Field Yates reports that the Giants have converted $9.835 million of TE Darren Waller’s 2023 base salary into a signing bonus following the trade with the Raiders.
This move created $7.868 million of cap space for the 2023 season.
Waller, 30, is a former sixth-round pick of the Ravens. He was in the third year of his four-year, $2.39 million rookie contract when Baltimore waived him coming out of the preseason and later signed him to their practice squad.
The Raiders signed him off the Ravens’ practice squad in 2018 and later locked him up to a three-year extension worth around $9 million per year. He was set to make base salaries of $6.25 million in each of the final two years of his deal when he agreed to a three-year, $51 million contract extension with the Raiders last year.
The Giants acquired Waller in a trade with the Raiders for a third-round compensatory pick.
In 2022, Waller appeared in nine games for the Raiders and caught 28 passes for 388 yards receiving and three touchdowns.
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