On Monday, Snee restructured his contract for the second time this month, giving the team more cap room and flexibility on their payroll to make moves in free agency if they needed to before their Week 5 showdown with the Philadelphia Eagles.
Snee originally came into the season making $6.7 million as a base salary, but the Giants took $2.5 million of that and turned it into a signing bonus, thus lowering his contract to $4.2 million and creating $2.25 million in salary cap space.
On Monday, as Over The Cap broke it down, Snee's restructuring of his contract took his $4.2 million base salary and reduced it to $1.7 million, as they took another $2.5 million and turned that into another signing bonus, and thus allows the Giants to gain $1.25 million in salary cap relief.
With the Giants signing fullback John Conner this past week, the team was so strapped for salary cap room, the organization had to make a few moves in order to get the salary cap situation figured out, thus the team turning to Snee to get it worked out and were successful in doing so.
If there are other players who could be candidates to be restructured, it could be quarterback Eli Manning and free safety Antrel Rolle. Snee's status for Week 5 is uncertain as he is still dealing with the hip injury and it's been speculated that the Giants could shut down Snee indefinitely if the pain continues.
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- New York Giants Restructure Contracts of Chris Snee, Steve Weatherford
- New York Giants’ Chris Snee Battling Sore Hip; Could Be “Shut Down” If Injury Lingers
- New York Giants’ Chris Snee Says He’s “Not 100%,” but May Only Need a Week on PUP
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