The Giants waived cornerback James Bradberry on Monday, freeing up about $10.1 million in cap space.
New general manager Joe Schoen had spent weeks looking for a trade partner, but could not find satisfactory terms. Brad Bailey was originally scheduled to earn $13.5 million this season and will take up $21.9 million in salary space.
“Listen, he’s also a starting cornerback in the league,” Sean said. “We have to do it because of the financial situation. We also need to sign draft picks, sign training team members, and make room for substitutions during the season.”
Brad Bailey, who played for the Panthers for the first four years of his career, signed a three-year, $43.5 million contract with the Giants before the 2020 season. He was also one of five players on the previous Giants roster who were named to the Pro Bowl.
The current cornerback depth of the Giants is relatively weak, and only Adoree Jackson has sufficient starting experience.