Last Minute Guide to New York Giants Free Agency

Free agency is finally here.

Well, not officially until Tuesday at 4 p.m. EST. However, the three-day legal tampering period has allowed news to break a little early in some cases.

Some secrets have squeaked out of the New York Giants camp, while other more obvious generalities have lingered for weeks. This slideshow will serve as a primer for New York's plan to tackle the 2015 open market with the official signing period fast approaching.

Read on to get a grip on all you need to know about the Giants' upcoming actions in free agency.

Salary Cap Update

Bill Kostroun/Associated Press

2015 Salary Cap: $143,280,000

Salary Cap Space: $12,699,638

Biggest Cap Hit: Eli Manning ($19,750,000)

Last week, the NFL announced the 2015 salary cap, setting the spending ceiling at just over $143 million.

After extending the franchise tag to defensive end Jason Pierre-Paul, the salary cap experts at Spotrac calculate less than $13 million in spending room for the Giants. Even though JPP could sign a long-term deal before agreeing to play under the one-year tender to create some extra cap room, New York must plan to pay him the full $14.813 million and practice frugality everywhere else in free agency.

They must also take into account the money they'll spend on 2015 draft picks. Nick Powell of NJ Advance Media calculates that figure to be $3.78 million, which puts the team under $10 million to spend when the market opens on Tuesday.

With so little wiggle room, the Giants must be wise when considering the retention of their own impending free agents. It sounds like the team will allow Antrel Rolle to test his value on the open market, after the safety told ESPN's Michael Kay and Dan La Greca he's "gonna be a free agent" (via NJ.com).

Perhaps Rolle comes back if the offers on the open market aren't too hot and there is mutual interest in his return at a reduced rate. On the other hand, Ralph Vacchiano of the New York Daily News believes players such as receiver Jerrel Jernigan and linebacker Jacquian Williams could hit free agency with no chance of returning.

The Giants must maintain the upper hand in all negotiations and avoid paying above the market value for any available free agent—both outside and their own.

Biggest Needs

Kathy Willens/Associated Press

1. Secondary

The Giants need the most help at safety, with Antrel Rolle ready to entertain offers on the open market. They may not re-sign Stevie Brown or Quintin Demps either, leaving the position somewhat decimated. If none of these three are retained, the only safeties New York will have left will be former fifth-round selections Nat Berhe and Cooper Taylor, plus former undrafted rookie Thomas Gordon.

While the primary focus should be to fill the hole at safety, New York's need for a nickel cornerback mustn't go ignored either. Prince Amukamara and Dominique Rodgers-Cromartie already have the outsides locked down (when healthy), but a third guy for the slot could make for a dominant trio.

Ralph Vacchiano of the New York Daily News reports the Giants could link up with with Walter Thurmond again, so long as he's willing to accept a deal near the veteran minimum after an injury limited him to just two games in 2015.

2. Offensive Line

As glaring a need as offensive line may be, the Giants may not snag a top-flight target during the first wave of free agency. They could watch the market develop and grab a borderline-starting-caliber guy a couple of weeks into the signing period, or they could hope to plug the hole with a quality draft pick.

The immediate need is at right guard, as impending free agent John Jerry proved to be a feeble replacement for retired stalwart Chris Snee in 2014. However, the Giants could take a less direct path to rebuilding the O-line by going after a tackle instead. General manager Jerry Reese told Nick Powell of NJ Advance Media that Justin Pugh can be moved to guard, depending on what the team does in free agency and the draft.

3. Defensive Front Seven

An addition to the secondary won't be enough to set defensive coordinator Steve Spagnuolo up for success in his first season back with the Giants. Whether it's a pass-rush specialist, a dynamic interior lineman or a useful tool at the linebacker position, Spags needs a game-changing weapon near the line of scrimmage to field an attacking defense that is feared in 2015.

Potential Targets

David Zalubowski/Associated Press

1. Rahim Moore

Tom Rock of Newsday reported the Giants had interest in Devin McCourty, but the recent Super Bowl-winning safety has plans to stay put in New England. Now that the top safety is off the market before he was actually ever on it, the Giants must look to the next-best option.

That player is Rahim Moore, who has improved in each of his four years with the Denver Broncos. The 27-year-old former second-round pick intercepted a career-high four passes last season. He could solve New York's troubles in the secondary rather quickly.

If the Giants miss out on Moore, too, they might settle on the third-best option in Ron Parker. After playing on four teams in as many years, Parker is finally ready to star for whichever team signs him in free agency this year.

After those three, New York's outside options don't look much better than simply retaining Antrel Rolle.

2. Brandon Graham

The Giants will pay Jason Pierre-Paul a lot of money to rush from one end of the defensive line, but Brandon Graham could be brought in to man the other side. Dan Graziano of ESPN says the team has already engaged in talks with Graham, even though they won't be able to sign him until Tuesday.

Graham, who was picked by the Philadelphia Eagles two spots ahead of Pierre-Paul in the 2010 NFL draft, is one of the league's most efficient pass-rushers. In five seasons, he has more sacks (17.0) than he does starts (13).

The 263-pound defensive end/outside linebacker hybrid could finally become a full-time starter with the Giants. However, if he's no more than a situational rusher in New York, Graham won't be worth the $7.5 million/year he's reportedly seeking (per Geoff Mosher of CSN Philly).

3. Roy Helu

An under-the-radar signing New York is likely to pursue is a do-it-all running back, someone who can pass-block and catch out of the backfield just as well as he carries the ball. Jordan Raanan of NJ Advance Media pinpoints Roy Helu as an intriguing option the Giants have reached out to. He also names Antone Smith as a possibility.

Either Helu or Smith would be a complementary back to Rashad Jennings and Andre Williams. Both players have the versatility to fill the void left by David Wilson's premature retirement.

Overall Plan

Julio Cortez/Associated Press

1. Compete For Top Targets

Teams across the league will be clamoring for free agency's most coveted athletes, and the Giants don't have the money available to win them all. Despite their disadvantage, they can't go into this year's signing period with a defeatist attitude. They can't be afraid to compete for top-tier talent.

If the Giants put in considerable bids for multiple options, they're bound to land at least one. It could be a difference-maker, too. It'd be a major boost if the Giants could replicate their free agency performance from exactly one decade ago, when they brought in receiver Plaxico Burress and linebacker Antonio Pierce before the 2005 season.

Both players became key cogs in a Super Bowl run two years later.

2. Manage Money Responsibly

While the Giants must compete for the market's top free agents, they can't abandon all fiscal responsibility. Spending room is limited and overpaying for one guy could leave troublesome holes at other positions.

New York hasn't been overly concerned with creating an excess of cap room for 2015, otherwise the team would have extended players like quarterback Eli Manning and cornerback Prince Amukamara. The Giants did, however, cut unjustifiable cap hits connected to defensive end Mathias Kiwanuka, running back Peyton Hillis and center J.D. Walton. They also got defensive tackle Cullen Jenkins to agree to a crucial pay cut.

Expect similar pragmatism to persist when the market opens on Tuesday.

3. Set Things Up For A Successful Draft

What the Giants do in free agency affects what they do in the draft. If they leave a bunch of holes open by spending too much on a single free agent, the team will be forced to draft based on need rather than value. While New York needs as many players who can contribute right away, it's an advantage to afford the franchise the elbow room to draft based on best player available.

Free agency and the draft go hand in hand; will the Giants still be in lockstep when offseason acquisitions have come to an end?