The new contract agreed on between the Giants and Leonard Williams is beneficial for both sides.
On Tuesday, Williams and the Giants reportedly agreed on a three-year deal for $63 million, with $45 million fully guaranteed. The deal can become official at, or after, the start of the new league year, at 4 p.m. ET on Wednesday.
For Williams, he gets the payday he deserves. The 26-year old defensive lineman played 2020 under the non-exclusive franchise tag and proved his worth with the best statistical season of his career. The Giants traded third- and fifth-round picks to the Jets in 2019 for Williams.
Breaking it all down
So, how much do the Giants value Leonard Williams? Well, I’m glad you asked.
The annual average value of Williams’ contract, $21 million, ranks second among NFL interior defensive linemen. That’s behind only the Rams’ Aaron Donald ($22.5 million). and tied with the Colts’ DeForest Buckner.
Williams’s $45 million of fully guaranteed money also trails only Donald’s total of $50 million; this places him in sole possession of second place (Buckner is at $39.3 million).
The deal, at three years, also gives Williams the opportunity to secure at least one more big payday.
The former Jets first-round pick (No. 6 overall) is now set to hit the market again and will cash in at 29, which is a bonus for him as the league’s salary cap is expected to increase significantly in the immediate future due to new broadcasting contracts.
Giants beat reporter Art Stapleton, The Record
By securing a new deal for Williams, the Giants also gained extra flexibility within the salary cap. With the extra space, the Giants can address other needs this offseason for their roster.
The salary cap hit for Williams, with the franchise tag was $19.4 million. The $22.5 million signing bonus is spread out over the deal’s length for accounting purposes.
The new deal allows the Giants to lower his salary-cap hit to $11 million. The $8 million in savings should allow them to make some more aggressive transactions as the offseason progresses.
Shortly after Williams agreed to terms, the Giants also came to an agreement with wide receiver John Ross. The former Cincinnati Bengal agreed on a deal for one year worth up to $2.5 million, including $1 million guaranteed.
And one more detail on the $19.4 million franchise tag, which is now rescinded with the new deal…
Williams has dropped the positional salary grievance with the Giants. The tag figure placed on him, claiming he should be classified as a defensive end instead of a defensive tackle led to the grievance.
Williams grieved his classification when he was tagged last year and it was still unresolved when the Giants tagged him again this year.
It would have meant approximately $3.8 million more in his pocket, had he won the grievance. With the new deal, however, including $45 million guaranteed, that’s now all water under the bridge.
Image: AP Photo/Seth Wenig
