The New York Giants are bracing for the potential retirement of tight end Darren Waller, a move that would provide substantial salary cap relief for the cash-strapped franchise. According to multiple reports, Waller is expected to announce his decision before the team’s mandatory minicamp next week, with sources indicating he is leaning towards hanging up his cleats.
If Waller, 31, opts for retirement, the Giants would save an estimated $11.625 million in cap space for the 2024 season. This financial windfall would offer the team much-needed flexibility to address roster needs and potentially re-sign their own free agents.
The cap savings would extend beyond the current year, with the Giants projected to save approximately $13 million in 2025 and $15 million in 2026, the final year of Waller’s contract. This substantial financial relief could prove invaluable for a team that currently possesses the lowest cap space in the league at just $1.6 million.
Waller’s potential departure would create a void at the tight end position, but the Giants have taken proactive measures to bolster the depth chart. They drafted Penn State’s Theo Johnson in the fourth round of the 2024 NFL Draft, a promising pass-catcher who has already taken first-team reps during voluntary workouts. Additionally, the team signed veteran tight ends Jack Stoll and Chris Manhertz to provide blocking prowess.
While losing a talented player like Waller is never ideal, the Giants appear to recognize the value of the potential cap savings. With Waller contemplating retirement due to persistent injury concerns and a burgeoning music career, the team can allocate those funds towards signing new players or retaining their own free agents in the coming years.
The Giants acquired Waller from the Las Vegas Raiders in a trade last year, surrendering a third-round pick in the hopes of building their passing attack around the dynamic tight end. However, injuries limited Waller to just 12 games, in which he caught 52 passes for 552 yards and a single touchdown.
As the Giants await Waller’s decision, the potential cap relief looms as a silver lining, providing the team with increased financial flexibility to reshape their roster and address areas of need in the pursuit of on-field success.
