The New York Giants are releasing wide receiver Kenny Golladay on March 15, the first day of the league year, a source told ESPN's Adam Schefter.
By waiting until March 15, the Giants will save $6.7 million against their salary cap.
Golladay, who signed a four-year, $72 million deal with the Giants as a free agent in 2021, had just six receptions for 81 yards and a touchdown in 12 games last season. His two-year total with the Giants was 43 receptions, 602 yards and the lone touchdown.
Golladay, 29, spent his first four seasons with the Detroit Lions, eclipsing 1,000 yards twice, including in 2019 when he had career highs with 1,190 yards and 11 touchdowns to earn the only Pro Bowl selection of his career.