Overview

• ESPN reported the move frees $12.2 million this year by converting base salary into signing bonus at the maximum level.
• The Giants now have roughly $3.4 million in cap space per NFLPA records, which may necessitate additional tweaks during the season.
• Thomas’ cap charges will rise by about $3.0–3.05 million each year from 2026 to 2029, increasing future dead-money risk.
• His Week 1 status is uncertain following Lisfranc surgery, limited practice work and no preseason 11-on-11 reps after a stint on PUP.
• James Hudson could start at left tackle if Thomas sits, while the decision to restructure Thomas rather than Dexter Lawrence drew scrutiny given GM Joe Schoen’s usual reluctance with injured players.