A team is eligible to receive compensatory draft picks if it is determined that they lost more or better players than they were able to acquire during the previous year's free agency period. The number of picks a team receives equals the net loss of compensatory free agents (maximum of four). Compensatory free agents are determined by a formula that was developed by the NFL Management Council. Not every free agent lost or signed by a team is covered by this formula.
The basics that affect comp picks are:
1. Players that are cut or not tendered as RFAs and ERFAs are not counted.
2. Players earning low minimum salaries do not count. (The estimated cutoff for considering players eligible, based upon last year, is in the $800,000 range.)
3. Each player signed cancels out one player lost.
4. The round of the pick awarded is primarily determined by the annual value of the contract signed. Signed players cancel out lost players with equal contracts, then lower contracts, before canceling out higher contracts.
It should be noted that although the NFL makes public the basic rules above, even the NFL teams do not know the exact picks that they will be awarded.
Here are the projections.
The Giants lost the following (6) qualifying free agents;
Domenik Hixon (Signed by the Panthers; 1-Year, $1.2 million)
Martellus Bennett (Signed by Bears; 4-Years, $20 million)
Osi Umenyiora (Signed by Falcons; 2-Years, $8.5 million)
Chase Blackburn (Signed by Panthers; 2-Years, $1.75 million salary)
Kenny Phillips (Signed by Eagles; 1-Year; $2 million)
Lawrence Tynes (Signed by Buccaneers; 1-Year, $840,000 salary)
The Giants signed the following (5) qualifying free agents;
Josh Brown (Signed from the Bengals, 1-year, $940,000 salary)
Ryan Mundy (Signed from the Steelers, 1-year, $715,000 salary)
Luis Murphy (Signed from the Panthers, 1-year, $715,000 salary)
Brandon Myers (Signed from the Raiders, 4-year, $14.25 million salary)
Kyle Bosworth (Signed from the Jaguars, 1-year, $550,000 salary)
The net gain / loss are;
1. Bosworth, Murphy, and Mundy, are not included in the calculations to determine compensation as their contracts are below the estimated $800,000 minimum salary criteria.
2. Brandon Myers contract is voidable, and as such would be a 1-year $1,100,000 salary which would cancel out Phillips contract.
3. Brown and Tynes contracts cancel each other out.
4. Based upon last years contracts this leaves the Giants with the following possible compensation;
Bennett (4th Round)
Umenyiora (5th Round)
Blackburn (7th Round)
The actual compensation varies based upon a more complicated formula that includes playing time, production, signing bonuses, etc.,however, it does appear that the Giants will be entitled to (3) compensatory picks between the 4th and 7th rounds.