Giants' Last-Minute Guide to 2023 NFL Free Agency
The New York Giants have already done their fair share of work in the 2023 offseason. General manager Joe Schoen managed to get a deal done with quarterback Daniel Jones just before Tuesday's franchise-tag deadline.
New York, in turn, used the franchise tag on running back Saquon Barkley.
Those moves weren't cheap. Jones signed a four-year, $160 million deal, while Barkley will earn $10.1 million in 2023 if he plays on the tag. However, they do ensure that the Giants will have their two best offensive players in the fold for the coming campaign.
And free agency, which kicks off at 4 p.m. ET on Wednesday, hasn't even started yet.
Where do the Giants go from here? That's what we're here to examine. Below, you'll find a quick refresher on New York's biggest needs, most notable free agents, potential targets and cap situation heading into 2023 free agency.
Overview
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Projected Cap Space: $18.6 million
While extending Jones and tagging Barkley was far from Budget moves, they still leave New York with a respectable amount of cap space. With a little less than $19 million available, the Giants should still be able to make some significant moves if they're creative enough with their contract structuring.
In an effort to improve on last year's breakthrough playoff campaign, Schoen is prepared to be a player on the open market.
"We're not shopping for minimum players anymore," Schoen said, per NFL Media's Kevin Patra. "So, this offseason we'll build a bit. I still believe in building through the draft. And we can sign guys in free agency to help the roster."
While the Giants can and should continue building a strong core through the draft, they appear poised to chase at least one or two big names in free agency this offseason.
Notable Free Agents
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C Jon Feliciano
WR Richie James
S Tony Jefferson
S Julian Love
CB Fabian Moreau
WR Darius Slayton
LB Jaylon Smith
LB Oshane Ximines
Jones and Barkley were the most critical of New York's impending free agents to address. However, they're not the only notable 2022 offensive contributors heading to market. Center Jon Feliciano and a number of receivers are scheduled to be free agents.
The Giants already signed wideout Isaiah Hodgins to a one-year extension early in the offseason. However, their top two receivers from 2022, Richie James and Darius Slayton, could be on their way out.
Defensively, New York could potentially lose starting safety Julian Love, backup safety Tony Jefferson and cornerback Fabian Moreau in the secondary alone. Pass-rusher Oshane Ximines, who logged two sacks and 24 tackles this past season, and linebacker Jaylon Smith are also headed to market.
Realistically, the Giants can find upgrades for most of their impending free agents this offseason. They can and should bolster a passing attack that ranked 27th in net yards gained per attempt last season (5.5), though it would make sense to keep either James or Slayton as depth.
Love is a solid starting safety, and Smith was a strong contributor after being signed to the practice squad in 2021. However, there might not be a true priority among New York's free-agent list now that both Jones and Barkley are secured.
Biggest Needs and Potential Targets
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Wide Receiver
Even if the Giants retain both James and Slayton, it would behoove them to add to the receiver room in both free agency and the draft. New York had one of the league's most underwhelming receiving corps this past season, and there wasn't anything close to a No. 1 receiver on the roster.
Improving the receiver group is important because it should help the on-field results and because it can help Jones continue building on the growth he's shown under head coach Brian Daboll.
However, there isn't a true No. 1 receiver heading to free agency either, which is why this will likely be a position to target in the draft. Even if New York believes it can find its new top target in April, signing a high-end No. 2 receiver like JuJu Smith-Schuster or Jakobi Meyers would still be advisable.
Tight End
If the Giants are focused on putting more talent around Jones—and they should be—it would also be smart to add a quality receiving tight end to the roster. Rookie Daniel Bellinger showed some flashes in 2022, but he also missed time with an eye injury and finished with a mere 268 yards and two touchdowns.
Some intriguing tight ends are scheduled to hit the open market, including Mike Gesicki of the Miami Dolphins and Dalton Schultz of the Dallas Cowboys. Former Giants tight end Evan Engram was given the franchise tag by the Jacksonville Jaguars.
A tight end can serve as a young quarterback's security blanket. While Bellinger has shown some promise, the Giants could afford to have more talent and greater depth at the position.
Linebacker
Safety could become a big defensive need if both Love and Jefferson depart in free agency. Heading into the week, though, linebacker is New York's top liability on that side of the ball.
Specifically, the Giants need to find a quality run-stuffer at the second level. New York ranked 31st in yards per rush allowed (5.2) and its inability to stop the run was one of the biggest reasons why the Giants got rolled by the Philadelphia Eagles in the divisional round.
Top-tier linebackers such as Tremaine Edmunds, Lavonte David and David Long Jr. are slated to be available, and the Giants should think long and hard about pursuing at least one of them. Bobby Wagner, who was recently released by the Los Angeles Rams, would be another logical target.
* Contract information via Spotrac.
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