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New York Giants salary cap: How much money do they have to spend?

How much salary cap space do the New York Giants have after cutting Geoff Schwartz and Will Beatty on Wednesday and announcing the retirement of Jon Beason? The Giants currently have the third-most cap space of any NFL team, but the truth is we really don't know the exact amount the Giants have to spend.

Sure, we CAN put a number on it. After Wednesday's moves most reports, including my own, estimated that the Giants had somewhere between $52 and $55 million to spend under the 2016 salary cap. Spotrac currently estimates that the Giants have $58.