The Giants made a surprising roster move at the NFL trade deadline, parting ways with cornerback Nick McCloud after he refused to accept a pay cut to the league minimum, The Post confirms. General Manager Joe Schoen released Nick McCloud while opting to retain expiring contracts for wide receiver Darius Slayton and linebacker Azeez Ojulari.
McCloud’s Contract and Performance-Based Cut
The decision, aimed at saving approximately $1 million, highlights the tough business side of the NFL and could stir tensions within the locker room. Nick McCloud, in his third season with the Giants, was valued for his versatility on defense and key role on special teams.
In March, the Giants re-signed the 26-year-old to a one-year, $3 million restricted free agent tender with no guaranteed money, leaving open the possibility of a performance-based pay cut. Despite earning a starting role in training camp, Nick McCloud leverage diminished following an injury in the season opener.
Failed Contract Restructuring Efforts
Talks of a pay reduction resurfaced before McCloud returned in Week 4 against the Cowboys. On Tuesday, the Giants gave him a final ultimatum: play for a prorated league minimum salary of $1.055 million ($527,000). McCloud declined, leading to his release, which freed up $1.5 million in cap space.
The Giants reportedly considered restructuring Nick McCloud contract with a one-year extension to lower the cap hit, but the two sides couldn’t agree on his market value. According to NFLPA records, the team had less than $2 million in cap space before making this move.
