Giants Rumors: Dexter Lawrence Restructures Contract, Opens $7.5M in Salary Cap Space

The New York Giants restructured the contract of defensive tackle Dexter Lawrence, according to ESPN's Field Yates.

Lawrence was due to earn a $16 million base salary for the 2024 NFL season. Yates reported $10 million of that was converted into a signing bonus, which frees up $7.5 million in new salary cap space for New York.

The two-time Pro Bowler only signed his extension with the Giants last offseason, a deal he further justified through his performance on the field. He had 53 total tackles, 4.5 sacks and 21 hits on the quarterback in 16 games.

The franchise had a pressing need to create some flexibility with the 2024 NFL draft a little over a month away. Before Thursday's move, it had just $2 million in cap space, the lowest figure in the league.

ESPN's Jordan Raanan reported offensive tackle Andrew Thomas is "likely next" in terms of contract restructures. Thomas, who's in the first year of his five-year, $117.5 million deal, has a $14.2 million base salary and a total of $8 million in signing and roster bonuses for the upcoming season.

The biggest free agents have already signed, so general manager Joe Schoen probably isn't plotting a major addition between now and the draft. Beyond having enough money to sign their draft picks, amending Lawrence's and presumably Thomas' deals will give the Giants more wiggle room to tweak the roster depending on what issues and opportunities arise.