New York Giants restructure contract of veteran LB Bobby Okereke

With the “Top 51” accounting deadline closing on Thursday, the New York Giants have restructured the contract of inside linebacker Bobby Okereke.

Just as they did on the doorstep of last regular season, the Giants have restructured the contract of LB Bobby Okereke, creating $4.5M in 2024 cap space.

— Field Yates (@FieldYates) September 5, 2024

Under the “Rule of 51” in the NFL, only the most expensive 51 cap hits are counted against the salary cap, which is $255.4 million for the 2024 season.

Okereke signed a four-year, $40 million free agent deal last March. He spent his first four seasons with the Indianapolis Colts.

This is the second time since Okereke signed that deal that the Giants have restructured. Last September, they converted $820K of his 2023 salary into a signing bonus, clearing $615K of cap space.

In his first season with the Giants, Okereke recorded 149 tackles (11 for a loss), six QB hits, 2.5 sacks, four forced fumbles, 10 passes defensed, and two interceptions.