The New York Giants are looking to trade some of their 2022 NFL Draft capital—specifically, one of their two first rounds—for 2023 NFL Draft capital.
This was reported by Peter King of Football Morning in America on Monday.
The Giants, who are fifth and seventh overall, are likely to move one of them to try out as many first-rounders as possible next year.
SNY’s Ralph Vecchiano confirmed that report on Thursday, saying the Giants are specifically seeking a package that includes, but does not necessarily limit, to a 2023 first-round pick.
According to multiple NFL sources, the Giants have indicated that they are open to trading the 5th or 7th overall pick in this year’s draft for a package that includes the first rounder in 2023. And the more teams are seeking quarterbacks, the more likely it is that they can.
As it turns out, this may not be the only reason the Giants and general manager Joe Scion look to trade in the first round or all together.
Currently, the Giants only have $3.1 million in the salary cap space and will need upwards of $12.5 million to spend on their 2022 NFL Draft class — assuming they use all nine picks. And given the rates of pay for the fifth and seventh overall selections (specific to the position), New York may not be able to afford those selections.
For Giants, there are several reasons why they might be interested in trading below, one being financial complications, according to sources. According to OverTheCap.com, he has nine picks in this year’s draft, which will cost him about $12.5 million in the salary cap space.
Given that they’re currently only $3 million under the $208.2 million cap, that’s a problem, according to NFL Players Association records. Even if they eventually trade James Bradberry, he’ll only take $12.1 million off the books—less than if he had to pay some of his salary to make the deal.
Trading the 7th overall pick for a quarterback-needed team like the Saints and dropping to 18, for example, would save about $2.2 million in cap space. They will withdraw more than $5 million if they trade that pick and don’t get a first-round pick this year in return – which is what a source said the Giants may be willing to do.
Forcing the Giants to pull out of a major draft slot due to financial issues would be the appropriate final “gift” from the Dave Gettleman era. What an absolutely disastrous scenario.
On the bright side, it could all work in Shonen’s favor. The Giants don’t seem eager to draft a quarterback this year and the 2023 draft promises to deepen the class. If they can trade one of their two first-round picks for the stock in the next April draft, they will be maximizing the value of an otherwise negative position.
But it will still be a gamble. There is no guarantee that any of the first round picks in 2023 will break into the top-10 or hold the same value as the No. 5 and No. 7 picks currently.
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