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Report: Giants to release WR Kenny Golladay two years after signing $72M contract

Sep 26, 2022; East Rutherford, New Jersey, USA; New York Giants wide receiver Kenny Golladay (19) reacts during the second half against the Dallas Cowboys at MetLife Stadium. Mandatory Credit: Brad Penner-USA TODAY Sports
New York Giants wide receiver Kenny Golladay will be cut on the first day of the league year. (Brad Penner-USA TODAY Sports)

After two years, the New York Giants will release wide receiver Kenny Golladay on March 15, according to ESPN's Adam Schefter.

Golladay signed a four-year, $72 million contract with the Giants in 2021. He totaled 43 receptions, 602 yards and one touchdown on 93 targets during his Giants tenure. His stats compared to the $36 million he earned in New York illustrate a staggering inefficiency that Giants fans will likely remember for years to come.

By waiting until the start of the league year to cut him, New York will save $6.7 million against their salary cap and take on $14.7 million in dead money. That cost is still a relief from the $21.4 million cap hit Golladay held in 2022. The team will still reportedly pay him a $4.5 million cash roster bonus.

The 29-year-old's only touchdown for the Giants came on Jan. 8, 26 full games and almost 22 months after he signed the deal. He made the one-handed catch during a Week 18 22-16 loss to the Philadelphia Eagles. The game did not affect New York's playoff position as the No. 6 seed. The two teams met again in the divisional playoffs, where the Giants' season ended in a 38-7 blowout.

His 2022 season was marked by his frustrations over his role. Head coach Brian Daboll played Golladay in only 27 percent of the team's offensive snaps prior to Week 18, which was fourth among Giants receivers and slightly more than David Sills and Marcus Johnson. The year prior, Golladay played in 14 games while dealing with hip, knee, groin and rib issues, and had an unspecified procedure afterward.

Golladay was expected to be a huge target and boost the Giants' offense after he spent four seasons with the Detroit Lions. In that time, he posted two consecutive 1,000-yard receiving seasons and was selected to the Pro Bowl in 2019 when he recorded career highs of 1,190 yards and 11 touchdowns.