Report: Giants expect veteran TE to retire

ESPN’s Jordan Raanan reports Waller is likely to make a retirement decision no later than next week’s mandatory minicamp. The team’s position is that he is leaning toward hanging up his cleats rather than suiting up for a second campaign in New York. The 31-year-old’s future has been in doubt throughout the offseason, and he has not taken part in OTAs.

Waller spoke about his situation in April, stating a final call may have been made prior to the draft. That did not happen, but he has pledged to inform the team of his decision before the break between mandatory minicamp and the start of training camp in July. New York’s minicamp will run from June 11-13, meaning clarity on the situation should arise by that point.

As Raanan notes, the Giants are proceeding as if Waller deciding to play would be a “pleasant surprise.” The former Pro Bowler posted a second consecutive 1,000-yard season in 2020, but he has been beset by hamstring injuries for much of the time since. His trade from the Raiders to the Giants brought about expectations for a rebound, but he was limited to 12 games and one touchdown catch. New York has made preparations for a Waller-less tight end room this offseason.

The team still has 2022 fourth-rounder Daniel Bellinger (who has started 24 of his 29 games) on his rookie pact. He is joined by free agent additions Jack Stoll and Chris Manhertz, as well as Theo Johnson, who was drafted in the fourth round. That group will look to serve as capable pass catchers if Waller does indeed elect to hang up his cleats.

The latter is on the books for three more years, but none of his remaining salaries are guaranteed. The Giants would generate $11.63M in cap space against a dead money charge of $2.46M by moving forward with a post-June 1 release. If Waller decides to end his playing tenure, he will depart the NFL with just over $42M in career earnings.