From Greg Hanlon of capitalnewyork.com:
In the Super Bowl seasons of 2007 and 2011, the Giants metamorphosized without warning from mediocrities into world-beaters. In seemingly every other season of the Coughlin era, they’ve done the exact opposite.
Given this, the recent releases, within a 24-hour period, of longtime contributors Ahmad Bradshaw, Chris Canty, and Michael Boley were “shocking,” yes. But they weren’t really surprising when considering the stark salary cap realities facing the Giants.
Before the moves, the Giants were a reported $9.15 million over the salary cap. By cutting these players, the Giants just freed up $13.75 million in cap space, and, by the above estimates, are now $4.6 million under the cap.