Out with the old: Free agency could give Giants a whole new look in 2024

National Football League

Published Mar. 7, 2024 2:24 p.m. ET

The New York Giants just allowed their best player, Saquon Barkley, to become a free agent. They’re about to do the same with one of their best defensive players, safety Xavier McKinney. And they’re even considering using a high draft pick on a new franchise quarterback, too.

It almost feels like the Giants are starting over this offseason. And in a sense, they are.

That’s the price of last year’s disastrous season, when they followed their surprising playoff trip in 2022 with a 6-11 dud. It was, as general manager Joe Schoen noted at the scouting combine in Indianapolis last week, “the first time that we went through adversity.” And it seems to have made them question everything they’ve done so far.

The Giants won’t say that, of course, and they’ll never admit that they’re still rebuilding. But it’s hard to believe that their looks are deceiving. Teams are rarely willing to give up on so many of their best players three years into the regime of a new GM and coach.

But next year’s Giants could have a whole new look, by design. New defensive coordinator Shane Bowen, who replaced Wink Martindale after he quit after an angry confrontation with head coach Brian Daboll, might have a whole new secondary to work with, and maybe some much-needed pass-rush help. And Daboll — who might end up calling his own plays on offense next season — will be looking at some new weapons, a hopefully rebuilt offensive line, and possibly a new quarterback.

The latter may depend on the health of Daniel Jones, who is rehabbing from the torn ACL he suffered last season, and how worried the Giants are about all the injuries he’s suffered the last few seasons. But one thing the Giants know is that whoever their quarterback is in the future, he’ll need a much better cast around him.

They will start that process when the free-agent market opens next week. So here’s a look at what the Giants have to spend and some of their plans:

Salary cap situation

Schoen spent the first two years of his Giants regime getting the franchise back to good salary cap health. And he always said that once he did, he wouldn’t be afraid to spend it. That started last offseason, but this is where the Giants might actually be big players. They have an estimated $38.9 million to spend in free agency, which could make them players for a big-ticket item or too, if they want one.

They do have several big deals they could tinker with if they needed more room — notably those of Jones, left tackle Andrew Thomas and defensive tackle Dexter Lawrence. But doing that and pushing cap hits into future seasons is how the Giants got into financial trouble in the first place under former GM Dave Gettleman. They’re more likely to just work with what they’ve got.

Saquon Barkley to enter free agency after Giants’ decision not to tag him

Taking care of their own (or not)

Barkley and McKinney were the Giants’ two biggest free agents and there was a time when the Giants wanted to re-sign them both. But they learned long ago that Barkley’s idea of a “fair” deal was way out of their price range. They haven’t given up hope on re-signing McKinney, though.

Barkley actually has a chance to return too, but only if his market craters — something the Giants think might happen, but Barkley and his agents don’t expect. If he doesn’t get the kind of money he wants, the Giants could still give him a face-saving offer. But even in a crowded running back market, it seems likely he’s gone.

As for McKinney, the Giants considered using the transition tag on him (for $13.8 million) but didn’t do it as a gesture of goodwill because the two sides have been holding productive contract talks, according to multiple sources. It appears that McKinney will test the market, though, and he’s made it clear he wants top-of-the-market safety money (maybe $16-17 million per year). The Giants are prepared to pay him a lot, but probably not that much.

The rest of their free-agent list is mostly players they could live without. It’s unlikely they’d bring back 28-year-old cornerback Adoree’ Jackson after all his injuries the last few years. They value veteran backup Tyrod Taylor, but since they’re not sure Daniel Jones will be ready for Opening Day they might look to upgrade if they think they’ll need a starting quarterback for September.

Most of the others on their list are likely gone, outside of special teamer Gunner Olszewski, veteran linebacker Jihad Ward, and maybe even veteran guard Justin Pugh (for some much-needed depth) if their prices are right.

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Free agency needs (and names)

The Giants’ Top 5 needs heading into free agency:

1. Guard: Stop me if you’ve heard this before: The Giants need to fix the problems along their offensive line. It’s like they’ve been on a nauseating loop about that for more than a decade. On the bright side, assuming they still believe in Evan Neal as their right tackle, they have three promising young pieces (left tackle Andrew Thomas and center John Michael Schmitz are the others). But they clearly need guard help and there are indications they are willing to spend big on one. New England’s Michael Onwenu (who can also play right tackle if the Giants move Neal) inside is one possibility. Detroit’s Jonah Jackson is another.

2. Pass rusher: The Giants seem to view this as a big priority — so much so that they might make a real run at someone like Minnesota’s Danielle Hunter, according to an NFL source. Where Martindale was fine generating pressure with an array of blitzes, Bowen apparently wants to do it the more traditional way, so he needs to get Kayvon Thibodeaux (11 ½ sacks) some help. Hunter (16 ½ sacks last season) would do that, though it’ll cost them more than $20 million per year. Bryce Huff (10 sacks) could be a less expensive option.

3. Running back: Yes, they want Barkley back. No, they’re not willing to pay him what he thinks is ‘fair’. So, yes, get used to the idea that he’s going to play elsewhere and the Giants will have to replace him. There are plenty of running backs on the market and maybe they will get lucky and a top one — Josh Jacobs, Austin Ekeler — ends up looking for a one-year, “prove-it” deal. But the Giants are more likely to really shop in the bargain bin here. One possibility: Devin Singletary, who once was the lead back of a committee in Daboll’s offense in Buffalo. Zach Moss fits into that category, too. In fact, they’d make a good 1-2 punch for Daboll, just like they did in Buffalo in 2020-21.

4. Receiver/Tight end: Basically, they need another big weapon, and whether it’s a No. 1 receiver or a tight end may depend on whether Darren Waller, who is contemplating retirement, can be counted on for next season. They have made inquiries into some free-agent tight ends, though not the top-of-the-market types. They also inquired about Mike Evans’ asking price, according to a source, before he re-signed with the Bucs. That could indicate they’re ready to spend on a No. 1 receiver. The problem is that outside of Calvin Ridley there isn’t really one that’s worth the likely price. A second-tier receiver like Gabe Davis might be a better fit, especially since Schoen and Daboll know him from Buffalo. Then they could select a top-tier receiver in the first or second round of the draft.

5. Safety: Bringing back McKinney would solve this problem, and the Giants are apparently going to try to do it. But again, it will cost them. If McKinney leaves, don’t expect them to pursue anyone else in his financial stratosphere. Jordan Poyer, the 32-year-old safety cut by Buffalo this week, could be a veteran stopgap until the Giants can develop one of their own.

Ralph Vacchiano is the NFC East reporter for FOX Sports, covering the Washington Commanders, Philadelphia Eagles and New York Giants. He spent the previous six years covering the Giants and Jets for SNY TV in New York, and before that, 16 years covering the Giants and the NFL for the New York Daily News. Follow him Twitter at @RalphVacchiano.