By May 1, NFL teams were tasked with a major decision regarding the fifth-year option on the rookie contracts of their 2023 first-round selections.
Out of these players, twenty had their options secured, two secured long-term deals, while nine had their guaranteed options declined. One notable player dealing with the pressure of a declined option is New York Giants cornerback Deonte Banks. Banks’ performance has slipped each year in the NFL. During his rookie season in 2023, he managed two interceptions, 11 defended passes, and 64 tackles across 15 games, all of which he started. However, by 2024, Banks failed to record any interceptions, though he did force one fumble and made 52 tackles over 14 games, maintaining his starting role throughout.
In 2025, the Giants shook up their lineup by bringing in New Orleans Saints cornerback Paulson Adebo on a lucrative three-year, $54 million deal, with $34.75 million guaranteed. They also promoted 2022 third-round pick Cordale Flott to a starting position. Consequently, Banks participated in 16 of 17 games that year but only started six. He recorded five passes defended, no interceptions, no forced fumbles, and 31 tackles. His coverage performance deteriorated annually; TruMedia reported his passer rating allowed as a primary defender climbed from 67.5 in 2023 to 90.6 in 2024, peaking at 111.8 in 2025. This 2025 rating ranked him 206th among the NFL’s 208 players who faced at least 35 passes last season.
Why the Giants declined Banks’ option and what’s next
The fifth-year option offers players a guaranteed salary for the fifth season of their career, with its value influenced by several factors, including the player’s position. Players with multiple Pro Bowl appearances in their first three years can earn a substantial salary equivalent to the franchise tender for their position, according to Over The Cap. A single Pro Bowl appearance secures them a salary equivalent to the transition tender. Salary structures labeled as “playtime” and “basic” further determine a player’s earnings.
The reason behind the Giants’ decision to decline Banks’ option, valued at a guaranteed $12.633 million for 2026, is straightforward: his consistent decline in performance. New York also fortified their cornerback reserves in the 2026 offseason to avoid relying on Banks as a starter. They signed Greg Newsome II, a 2021 first-round cornerback, to a one-year, $8 million contract and selected Tennessee’s Colton Hood with the 37th pick in the 2026 NFL Draft.
Best- and worst-case scenarios for the Giants and Banks
The Giants would celebrate if they could trade Banks for even a late-round draft pick to a team in need of cornerback depth. Failing that, Banks is likely to spend another year on the bench, potentially stepping in if injuries arise, before hitting free agency in 2027.
The best-case scenario for Banks individually would be for him to display the talent that led to him being the 24th overall pick in the 2023 NFL Draft and overtake Newsome for a starting job in training camp. His worst-case scenario is remaining on the Giants as a backup after training camp and being unable to earn anything outside of a prove-it deal as a 2027 free agent.
