Darnay Holmes takes pay cut, will remain with New York Giants

With cutdown day now just 24 hours away, the New York Giants and general manager Joe Schoen remain hard at work making personnel decisions.

On Monday, they made 11 total transactions, which included the release of 10 players. Rookie wide receiver Bryce Ford-Wheaton was also placed on season-ending injured reserve (IR) with a torn ACL.

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With players off on Tuesday, there’s little in-person work to be done. However, that didn’t stop Schoen from dealing with on lingering contract situation.

Dan Duggan of The Athletic reports that cornerback Darnay Holmes has accepted a pay cut to remain with the team. He had been a potential salary cap casualty.

CB Darnay Holmes is taking a pay cut to remain with the Giants, per source.

— Dan Duggan (@DDuggan21) August 28, 2023

Holmes is in the final year of his rookie deal and was scheduled to account for $2.941 million against the cap in 2023. Cutting him would have saved the Giants more than $2.74 million.

It’s unclear how much of a pay cut Holmes took, but this is an ideal outcome for the Giants. They are short on cap space but also thin at cornerback, especially if veteran Adoree’ Jackson plays poorly on the inside or rookie Tre Hawkins struggles on the outside. This move allows the Giants to keep a veteran corner with experience in Wink Martindale’s system without eating up the extra cap space.

Put another feather in Joe Schoen’s cap.