Giants' Last-Minute Guide to 2022 NFL Free Agency

The New York Giants have their new head coach and general manager in Brian Daboll and Joe Schoen, respectively. The new regime, however, has a ton of work ahead of it, as New York is in serious need of a rebuild.

At no point over the past five years have the Giants held a record above .500.

New York isn't likely to be a major player in free agency, though, as the team's cap situation is less than desirable. The Giants will instead take a careful approach to this year's spending spree.

"Very calculated," Schoen said, per Paul Schwartz of the New York Post.

Free agency is slated to kick off Wednesday, but the legal tampering period begins at noon ET on Monday. Here, you'll find a quick refresher on the Giants' biggest needs, most notable free agents, potential targets and cap situation.

Overview

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Projected Cap Space: -$3.8 million

The Giants will struggle to be big spenders, as they're currently still over the salary cap. The front office is working hard to free up space, though, so budget targets are likely.

Linebacker Blake Martinez agreed to take a pay cut to stay in New York. Wide receiver Sterling Shepard has also agreed to restructure his contract in order to free up cap space and remain with the team. New York has also been parting with cap casualties, like tight end Kyle Rudolph, running back Devontae Booker and punter Riley Dixon.

New York should find a way to be under the cap before the start of the new league year on Wednesday. However, the Giants are unlikely to clear enough room to make a splash—and they probably aren't interested in doing so.

The Giants are armed with the fifth and seventh overall picks in April's draft and will likely use these selections to forge the foundation of their offseason. New York's free-agent focus will likely be on re-signing key players and hunting for bargains.

Notable Free Agents

Frank Franklin II/Associated Press

• TE Evan Engram
• OT Nate Solder
• G Billy Price
• DT Austin Johnson
• S Jabrill Peppers
• DT Danny Shelton
• LB Reggie Ragland
• TE Levine Toilolo

The Giants aren't looking to completely overhaul their roster in a single offseason, and we're not likely to see a mass exodus of players who are under contract.

"We have to make some tough decisions here in the near future just to get in a place where we can sign draft picks and be below the cap," Schoen said last month, per Paul Schwartz of the New York Post. "There's a fine line, because you can't purge."

At the same time, New York may not be eager to retain many of its impending free agents. Two possible exceptions are tight end Evan Engram and safety Jabrill Peppers.

Peppers has been one of New York's most productive defenders over the last few seasons. In 2020, he logged 91 tackles, 2.5 sacks, 11 passes defended and an interception. However, Peppers suffered a torn ACL in Week 7 of the 2021 season.

Tight end Evan Engram might also be a priority now that New York has released fellow tight end Kyle Rudolph. The 2017 first-round pick topped 700 yards as a rookie, was a Pro Bowler in 2020, and has 2,828 yards and 16 touchdowns in five seasons. 

Given New York's cap situation, though, no free agent will be back if the price isn't right.

Biggest Needs and Potential Targets

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Offensive Line

With guards Will Hernandez and Billy Price slated to hit the market along with offensive tackle Nate Solder, the Giants will need to make moves along the offensive line. They'll need to do so anyway, as the unit was a liability in 2021.

Quarterback Daniel Jones was sacked 22 times in 11 games and was under pressure on 23.3 percent of his dropbacks last season.

If New York can clear the cap space, snagging guard Connor Williams from the division-rival Dallas Cowboys would make sense. It's more likely, though, that the Giants will need to target less-heralded players like Daniel Brunskill, Alex Bars, Chukwuma Okorafor and former Giant Bobby Hart.

Tight End

Even if the Giants do re-sign Engram, they should be in the tight end market this offseason. Rudolph has already been released, and tight end Levine Toilolo is also headed to market.

Unfortunately, the free-agent market at tight end could be costly. Dalton Schultz, David Njoku and Mike Gesicki were all handed the franchise tag, which will drive up the price point of players like Engram and Zach Ertz.

Tight ends the Giants might consider include Ertz, Jimmy Graham, C.J. Uzomah and Gerald Everett. As is the case at every position, though, New York will have to strike a balance between talent and budget consciousness at tight end. 

Edge-Rusher

While improving the supporting cast around Jones will be a top priority this offseason, the Giants cannot ignore a 21st-ranked defense. Upgrading a pass rush that totaled 34 sacks in 2021 should be part of the process.

Specifically, the Giants need additional talent coming off the edge. Rookie Azeez Ojulari led New York with eight sacks this past season. Defensive lineman Leonard Williams was next with 6.5 sacks. No other player logged more than five sacks in 2021.

New York will likely be out on top edge-rushing free agents like Jadeveon Clowney and Chandler Jones. However, lower-tier options like Everson Griffen, Ryan Kerrigan and Arden Key could be on the Giants' radar. Expect the Giants to target edge depth in free agency and look for high-end talent during the draft.

Contract information via Spotrac. Advanced statistics from Pro Football Reference unless otherwise noted.