Giants Reportedly Make Contract Decision on Deonte Banks After NFL Draft amid $12.6M 5th-Year Option

The New York Giants have decided against exercising their fifth-year option on cornerback Deonte Banks' contract, per ESPN's Jordan Raanan.

Banks has not fared well in New York, which selected the former Maryland star with the No. 24 overall pick in the 2023 NFL draft.

Over three seasons, he's allowed 62.3 percent of passes to be completed in his direction for 1,561 yards (12.1 yards per completion) and 14 touchdowns, per Pro Football Reference. Opposing quarterbacks have posted a 104.0 passer rating as well.

Banks started all 29 of his games played in 2023 and 2024, but he lost his starting job in 2025 to Cor'Dale Flott. He still played 16 games and started six as an injury replacement.

The highlight of his 2025 season occurred in a 34-10 win over the Las Vegas Raiders, when he took a kickoff 95 yards for a touchdown.

Despite some special teams excitement, it's understandable why the Giants decided against the fifth-year option. He only played over half his team's defensive snaps in six of his 16 games, per Pro Football Reference.

This decision means Banks will be a free agent after the 2026 season.

As for the Giants' cornerback room, New York made some additions this year, adding Greg Newsome II via free agency from the Jacksonville Jaguars and selecting Tennessee CB Colton Hood with the No. 37 overall pick in the NFL draft.