Giants releasing Kenny Golladay after two wasted seasons

INDIANAPOLIS Quite possibly the worst free-agent signing in Giants history will soon be resigned to history. When the NFL business year opens up March 15, the Giants will make official what has been known to be coming for months: Golladay will be released, according to a source.

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INDIANAPOLIS — Quite possibly the worst free-agent signing in Giants’ history will soon be resigned to history.

When the NFL business year opens up March 15, the Giants will make official what has been known to be coming for months: Golladay will be released, according to a source.

This was in the plans for a long, long time. The only reason Golladay was on the team for the 2022 season was that cutting him would have wreaked havoc on their salary cap.

General manager Joe Schoen — who inherited this terrible contract — informed Golladay’s representatives Tuesday morning of the impending release.

The move will save the Giants $6.7 million on the 2023 salary cap. It has not yet been decided if the Giants will designate Golladay as a post-June 1 cut.

If they do, the $14.7 million in dead money the release creates will be spread over this season, 2024 and 2025.

If this is a straight release, the dead money charge all hits in 2023. Still, that would be far more palatable than the $21.4 million cap hit Golladay carried in 2023.

The Giants are releasing Kenny Golladay. Charles Wenzelberg / New York Post
Kenny Golladay lasted just two seasons after signing a four-year, $72 million contract with the Giants. Getty Images

When the Golladay move is in the book, the Giants will nudge over the $50 million mark in salary cap space for 2023.

Golladay prior to the 2021 season was courted by the Giants and then signed a four-year deal worth $72 million, with $40 million in guaranteed money.

The Giants received no return on the investment. In 26 games, Golladay was targeted 93 times and caught only 43 passes — staggering inefficiency — for 602 yards and one touchdown.

For this, the Giants paid Golladay $36 million the past two seasons.

Coach Brian Daboll gave Golladay, 29, opportunities early in the season before the situation devolved into Golladay becoming an afterthought. In 12 games (four starts) he had six catches for 81 yards.

Kenny Golladay was phased out of the Giants’ offense under first-year head coach Brian Daboll. Robert Sabo for the NY Post
Kenny Golladay has just six catches for 81 yards for the Giants during the 2022 season. Charles Wenzelberg/NY Post

Golladay led the NFL with 11 touchdown receptions in 2019 for the Lions and put together back-to-back 1,000-yard receiving seasons.

The Giants thought they were getting a tall, red-zone target capable of coming down with contested catches to make up for his lack of blazing speed.

As it turned out, Golladay’s most memorable contribution in 2022 was a block to clear a lane for Saquon Barkley in the 31-24 playoff victory over the Vikings.

This offseason is not only about Daniel Jones and Barkley.

Schoen said he has had conversations with Joel Segal, the agent for DT Dexter Lawrence, about a contract extension.

The Giants last year picked up the fifth-year option for Lawrence for $10.7 million for 2023 but he outplayed that money.

“Dexter’s great,” Schoen said. “Leader, great player, did a good job for us this year so he’s definitely somebody we will talk to and we’d like to have him here for a long time.”

Schoen spoke with Drew Rosenhaus, the agent for safety Julian Love, at the Senior Bowl and the two sides will speak again this week.

“I think I saw a couple of safeties may be released, so we’ll see what that market looks like, and if there’s gonna be a surplus or not, and where his value falls,” Schoen said. “We love Julian.”

There have already been talks about re-signing OL Nick Gates, Schoen said.

He also sounded keen on bringing back center Jon Feliciano.

“You really gotta make sure you don’t let a lot of leadership walk out of the building, and that’s gonna be a concerted effort for some of these guys — backups, starters, whatever it may be, we want to retain some of our leadership,” Schoen said.

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