New York Giants Free Agency Contracts: Full Breakdown of Values and Spending

A pre-signed injury waiver is typically given to players who are "at-risk" for injury. So, for example, in the case of tight end Chris Manhertz, who last spring dealt with an undisclosed injury that cost him OTA practice time, if he were to re-aggravate that injury, the Giants are not obligated to pay any money otherwise guaranteed due to an injury (i.e., an injury settlement).

Another mechanism that has popped up is a per-game active roster bonus. Usually, this is given to a player coming off any kind of significant injury, but it's actually a smart mechanism to include because if a player is inactive for a game and has this bonus, the team gets a cap credit to be used elsewhere that year (or if coming at the end of the year, it can be carried over).

Tremaine Edmunds and Isaiah Likely are two such players who have this included in their respective contracts.

Let's go break down all the finalized contracts. (Contract data compiled from multiple sources, including Spotrac, Over the Cap, and our own sources.)

We will update as more signings or contract details are available.

WR/KR/PR Gunner Olszewski

• Length: 1 Year
• Total: $1.402 million
• Signing Bonus: $100,000
• Guaranteed Money: $300,000
• P5 Salary: $1.215 million
• 2026 Cap Hit: $1.262 million 

Olszewski's deal is a veteran salary benefit contract, meaning it doesn’t count for the full amount under the cap.

K Jason Sanders

• Length: 1 Year
• Total: $1.425 million
• Signing Bonus: $100,000
• Guaranteed Money: $300,000
• P5 Salary: $1.3 million
• 2026 Cap Hit: $1.2 million 

Sanders gets a veteran salary benefit deal which will not count fully against the 2026 cap and will have minimal dead money if he doesn't make the roster.

RB Devin Singletary (Restructure)

• P5 Salary: $1.3 million
• 2026 Cap Hit: $2.55 million  

Singletary’s restructured deal has some incentives for him to make back $1 million of the money he agreed to give up. According to Spotrac, Singletary, in 2025, had the following incentives, none of which he reached:

• 1,110 yards from scrimmage: $125,000
• 1,200 yards from scrimmage: $250,000
• 1,300 yards from scrimmage: $250,000
• 56% Snaps: $125,000
• 66% Snaps: 250,000  

RT Jermaine Eluemunor

• Length: 3 Years
• Total: $39 million
• Signing Bonus: $12 million
• Guaranteed Money: $25.45 million
• P5 Salaries: $1.3 million (2026 fully guaranteed), $12.4 million (2027, $12.15 million guaranteed), $11.35 million (2028)
• Per Game Active Roster Bonus: $26,471($450,007 total)
• Workout Bonus: $200,000 per year
• 2026 Cap Hit: $5.95 million  

Eluemunor's new deal comes to an APY of $13 million per year, which is a $6 million APY increase from the two-year deal he signed to come to the Giants back in 2024. Eluemunor has been more than worth the investment made in him.

FB Patrick Ricard

• Length: 2 Years
• Total: $7.63 million
• Signing Bonus: $2.2 million
• Guaranteed Money: $3.54 million
• P5 Salaries: $1.34 million (2026, fully guaranteed), $2.34 million (2027)
• Roster Bonus: $750,00 (due on fifth day of 2027 league year)
• Active Game Roster Bonus: $23,529/game
• Workout Bonus: $100,000 per year
• Playtime Incentives: $450,000 max
• 2026 Cap Hit: $2.8 million
• 2027 Cap Hit: $4.55 million  

Ricard figures to be a big part of the Giants new power rushing game. He is now the highest paid fullback in the league based on total contract value, having passed Kyle Juszcyk of the 49ers' $7.5 million deal.

TE Chris Manhertz

• Length: 1 Years
• Total: $1.487 million
• Signing Bonus: $1.3 million
• Guaranteed Money: $262,500
• 2026 Cap Hit: $1.262 million  

Manhertz's deal is a veteran salary benefit, so it's not going to fully count against the cap. The deal also has injury waivers.

LB Micah McFadden

• Length: 1 Year
• Total: $3.75 million
• Signing Bonus: $1.5 million
• Guaranteed Money: $2.9 million
• P5 Salary: $1.4 million (fully guaranteed)
• Active Roster Bonus: $44,117/game ($750,000 total)
• Playtime Incentives: $2 million

We're kind of surprised that the Giants didn't take advantage of the “four-year qualifying contract” provision, which, per Article 27, Section 7 of the CBA,would make McFadden eligible for a $2.8 million contract that would only count for $1.2 million against the cap under the provision.

Still this is a nice deal for McFadden as he attempts to re-establish his worth. He can max out at $5.75 million if he hits all the incentives.

WR Isaiah Hodgins

Hodgins gets a one-year veteran salary benefit deal with no guaranteed money. If he doesn't make the roster, he won't count against the dead money ledger.

• Length: 1 Year
• Total: $1.215 million
• No Signing Bonus
• Cap Hit: $1.1 million

OL Evan Neal

• Length: 1 Year
• Total: $1.215 million
• No Signing Bonus
• No guaranteed money
• Cap Hit: $1.075 million

In what should without question be the last chance for Neal to make it with the Giants and the NFL, he will attempt to do so on a veteran salary benefit deal that also has an injury waiver attached to it and which has no guaranteed money.

WR Calvin Austin III

• Length: 1 Year
• Total: $1.5 million
• Signing Bonus: $250,000
• Guaranteed: $450,000
• Workout Bonus: $50,000
• Cap Hit: $1.5 million
• Incentives: Up to $3 million

Austin's deal might very well be one of the steals by the Giants during this free agency period. If he maxes out, he can add another $3 million to his earnings.

While there was no word on the incentives to help him earn that extra $3 million, Austin could potentially be looking at incentives tied into playing time, receptions, receiving yards, and touchdowns, all common incentives for a receiver.

TE Isaiah Likely

• Length: 3 Years
• Total: $40 million
• Signing Bonus: $12.5 million ($4.166 million per year prorated)
• P5 Salaries: $1.35 million (2026), $12.85 million (2027; $6.65 million guaranteed), $10.65 million (2028)
• Roster Bonus: $700,000 (2028)
• Workout Bonus: $200,000 per year
• Per Game Roster Bonus: $21.799/game ($370,588 for 2026); $26,470 ($450,000 for 2027 and 2028)
• $26 million guaranteed, $5.5 million guaranteed for injury
• 2026 Cap Hit: $6.087 million

Likely's deal is actually a two-year deal and, like many of the other major contracts handed out by the Giants, has per-game active roster bonuses, a smart mechanism, as this way if a player has to miss time, the Giants can get a cap credit, something they haven't been able to do of late.

LB Tremaine Edmunds

• Length: 3 Years
• Total: $36 million
• Signing Bonus: $11 million ($3.66 per year)
• Guaranteed at Signing: $23.7 million
• Workout Bonus: $200,000 per year
• Per Game Roster Bonus: $20.242/game ($344,118 for 2026); $26,470 ($450,000 for 2027)
• P5 Salaries: $1.35 million (2026), $11.85 million (2027; $11.3 million guaranteed), $9.85 million (2028)
• 2026 Cap Hit: $5.56 million
  

Edmund's deal is the richest of those the Giants handed out this year. The interesting thing about this contract is that he has two different per-game roster bonuses in the first two years of the deal, according to Spotrac. We discussed this briefly above, but it is certainly something to keep watch on moving forward.

P Jordan Stout

• Length: 3 Years
• Total: $12.3 million
• Signing Bonus: $3 million
• Guaranteed Money: $7.32 million
• Fully Guaranteed Money $6.32 million
• Per Game Roster Bonus: $20,000 (max of $340,000)
• Injury Guarantee: $1 million
• P5 (base) Salaries: $1.215 million (2026), $3.105 million (2027), and $3.66 million (2028)
• Cap Hits: $2.655 million (2026), $.545 million (2027), $5.1 million (2028)

Stout's $4.1 million APY makes him the league's highest-paid punter per year. Interestingly enough, the Giants included a $1 million injury guarantee in the deal. Hopefully, after what this team has gone through the last few years with its kickers and punters being injured, that doesn't have to be activated.

DB Ar’Darius Washington 

• Length: 1 Year
• P5 Base Salary: $1.9 million
• Signing Bonus: $500,000
• Total: $3 million
• Guaranteed Money: $1.5 million
• Per game roster bonus: $29,411 per game (up to $500,000)
• Cap Hit: $2.617 million

Washington has only played one full season (2024) in his career, so the Giants are hedging their bets on his availability with the per-game roster bonus. For every game he is not active, that's a cap credit the Giants will get back.

CB Greg Newsome II

• Length: 1 Year
• Total: $8 million
• Signing Bonus: $3 million
• P5 Salary: $4 million
• Per Game Roster Bonus: $44,117 ($750,000 max)
• Workout Bonus: $250,000
• Incentives: up to $2 million

Newsome has a golden chance to stick around beyond the one-year term he's been given. His contract suggests he's getting starter's money to play on the outside, but this should not automatically disqualify the Giants from drafting another cornerback down the line in case things don't work out.

CB Nic Jones

• Length: 1 Year
• Total: up to $1.075 million
• Note: Has an injury waiver

Jones, a special teams contributor for the Giants, had been an exclusive rights free agent. The Giants were not going to tender him $3+ minimum for right of first refusal.

LB Zaire Barnes

• Length: 1 Year
• Total: $1.175 million
• P5 (Base) Salary: $1.075 million
• Signing Bonus: $50,000
• Workout Bonus: $50,000
• Guaranteed: $250,000
• Cap Hit: $1.175 million

Barnes was mainly a special teams contributor who was called upon to pinch hit on defense when injuries started piling up at inside linebacker.

Aaron Stinnie

• Length: 1 Year
• Total: $1.487 million
• Signing Bous: $62,500
• P5 Salary: $1.3 million
• 2026 Cap Hit: $1.262 million

Stinnie received a veteran salary benefit deal so his total deal won't fully count against the team's cap. The Giants were in desperate need of depth at guard, but this deal suggests that the drafting of an interior lineman is all but certain to be on the Giants' to do-list and that Stinnie is not guaranteed to make the 53-man roster, though given he's right now the top backup behind starting LG Jon Runyan, Stinnie's chances of sticking seem pretty good.

OL Joshua Ezeudu

• Length: 1 Year
• Total: TBD

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