MARCH 15: The move is official, according to ESPN’s Jordan Raanan (on Twitter).
MARCH 8: Although a post-June 1 cut would create more savings for the Giants, GM Joe Schoen said (via ESPN.com’s Jordan Raanan) the team is unlikely to take this route. The Giants could up their savings to $11.6MM by designating Golladay as a post-June 1 release, but that would also push money onto New York’s 2024 cap. Not doing so would lead to a significant dead-money hit this year ($14.7MM) but also allow the team to be rid of this contract by 2024. Teams can designate two players per year as post-June 1 cuts.
FEBRUARY 28: The Giants are in the midst of navigating a complex financial situation with their top two offensive priorities. In a move which will save them a modest amount of cap space, though, they are making the expected decision to release wideout Kenny Golladay. ESPN’s Adam Schefter tweets that New York will cut the veteran on March 15, the first day of the new league year. 
This news come as no surprise, given the struggles Golladay had during his two years as a Giant. By waiting until the official opening of free agency, New York will see $6.7MM in cap savings. That figure is countered by a dead cap charge of $14.7MM owing to the guaranteed money on his deal, but both parties will no doubt be satisfied with a parting of ways in this situation.
The 29-year-old enjoyed a productive four years to begin his career with the Lions. His time there included a 2019 campaign in which he led the NFL in receiving touchdowns and earned a Pro Bowl nod. That season marked his second in a row in which he eclipsed the 1,000 yard mark. When he hit the open market in 2021, then, he drew notable interest and headed to the Big Apple on a four-year, $72MM contract. That deal led to substantial expectations for himself and the team, but things have not at all gone according to plan.
Golladay put up 521 scoreless yards in his first Giants season, one in which he operated as a full-time starter. That changed early in the 2022 campaign under new head coach Brian Daboll, who dropped his playing time to just a pair of snaps in Week 2. That led the former third-rounder to lament his circumstances, and was followed by a continued drop in his usage. Golladay was named as a trade candidate in September, further suggesting that a separation would be coming at some point.
The Northern Illinois alum totaled just six catches and one touchdown during the regular season, despite the markedly improved play of Daniel Jones and the Giants’ underwhelming WR corps suffering multiple significant injuries. He will look to rebuild his value on a new team this offseason, through a deal which will surely be short-term in nature and carry a far lower financial commitment than the one the Giants gave him under previous GM Dave Gettleman. Golladay will still be owed the $4.5MM in guaranteed money he is due for 2023, however.
The Giants have made it clear they will be seeking additions at the receiver position. That could include a reunion with Odell Beckham Jr., who sat out the entire 2022 season despite significant interest from a number of teams. New York could also be seeking a wideout in the first round of this year’s draft, as they look to upgrade their pass-catching corps around Jones. In any event, Golladay will have no part in the team’s 2023 plans.
This is the greatest day in Giants history
Nah nah nah nah hey hey hey goodbye
I’ve seen some disastrous free agent contracts in my day, but Golladay got paid $68,007 per *snap* played last year. Amazing accomplishment.
Joins the long list of guys who flamed out for no obvious reason.
Stafford was such the perfect QB for this dude. KG creates almost no separation but since Stafford is such a gunslinger he trusted him to go up and make the play. Not a lot of quarterbacks in the NFL are comfortable throwing jump balls on a consistent basis, Daniel Jones especially.
Giants fans hated Golladay because he had more drops than TD receptions. $72M contract with only 1 TD, that coming in Week 18 in Philadelphia when the Giants were resting regulars.
And PFR still wants NYG to bring back the biggest diva from the Boat Trip.
Stafford made this guy, and he got a bag because of it
A good fit for a cheap deal would be rejoining Matthew Stafford with the Rams. They had good chemistry. Any team with a good QB really. Daniel Jones isn’t that good. They’re better off trading him and sign Derek Carr and extend Barkley.
Rams have to clear cap room to sign Golladay — they’ve released Bobby Wagner and are looking to trade Jalen Ramsey,
Giants can’t move Jones unless it’s a tag-and-trade. They declined the 5th-year option on Danny Dimes, remember?
Almost every team needs to clear cap space today, but if he signs anywhere, I expect to see an incentive-laden contract. The question is how much he’s willing to gamble on himself.
Rams is right. But it will be a one year vet minimum. The cap space they clear won’t be for him. Gotta have 53 guys on the roster.
Bye bye Golladay.
And no to OBJ. Let’s keep the drama to a minimum
New York just wouldn’t be New York without drama.
Time for Golladay to come to KC and catch for Mahomes!
Come home to Detroit.
Retreads not needed