The New York Giants have confirmed the release of former starting cornerback James Bradberry in a cost-cutting exercise that will now allow the team to sign all of their recent draft picks.
The Giants, 8/1 to win the NFC East title, had tried to find a trade partner for Bradberry before officially releasing the six-year veteran on Monday afternoon.
The team, who save $10.1million against the salary cap by making this move while incurring $11.727m in dead money charges, had $5.511m in cap space, per Over The Cap, but needed $12.676m in reserve just to sign their 11 draft picks.
It's unfortunate for Bradberry that he now finds himself a cap casualty, but Giants general manager Joe Schoen thinks he won't be a free agent for long before catching on with another team.
"It's unfortunate, because he's a great kid," Schoen said, via WFAN Sports Radio 101.9 FM/66AM.
"Listen, he's a starting corner in the league. It's just where we are financially, we still gotta sign our draft picks, we gotta be able to sign our practice squad, and then have replacement costs early in the season."
The Giants general manager explained that some financial aspects of the deal proved too rich for Bradberry's suitors as the cornerback was due to earn $13.5m in 2022.
Bradberry had two good seasons for the Giants as their No.1 cornerback. In 2020, he had three interceptions and 18 passes defended in 15 games, while earning the only Pro Bowl berth of his six-year career.
In 2021, Bradberry had four interceptions and 14 pass break-ups.