Darius Slayton took a pay cut to remain with the New York Giants.
The receiver dropped his salary from $2.54 million to the league minimum ($965,000), NFL Network Insider Mike Garafolo confirmed Wednesday, per a source informed of the situation.
Tom Rock of Newsday first reported the news.
The move saves the Giants around $1.6 million in salary cap space. Slayton can earn some of the money back through playtime incentives.
Slayton was excused from Tuesday's practice, leading to speculation he could be cut. The reworked deal indicates he was on his way out if he didn't take a pay cut.
In three seasons with the Giants, Slayton has earned 124 catches for 1,830 yards and 13 touchdowns but is coming off a down campaign.
The 25-year-old currently is buried on the depth chart behind Kadarius Toney, Kenny Golladay, Sterling Shepard and rookie Wan'Dale Robinson, along with the likes of David Sills and Richie James. His new contract is more in line with this standing.
It makes sense for Slayton to remain in New York behind injury-prone wideouts in hopes he can find his way onto the field in 2022.
