The New York Giants freed up some more cap space on Thursday with two deals. Center David Baas agreed to a restructured contract that lowered his base salary from $4.25 million to $1.25 million according to Ralph Vacchiano. Meanwhile, cornerback Corey Webster agreed to take a paycut, dropping his salary from $7.25 million to $4 million in the final year of his contract according to Kimberly Jones.
Baas, 31, played his first six seasons in San Francisco and signed a five-year, $27.5 million contract with New York in 2011, but he has failed to play up to expectations with the Giants. This offseason, Baas underwent multiple surgeries, but the specifics are unknown. He was listed on the injury report for the majority of the 2012 season, but did not miss any games. The new contract should save the Giants $2 million in cap space, moving Baas' cap hit from $6.725 million to $4.725 million for 2013.
Webster, 31, has been with the Giants for eight years of his NFL career. He signed a six-year, $44 million contract in 2008 that is set to expire at the end of the 2013 season. With only one year remaining on his contract, Webster agreed to take a pay cut to remain with the team, which saves the Giants over $3 million.
The two moves put the Giants approximately $9 million below the salary cap. The Giants have done good work to get under the salary cap after starting over the cap. Still, New York could look to clear more space as the March 12 start of free agency approaches.