Giants GM to wait on McKinney extension: 'Our pockets are empty'

New York Giants general manager Joe Schoen said the team is strapped for cash regarding a potential Xavier McKinney contract extension.

"We don't have a lot of cap space to do much more. I think our pockets are empty," Schoen said on the "Evan & Tiki" show, according to Ryan Dunleavy of the New York Post.

The Giants currently have $5.3 million in cap space, per Over the Cap. New York has dished out lucrative deals to its core players this offseason, giving quarterback Daniel Jones a four-year, $160-million deal and defensive tackle Dexter Lawrence a four-year, $90-million contract extension.

Running back Saquon Barkley and the team couldn't agree on a long-term deal after the Giants franchise tagged him. They settled on a revised one-year contract that can pay up to $11 million with incentives.

McKinney has been with the team since being selected in the second round of the 2020 NFL Draft. He missed seven games last season after suffering a broken hand in an ATV accident during the Giants' bye week.

The 24-year-old safety flashed his potential in 2021, racking up five interceptions and 93 tackles in 17 games.

"X is a leader, he was a captain last year, he had the unfortunate incident, but he is a young player with upside," Schoen said.

He added: "We'll see how it plays out through the season. If we can get something done down the road, he's somebody we'd like to have here."

The Giants kick off their regular season on Sept. 10 against the Dallas Cowboys.

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