One and a half million dollars of Mathias Kiwanuka’s base salary for 2013 has been converted to a bonus, knocking the Giants’ salary cap down $1 million for the upcoming season.
The Giants can defer the $1.5 million over the three remaining years of Kiwanuka’s contract, meaning the cap number for the defensive end/linebacker will go up by $500,000 in both 2014 and 2015. But the immediate result of the restructuring helps put the Giants approximately $5 million below the current expected salary cap for 2013.
Kiwanuka’s new base salary for 2013 will be $1.45 million, according to NFLPA records. Last spring he signed a four-year contract valued at $21.75 million.