Giants Make Kenny Golladay Cut Official

Receiver Kenny Golladay was officially released by the New York Giants Wednesday after two disappointing seasons with the team.

The team has officially released Golladay, who signed a four-year, $72 million free-agent contract before the 2021 season. 

According to multiple reports, Golladay was designated as a standard transaction, meaning what's left of his contract will come off the team's books this year. The Giants will save $6.7 million in cap space but will eat $14.7 million in dead money, their dead money total boosted to $22.739 million for 2023.

The Giants likely designated Golladay as a standard transaction to help replenish their dwindling cap space, which had them over by $1 million prior to the move. With the move, the Giants now have $4.556 million in cap space, pending the details of the Jeff Smith signing.

Golladay appeared in 26 games with 18 starts in his two seasons with the Giants and caught 43 passes for 602 yards and one touchdown in the Giants' 2022 regular-season finale against the Eagles.