Less Than One Week to Free Agency
John Fennelly , Executive Editor
What’s next for the Giants this offseason? Plenty. This week will be the big run-up to free agency, which begins less than one week from today on March 12. The calendar:
March 9-11 – Clubs are permitted to enter into contract negotiations with certified agents of players who will be Unrestricted Free Agents at the end of the current League Year.
March 12 – Prior to 4:00 p.m., New York time, clubs must exercise options for 2013 on all players who have option clauses in their 2012 contracts.
- Prior to 4:00 p.m., New York time, clubs must submit Qualifying Offers to their Restricted Free Agents with expiring contracts and to whom they desire to retain a Right of First Refusal/Compensation.
- Prior to 4:00 p.m., New York time, clubs must submit a minimum salary offer to retain exclusive negotiating rights to their players with expiring 2012 contracts and who have fewer than three seasons of free agency credit.
- All 2012 player contracts will expire at 4:00 p.m., New York time.
- Top-51 Begins. All clubs must be under the Salary Cap prior to 4:00 p.m., New York time.
- The 2013 League Year and Free Agency period begin at 4:00 p.m., New York time.
- Trading period begins at 4:00 p.m., New York time, for 2013 after expiration of all 2012 contracts.
Paul Schwartz of he Post reminds us the Giants still have to clear some cap room if they are to fill some imminent needs this offseason. The “low-hanging fruit” seems to be CB Corey Webster and OL David Diehl:
Both players are coming off poor seasons entering the final year of their contracts. Both started in Super Bowl XLII and again in Super Bowl XLVI, but their returns to the Giants are not guaranteed.
Webster’s salary for the upcoming season is $7 million and he’s scheduled to count $9.8 million against the cap. Diehl, 32, is scheduled to make $4.475 million in salary and his cap hit is around $6.9 million. It is virtually impossible for the Giants to bring Webster, 31, and Diehl back at their present salaries.