The Giants had significant football reasons to release Victor Cruz and Rashad Jennings, but the immediate impact of the cuts will be financial.
General manager Jerry Reese freed up $10 million in 2017 salary cap space Monday by moving on from Cruz and Jennings. The cuts give the Giants somewhere around $30 in cap space, according to Over The Cap. They also give the Giants a boost in their pursuit of free agent-to-be Jason Pierre-Paul entering a pivotal two-week period.
Wednesday (February 15) is the first day teams can place franchise or transition tags on their own free agents.