ESPN.com’s NFC East Blogger Dan Graziano broke down the Giants’ salary cap situation heading into the offseason on Tuesday morning:
As for the Super Bowl champion New York Giants, they are one of four teams that has work to do in order to get under the cap by March 13. The Giants project to be about $7.25 million over the salary cap, and will need to restructure (or rid themselves of) Brandon Jacobs' contract and others before they can think about getting serious in free agency. Expect the Giants to look for a tight end but otherwise to focus on their own free agents, with decisions looming on Mario Manningham, Aaron Ross and others. They didn't do much in free agency last year and aren't likely to do so this year either. Difference is, this year they’re probably not going to take as much heat for their inactivity. Those Super Bowl runs kind of help with that.