The New York Giants face a May 1 deadline to decide on cornerback Deonte Banks’ fifth-year option, but the outcome appears certain well before then. Banks, who will soon turn 25, would earn nearly $12 million for the 2024 season if the Giants exercise his option. Given his struggles and lack of playing time, declining the extension seems the only reasonable path forward.
General manager Joe Schoen orchestrated a trade with the Jacksonville Jaguars to select Banks 24th overall in the 2021 NFL Draft, hoping he would become a premier shutdown corner. Yet, three seasons in, Banks’ performance has fallen far short of expectations, leading to growing doubts about his future in New York.
Evaluation of Banks’ Performance Highlights Serious Concerns
According to Pro Football Focus, among all cornerbacks with at least 2,000 snaps played over the past three years, Banks holds the lowest overall grade at 43.8. His struggles extend beyond statistics; he consistently gets beat in coverage, exhibits poor effort, and fails to track the ball properly during plays.
These on-field difficulties have diminished his role, making it hard for the Giants to justify investing close to $12 million into a player who rarely contributes effectively. The growing consensus is that both Banks and the team would benefit from parting ways after the 2023 season, if not earlier.
Banks’ Declining Role and Depth Chart Battles Signal a Diminished Future
The irony is evident: Banks was drafted as the Giants’ anticipated shutdown cornerback but is now more likely suited for a supporting or return specialist role. The Giants attempted to address coverage concerns by signing Paulson Adebo during the offseason to assume the team’s No. 1 cornerback position.
Banks’ inconsistency led to his demotion from CB1 to competing with fourth-year cornerback Cor’Dale Flott for the CB2 spot. Defensive coordinator Shane Bowen ultimately favored Flott by Week 3, relegating Banks to the bench. This outcome starkly contrasts with the original plan for him to be a foundational defensive player.
Financial and Strategic Implications of Declining the Fifth-Year Option
Banks’ physical traits—standing 6-foot-1 and weighing 200 pounds—combined with his athleticism were expected to make the fifth-year option an automatic decision for a first-round pick. However, the Giants must weigh these attributes against performance and effort issues that have plagued his development.
Paying $11.97 million for an underperforming cornerback stretches the team’s budget without guaranteed returns. The Giants appear unwilling to commit that salary to a player who currently contributes little, setting the stage for Banks’ likely release or trade. This decision reflects broader efforts to improve the team’s defensive consistency and reliability.
Next Steps for Banks and the Giants Moving Forward
Declining the fifth-year option marks the first step toward ending the partnership between Banks and New York, potentially allowing both sides to seek a better fit elsewhere. The Giants continue to build their defensive backfield with players like Adebo and Flott, focusing on stability and performance.
For Banks, finding a fresh start with another team could offer a chance to revitalize his career away from the pressure and setbacks experienced in New York. Meanwhile, the Giants must manage salary cap implications and roster construction as they prepare for the upcoming season, prioritizing reliability at cornerback.
