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Report: Giants restructure Manning's contract

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By PFW staff

Giants QB Eli Manning has restructured his contract for the 2012 season, according to Ralph Vacchiano of the New York Daily News.

Manning's base salary for 2012 dropped from $10.75 million to $1.75 million, making his cap number $9.6 million for the season. It creates $7 million in cap space for the Giants.

The defending Super Bowl champs were reportedly $9 million over the cap.

Vacchiano also reported that the Giants re-signed exclusive-rights free-agent TE Jake Ballard and RFA CB Bruce Johnson, who missed all of last season after rupturing his Achilles tendon in training camp.

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