Trading OBJ, Vernon signals dramatic shift in Giants’ plan
Three days after the 2018 season ended, Dave Gettleman sat behind a microphone and scoffed at the notion that he misjudged how close the Giants were to being competitive.
During the previous offseason, New York’s new general manager chose the present over the future. He passed on a quarterback with the No. 2 pick in an elite draft class. He made free agent Nate Solder the highest-paid offensive lineman in the NFL. He shipped off a fourth-round pick to acquire veteran linebacker Alec Ogletree.
And the most telltale sign of the summer was that Gettleman ultimately gave wide receiver Odell Beckham Jr. a lucrative five-year, $90 million contract extension.
Little went according to plan as the Giants proceeded to win five games — only a marginal improvement from the franchise’s worst record in 2017 — with aging icon Eli Manning still under center.
But this past week has revealed a stunning reversal from the Giants’ regime.
New York officially traded Beckham and outside linebacker Olivier Vernon to Cleveland on Wednesday in exchange for offensive guard Kevin Zeitler, safety Jabrill Peppers, the 17th overall pick and a third-round pick in the 2019 draft.
In addition to dealing a superstar playmaker and the team’s best pass-rusher, Gettleman opted against using the franchise tag on three-time Pro Bowl safety Landon Collins, who signed a sixyear deal with Washington.
So it’s clear that the Giants are now embracing — albeit belated — a full-on rebuilding project. The team has a whopping 12 picks in next month’s draft and approximately $27.4 million in salary cap space, according to Spotrac.
“As we continue to build this team, you need draft pick capital. This trade enabled us to do that,” Gettleman said Wednesday in a press release. “You can win while you build a roster. We do have a plan, and this is a part of it.”
The question is why the Giants decided to trade Beckham just seven months after signing his record contract extension. Gettleman insisted twice — right after the season and recently at the NFL Combine — that “we didn’t sign Odell to trade him.” What changed?
The most plausible explanation is that behind the scenes, the Giants feared Beckham’s off-field drama would become untenable. Infamously this past October, without consent from the team, the 26-year-old went on ESPN for a candid interview, vented frustrations and left doubt about his happiness in New York.
Still, for all the criticism of Beckham’s side antics, teammates respected his work ethic and gravitated toward him in the locker room. Not to mention he is arguably one of the league’s three best receivers when healthy.
The timing is especially curious when considering the financial implications. Effectively, Beckham was paid $21.45 million for 12 games last season and carries $16 million in dead money against the Giants’ 2019 salary cap. So reneging on a long-term commitment is costly.
The Giants only actually cleared about $3.6 million in cap space for next season. Over the final four years of the contract, that figure skyrockets to roughly $18 million annually.
Gettleman’s long-term vision is also murky because the Giants currently remain committed to the 38-year-old Manning, who is owed $23.2 million next season and is slated to receive a $5 roster bonus Saturday. The Giants could avoid paying that, as well as clear $17 million in cap space, by releasing Manning before then.
Will the Giants still ride out the final season of Manning’s contract while potentially grooming a rookie draft pick to become his successor in 2020?
Either way, the Giants will have much more cap space next year.
Since the front office is essentially stripping the roster to bare bones, selling the fanbase on the notion that you’re committed to a winning product in 2019 will be a challenge. And if Manning remains on the team, that’s $17 million less that Gettleman has to work with when improving the roster right now.
When Gettleman shipped off defensive players Damon Harrison and Eli Apple at last year’s trade deadline for draft picks, those transactions had less impact on the current team.
But letting go of Beckham and Collins — stars in their primes — as well as their lone proven passrusher leaves the Giants in a precarious position.
Aside from Sterling Shepard, the Giants’ current receiver corps consists of five players with a combined 83 catches, 1,122 yards and six touchdowns in their careers.
Zeitler, a seven-year veteran has started 72 straight games and hasn’t missed a snap since Week 13 of the 2015 season, is a solid addition to the offensive line in front of running back Saquon Barkley, but questions remain.
“That really adds another piece to the offensive line repair that we have going,” Gettleman said. “Now, we have most of the line under control for the next couple years. It’s a great opportunity for us to build stability on our offensive line.”
The Giants also recently resigned Jon Halapio and Spencer Pulley to compete at center this summer.
On defense, New York has to replace both starting safeties. The team will reportedly sign Antoine Bethea to a two-year deal on Thursday for depth. Peppers, a Paramus Catholic High School product, was the 25th pick in the 2017 draft.
“I spoke to him last night and he’s excited and thankful and couldn’t wait to get here,” Gettleman said. “Jabrill is a quality safety in this league and he is a legitimate linchpin on the back end of your defense. The way this game is being played, your safeties are critical in pass defense.”