Knee Surgery For Giants’ Osi Umenyiora; Out 3-4 Weeks

We now have more details on that second point, his knee injury. The Giants announced on Friday morning that Umenyiora would be undergoing arthroscopic surgery on his right knee. The recovery time is 3-4 weeks which means he could be in danger of missing the regular season opener.

Giants GM Jerry Reese explained the situation in a statement on the Giants website:

For more on the saga of Osi Umenyiora and the effect it has on the New York Giants, check out Big Blue View.

The agent reportedly said “I’m hoping this will get him back on the field,” but for a player who’s been unhappy with his contract — which pays him $7.1 million over the next two years — this smells fishy to say the least.

To be fair to Osi, the Giants reportedly set up the appointment in Atlanta for him, and Youngmisuk’s source says it’s a meniscus injury that likely won’t require surgery.

So now the Giants have rescinded the permission given to Umenyiora to seek a trade, according to the Star-Ledger. He is no longer allowed to seek a trade which means that, for now, he’s a Giant.

Umenyiora signed a seven-year deal in 2005 and is due $7.1 million over the next two years. While he is underpaid, that’s the downside to gaining contract security through a seven-year deal -- at some point that contract is out of date.

Baltimore certainly seems like a possible destination, but Preston reports that salary cap issues might get in the way.

The Giants haven’t yet found a team willing to give up a first-round pick for Umenyiora - they’re wary of his health, and these kinds of deals for first-round picks don’t happen that often. Umenyiora reportedly wants to go to the Seahawks.

To have a real trade market develop, though, the Giants might have to stop asking for a first-round pick. If they were to reduce the price, they might begin to get more offers. Still, a deal is likely to happen eventually, since the Giants are allowing Umenyiora’s agent to pursue a trade:

Kinda with Osi on that one.

The problem with acquiring Umenyiora is two-fold. First, it’s going to cost a lot -- a first round pick. We don’t see a lot of trades involving first round picks so that’s the first hurdle. The second hurdle is getting him a new contract and defensive ends aren’t cheap so it would be a big deal.

Umenyiora signed a seven-year deal in 2005 so he has two years remaining on his current contract.

Umenyiora is close to finishing a seven-year deal he signed in Dec. 2005 that payers him $3.125 million this season and $3.975 million in 2012. The total deal was worth just over $41 million. Given his production since that season (37-1/2 sacks) he is certainly ready for a bigger payday in New York or with another team.

For more on Osi Umenyiora and the Giants, visit Big Blue View and SB Nation New York.

This is an interesting string of events as it seems that what should have been a stalemate of epic proportions is now just going to turn into something awkward as Umenyiora goes through the motions with a team’s he already voiced his displeasure with under the current circumstances.

His leverage? Holding out of camp.

According to NFL Network’s Jason La Canfora (and first reported by WFAN in New York), Umenyiora wants a trade or a new deal. La Canfora reports he won’t be in New York for his physical this morning but could show up later in the day.