As things currently stand on January 20, the New York Giants have approximately $43.38 million in available 2025 cap space according to Over the Cap.
That’s not a bad number to start with but considering the Giants’ needs on both sides of the football, $43 million could dry up quickly in NFL free agency. For that reason, NYG general manager Joe Schoen will likely consider any and all potential cap casualties and contract restructures over the next month or so — and only one Big Blue player made Over the Cap’s list of the top 100 most likely cap casualties heading into the offseason.
Per Over the Cap, Giants middle linebacker and defensive team captain Bobby Okereke was given 56.3% odds of a “negative fate” in 2025. But that’s mostly due to his cap hit.
Okereke signed a $40 million contract with Schoen and the Giants in 2023, and although he’s performed reasonably well when on the field, the veteran’s impact has not helped the franchise’s overall record at 9-25 over the past two seasons.
To make matters worse, Okereke’s cap hit jumps from just $6.688 million in 2024 to $14.463 million in 2025. He also missed 5 starts due to injury in year two with the organization.
If the Giants were to move on from Okereke, it’d make the most sense to designate him as a post-June 1 release. Over the Cap estimates $9 million in savings in each of the next two seasons if Schoen moves on using this route, but only $3.537 million in 2025 savings if Big Blue cuts the linebacker prior to June 1.
In either scenario, the Giants would still free up $9 million in 2026, meaning the Giants could also choose to hold onto Okereke for at least one more year.
Giants’ Bobby Okereke Also Highlighted as Contract Restructure Candidate in 2025
There is another path where the Giants retain Okereke at a lesser cost — and this feels like a stronger option for Schoen than parting ways with another team leader.
Pro Football Network named Okereke as one of Big Blue’s “main restructure/extension candidates” entering the 2025 offseason.
The Giants “could save $3,915,000 [or $3.915 million] with a conventional restructure” of Okereke, Pro Football Network relayed in an offseason primer that was shared with Heavy on Giants.
That’s actually a greater amount than a pre-June 1 cut — although it would also tie the G-Men to Okereke for a longer period.
Pro Football Network provided a second option too, noting that the Giants could save “$6,264,000 [or $6.264 million] by adding three void years [to Okereke’s contract] or signing [him to] an extension.”
At age 29 in July, this feels like a much riskier commitment for the Giants when it comes to Okereke’s short- and long-term contract situation.
Bobby Okereke Says Giants Locker Room Is ‘Hungry’ Despite Disappointing Season
On locker room clean-out day, Okereke was nice enough to field questions from the media that were there in attendance. Listening to him talk, the linebacker certainly didn’t sound like a player who is expecting to be cut.
“I just feel we’re a tight group, and everyone’s hungry,” Okereke told reporters that afternoon on January 6.
“[It was] very [disappointing],” he continued, after a follow-up question. “Just because of how hard you work — especially for the fans — we come out here and we work so hard to give the fans a result that they can be happy for. So, disappointing from that standpoint but our effort stayed consistent, we’ve been working hard.”
Okereke concluded that the Giants will “scratch and claw this offseason” in order to “gain some more inches” and “compete better” in 2025.
