the New York Daily News.

Webster takes pay cut; Baas restructures ... #NYG

— Ralph Vacchiano (@RVacchianoNYDN) March 7, 2013

Webster had by far the worst season of his professional career and because he was due to make $7 million in 2013 in his final year of his contract, he was a candidate to be cut from the team.

However, due to the team's lack of depth at the position, Giants general manager Jerry Reese knew he had to try and keep Webster any way he could before making a drastic decision like releasing him.

So Webster agreed to a $3 million pay cut, reducing his salary for 2013 to $4 million.

In the end, both Webster and the Giants made the right move.

For the Giants, it gives them some more cap space for 2013 to sign free agents and their draft picks.

And in Webster's case, it shows that he was willing to sacrifice a guaranteed contract in order to stay on the only team he's ever known as a professional and give them one more season.

A lot of fans think Webster will be due for a bounce-back season after a horrid one in 2012.

Webster is in the final year of a five-year, $43.5 million deal he signed at the end of 2008.

There was also another Giant who restructured his contract for 2013—center David Baas.

According to Vacchiano, Baas lowers his salary from $4.25 million to $1.25 million in 2013, but will receive the remaining three million as bonus money.

Baas had originally signed a five-year, $27.5 million deal with the Giants back in 2011.

With the Webster and Baas deals, it puts the Giants right around $9 million under the salary cap, and according to Vacchiano, there could be more deals that get restructured.

Guys like Chris Snee, Antrel Rolle and Eli Manning could all be candidates to restructure their contracts to help the team get under the salary cap.

And there is still the possibility of David Diehl getting released if he doesn't restructure or take a pay cut from the team.

In the end though, the Giants win out with both moves and can continue moving forward for 2013.