JPP set to count for an estimated $17 million.
With the deadline looming for NFL teams to assign their franchise and transition tags, the New York Giants have reportedly assigned the non-exclusive franchise tag for a second year in a row to defensive end Jason Pierre-Paul,according to Pro Football Talk, who first reported the pending move.
The decision to tag Pierre-Paul, who last year recorded 7.0 sacks in 12 games before a core muscle injury cost him the last four games of the season, gives the Giants some additional time to work out a deal with their defensive end, who was set to hit the open market March 9.
Pierre-Paul’s agent, Doug Hendrickson, told The New York Post in an article appearing Monday that the two sides were talking, but “nowhere near a deal.”
The transaction, which is expected to become official by Wednesday’s 4 p.m. deadline, gives the Giants and Pierre-Paul until July 15 to work out a multiyear deal.
As for the cap implications, the Giants were projected to have $31,536,686 of cap space, according to Over the Cap, that figure before news of the franchise tag was handed down.
The estimated $17 million franchise tag would drop that figure to $14.536 million, with about $5.5 million earmarked to sign the Giants’ 2017 rookie class.
The Giants, however, can free up additional cap space if needed, by re-working some of their bloated contracts such as those currently held by running back Shane Vereen, cornerback Dominique Rodgers-Cromartie, and linebacker J.T. Thomas.