March 7, 2013
Cornerback Corey Webster was a candidate to get cut as the Giants try to clear salary-cap space, but Webster has agreed to take a pay cut instead.
Webster, who was due a $7.25 million base salary in 2013, the final year of his current contract, has instead agreed to take a base salary of $4 million, Kimberly Jones of NFL Network reports.
Although he started all 16 games last season, Webster had a disappointing year, and there was talk in New York that the team would decide he wasn't worth a roster spot. Accepting a pay cut of $3.25 million changes that calculus.
Giants center David Baas has also agreed to restructure his contract, lowering his base salary from $4.25 million to $1.25 million, Ralph Vacchiano of the New York Daily News reports. But Baas has simply converted some of his salary to a signing bonus, meaning he'll get the same amount of money this year but the Giants can count less of it against their salary cap.
The two moves have the Giants about $9 million under the salary cap, five days before the start of free agency.