This was expected outcome after disappointing 2018 season
Dan Duggan of The Athletic was first to report Wednesday afternoon that the Giants will not exercise their option on Stewart’s contract for 2019. Had they done so, Stewart would have earned $2.35 million in base salary with a $2.775 million cap hit.
By declining a $500,000 option on the second year of Stewart’s contract the Giants free up $250,000 in cap space, without taking on any dead money.
After 10 seasons with the Carolina Panthers, the Giants signed the 31-year-old Stewart to a two-year, $6.8 million contract to be a backup to and mentor Saquon Barkley. Stewart carried the ball only six times for 17 yards before going on IR with a foot injury.
Unless the Giants add another back in the draft or free agency, this move means Wayne Gallman will enter the 2019 season as Barkley’s primary backup.