Report: Kenny Golladay to Be Cut by Giants; Will Save $6.7M in Salary-Cap Space

Kenny Golladay's tenure with the New York Giants will come to an end after two seasons.

Per ESPN's Adam Schefter, the Giants are going to release the veteran wide receiver on March 15, the first day of the new league year, to save $6.7 million against the salary cap.

The cap savings will help give the Giants almost $50 million to spend on potential free agents. Quarterback Daniel Jones and running back Saquon Barkley are set to hit the open market next month.

Mike Florio of Pro Football Talk reported last week that Jones is seeking as much as $45 million per season from a new deal.

NFL Network's Ian Rapoport said Monday on The Pat McAfee Show that he "would expect" Jones' contract to end up being worth less than $45 million per season.

ESPN's Jeff Darlington reported last week on Get Up there was a "clear gap" in talks between Barkley and the Giants. It's unclear what the running back is seeking, though he told reporters on Jan. 22 he wasn't "concerned about resetting any markets" with a new contract.

Golladay signed a four-year, $72 million contract ($40 million guaranteed) with the Giants as a free agent in March 2021.

A third-round draft pick by the Detroit Lions in 2017, Golladay had a terrific start to his NFL career while playing with Matthew Stafford. He had back-to-back seasons with more than 1,000 yards in 2018 and 2019 and led the NFL with 11 receiving touchdowns in 2019.

Hamstring and hip injuries limited Golladay to five games during the 2020 season, but he still secured a lucrative deal from a Giants team that was desperately seeking help at wide receiver.

Things got off to a decent start for Golladay in New York. He had 282 receiving yards through his first four games of the 2021 season, including 116 in a 27-21 win over the New Orleans Saints in Week 4.

After that game, though, Golladay had a total of 320 receiving yards in 22 appearances. He finished the 2022 campaign with 81 yards on six receptions.

In the Giants' two playoff games, Golladay played a total of six offensive snaps. Darius Slayton, Richie James and Isaiah Hodgins became the top three wideouts for head coach Brian Daboll.

Golladay is only 29 and has played well over a two-year stretch in his career. A team looking for depth at wide receiver might make a bet on his returning to his pre-2020 form when he becomes a free agent.