The Giants will release Golladay on March 15, Adam Schefter of ESPN reports.
By waiting until the new league year starts, the Giants will save $6.7 million against their salary cap. The 2017 third-round pick signed a massive four-year, $72 million contract with New York in March of 2021, but he failed to live up to the lofty deal, making his release unsurprising. He posted back-to-back 1,000-yard seasons with the Lions in 2018 and 2019 and secured 16 touchdowns during that stretch. However, he's caught just 63 passes for 940 yards and three scores in 31 appearances over the past three seasons. Per Field Yates of ESPN, Golladay will still be owed $4.5 million by the Giants after his release, so he may be willing to take a cheaper deal with a contending team in 2023, though it remains to be seen what type of attention he'll draw as a free agent.