According to Ryan Dunleavy, the Giants have approached WR Sterling Shepard about taking a pay cut.
The move would slash his scheduled $8.475 million probably down close to the veteran minimum of $1.035 million while also voiding the final year of his deal in 2023, per Dunleavy.
If Shepard doesn’t accept, the Giants will likely cut Shepard, saving $4.5 million and incurring $8 million in dead money.
Shepard is recovering from a torn Achilles. Dunleavy says he could be ready for Week 1 but he’s out for OTAs and training camp is up in the air.
Shepard, 29, is a former second-round pick of the Giants back in 2016. He was entering the final year of his four-year, $5.944 million rookie contract when he agreed to a four-year, $41 million extension that includes $21.3 million guaranteed.
Shepard is set to make base salaries of $8.475 and $9.475 million in the final two years of his deal.
In 2021, Shepard appeared in seven games for the Giants and caught 36 passes for 366 yards receiving and one touchdown.
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