The Giants restructured the contracts of Steve Weatherford & Chris Snee yesterday in order to get under the Salary Cap

The regular season salary cap rules are in effect starting today (this started at midnight actually). The Giants needed to make some moves to get under the salary cap, as I pointed out in this article I wrote 2 days ago:

• The Giants will need to make more room under the salary cap by tomorrow at 4 pm ET - September 3, 2013

As I expected, Chris Snee & Steve Weatherford have agreed to having their contracts restructured as per this tweet today by Adam Schefter:

They have do so in order to help give the Giants the necessary extra cap room they needed in order to be cap complaint with today's new cap rules for the regular season which include the following added cap expenses:

1. all 53 players on the 53-man roster, instead of just the players with top 51 cap numbers, as was the case while the Top 51 was in effect.
2. players on the 8-man Practice Squad.
3. players on Injured Reserve (both season ending and temporary)
4. players who received Injury Settlements.
5. player on the PUP list.

Check out the contractual breakdowns of Chris Snee & Steve Weatherford below, as per Jason Fitzgerald's NFL Salary Cap website: OverTheCap.com. They are also available on the Giants' 2013 salary cap page as well there (click HERE).

When I find out the specifics of the restructures for each player, I'll post them. I know that the most cap space that the Giants could have gained as a result of restructuring Weatherford's deal is $738,750 with Weatherford receiving $985,000 up front on account of this happening after it is converted from being base salary (paragraph 5 money in NFL CBA contract speak) to bonus money. I wrote about this on several occasions the past few months. The most that the Giants could gain in cap space from Snee is $2,930,000 with Snee receiving $5,860,000 up front in bonus money, after having his base salary converted to bonus money. The maximum total of cap space that the Giants could get form restructuring both players is $3,668,750.