Jerry Reese is waiting and hoping, just like everyone else. He's anxious for the NFL's lockout to end after more than four months. But with talks headed in the right direction and indications that a deal could be forthcoming within a matter of days, the Giants' general manager is prepared to jump right into the fray for what will be a dizzying open to the new league year.

"We're excited to go," Reese said after a Friday morning seminar in Atlanta, during which general managers and other key executives were briefed on the finer points of the deal approved by owners Thursday. Players have yet to sign off on the deal, but negotiations continue, and people on both sides of the negotiating table appear close to a resolution.

"Everybody's in the same boat," Reese said of the uncharted territory the lockout aftermath will present. "But we'll be ready. We have contingency plans for our contingency plans, and we're prepared for whatever happens."

Once a CBA is agreed upon, teams will open their doors and welcome back their own players, as well as negotiate with their would-be free agents, as well as undrafted free agents. Four days later, there will be a five-day period for signing unrestricted free agents from any team. Training camp is also set to begin at the same time as unrestricted free agency.

Reese has plenty of issues to sort through as he quickly shapes this year's roster. For starters, he has to comply with the $120-million salary cap. As currently constituted, the Giants' roster is about $11 million over the cap, meaning Reese will have to either release players or restructure contracts -- or both -- to comply. One potential target for release is left tackle Shawn Andrews, who had back problems last season and has a $3.5-million bonus if he's on the roster 30 days after the start of the league year.

Another veteran whose roster spot isn't guaranteed: underperforming defensive tackle Rocky Bernard.

The Giants also have several other veterans who could see their contracts altered, including offensive linemen Kareem McKenzie, Shaun O'Hara and Rich Seubert. And running back Brandon Jacobs, who is due to make $4.65 million this season, might be squeezed.

Reese's free-agent situation likely will be his top priority. Running back Ahmad Bradshaw is coming off a career year with 1,235 yards and eight touchdowns, and will be unrestricted once the lockout ends. Reese said he wants to sign Bradshaw, but the fifth-year back might want to explore his options on the open market. He has already indicated a willingness to explore signing with the Dolphins.

Defensive tackle Barry Cofield wants to remain with the team, but realizes the Giants are also stocked along the defensive line and might not be willing to give him a huge contract offer. Other key free agents: defensive end Mathias Kiwanuka, who suffered a season-ending neck injury last season, tight end Kevin Boss and wide receiver Steve Smith, who is recovering from season-ending knee injury.

Reese is undaunted by the challenging days ahead.

"This is what the league is," he said. "It's about making adjustments. Sometimes you have to make adjustments on the fly. We do it all season long with injuries and things. We know what's going to happen. It's what we do. We make adjustments, make tough decisions and move on."

Looks like it's almost time to make those adjustments and tough decisions.

FREE AGENTS

LB Chase Blackburn
OL Kevin Boothe
TE Kevin Boss
RB Ahmad Bradshaw
DB Courtney Brown
LB Keith Bulluck
WR Michael Clayton
DT Barry Cofield
S Deon Grant
WR Derek Hagan
DE Mathias Kiwanuka
WR Steve Smith
QB Jim Sorgi
DE Dave Tollefson

POSSIBLE TARGETS

Darren Sproles, RB, Charger
Diminutive back could be a potential replacement if the Giants lose Ahmad Bradshaw in free agency. Game-breaking type speed, although price might be too high. Questions about whether he can be an every-down back.

DeAngelo Hall, RB, Panthers
Will be one of the top targets for teams in need of running backs. Coming off a foot injury, but is now healthy.

Melvin Bullitt, S, Colts
An underrated safety who has excellent range and very good tackling ability. Could pair with Antrel Rolle.

Roman Harper, SS, Saints
Giants attempted to trade for Harper as part of Jeremy Shockey deal in 2008. Harper’s play has slipped somewhat, but still productive at a position of need.

Scott Shanle, LB, Saints
Giants not expected to bring back Keith Bulluck, and could use a veteran presence on the outside.

Joseph Addai, RB, Colts
Former first-round pick an alternative in the event Bradshaw doesn’t return.

BOB GLAUBER’S ANALYSIS

The Giants have a handful of key free agents they’d like to re-sign, starting with running back Ahmad Bradshaw, who has emerged as the starter after joining the team as a seventh-round pick in 2007. Bradshaw has excellent speed, quickness and toughness, but with a thin crop of free agent backs available this year, the Giants could have stiff competition to retain him.

Defensive tackle Barry Cofield has been a highly productive player, and last year played through a shoulder injury that required off-season surgery. He’d like to remain with the team, but the Giants are deep along the defensive line and might not be able to afford Cofield, who is one of only a handful of top free agents at a position typically coveted by NFL teams.

Mathis Kiwanuka has a bulging disc in his neck that forced him to shut down his season after just three games last year. He has been cleared to play, and the Giants are expected to offer him a short-term deal to stay with the team.

Wide receiver Steve Smith had microfracture knee surgery last year and is unsigned. The Giants would like to keep Smith, who has also been cleared to play, but there are lingering concerns about whether he’ll be able to return to full strength.

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