According to Rapoport, Beatty is still recovering from rotator cuff surgery.
Beatty, 30, was entering the fourth year of his five-year, $37.5 million contract that included $19 million guaranteed. He was set to make base salaries of $6.625 million (2016) and $6.775 million (2017) over the next two years.
According to OverTheCap.com, releasing will free up $4,175,000 in available cap space while creating $5 million in dead money.
Beatty’s 2015 season ended when tore his pectoral muscle while working in the weight room back in May of last year. There was talk that he could be a cap casualty for the Giants, so this shouldn’t come as a complete surprise.