Giants rework WR Sterling Shepard's deal, clear $3.99M in cap room

The Giants have converted $5.985M of Sterling Shepard’s base salary into a signing bonus (Twitter link via Field Yates of ESPN.com). The adjustment gives the Giants $3.99M additional room while increasing Sterling’s 2022-2023 cap charges by $1.995M.

Shepard has been a focal point of the Giants’ offense for the last five years, totaling 313 catches for 3,518 yards and 20 touchdowns. He matched his career best in receptions last year (66) in just 12 games, though his 656 yards were down from his usual work. Shepard finished 2020 with 9.9 yards per grab, a number that he’ll look to improve upon this year.

Fellow wideout Darius Slayton and tight end Evan Engram were the only Giants to receive more looks from Daniel Jones (and Colt McCoy) in 2020. Still, Shepard caught more passes than anyone on the team.

Shepard and the Giants will open the 2021 season on Sunday when they take on the Broncos at MetLife Stadium.