New York Giants release veteran safety Logan Ryan

EAST RUTHERFORD, N.J. -- The New York Giants have released veteran safety Logan Ryan, the team announced Thursday.

The move saves the Giants a little less than $800,000 against the salary cap, a source said. It's believed the release of the former team captain has more to do with the Giants being in the midst of a defensive reset than with cap space.

The Giants have a new regime led by general manager Joe Schoen. Coach Brian Daboll hired former Baltimore Ravens coordinator Wink Martindale to run the defense.

Ryan bid farewell to New York on social media Thursday.

Ryan, 31, signed a three-year contract extension worth up to $30 million just 15 months ago. It included $11.5 million guaranteed.

Ryan was brought in as a favorite of former coach Joe Judge, who worked with him previously in New England. Ryan was signed in the summer of 2020, and received a contract extension that was announced on Christmas Day later that year.

The New Jersey native and Rutgers product had 92 tackles in his first season with the Giants, second on the team behind Blake Martinez. He also added three forced fumbles.

The team's Walter Payton Man of the Year nominee finished with a career-high 117 tackles this past season. The only two games he missed with the Giants were because of COVID-19.