Giants

Report: Giants Agree To A Five-Year Extension With WR Victor Cruz

July 8, 2013

Update:

Jay Glazer is reporting that the Giants have reached an agreement with WR Victor Cruz on a five-year extension worth $43 million.

Glazer adds that the contract is expected to be signed by Tuesday.
Mike Garafolo reports that Cruz will receive $15.6 million guaranteed.
After you factor in Cruz’s 2013 restricted tender of $2.987 million, he’ll make $45.879 million over the next six seasons.
Cruz will not be a free agent until he’s 32.
He’ll average $7.6 million over the course of six years, which leaves him as the No. 17 highest paid wide receiver.
Ed Werder reports that Cruz’s contract includes a $9.5 million signing bonus and a $1.5 million 2014 roster bonus.

Here’s a comparison to some of the recent contracts signed by receivers:

Victor Cruz: five-years, $43M with $15.6M guaranteed. (Avg – $7.6 million)
DeSean Jackson: five-years, $47M with $15M guaranteed. (Avg – $9.4 million)
Percy Harvin: six-years, $67M with $25.5M guaranteed. (Avg – $11.16 million)
Wes Welker: two-years, $12M with all $12M guaranteed. (Avg – $6 million)
Danny Amendola: five-years, $28.5M with $10M guaranteed. (Avg – $5.7 million)

We had Cruz listed as the No. 4 player in our Top 50 – 2014 Free Agents list.

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Per a ProFootballTalk source with knowledge of the negotiations, the New York Giants and wideout Victor Cruz are “very close” to finalizing along-term deal for the Pro Bowl receiver.

The source says the deal could come very soon. Even as early as Monday afternoon.

Cruz, 26, has been an instant spark plug for the Giants offense since coming into the league. In just two professional seasons as a full time receiver, Cruz has already caught 168 passes for 2,628 and 19 touchdowns.

Should this deal happen, it would lock up one of the Giants two young receivers. The other, Hakeem Nicks, would become the next priority for New York to attend to. The organization had to deal with Cruz first and it appears as they have.

Mike Garafolo of FOX Sports adds that the salary average is expected to be in the $8-9 million range, leaving room to please Nicks’ pockets as well.
Ed Werder confirms that Cruz is expected to average over $8.5 million and under $9 million per season in his next contract.

Cruz would earn $2.987 million as a restricted free agent this season, so this would be a sizable pay increase. However, it’s less than his previous target of $10 million annually, but an average salary of $8-9 million is a competitive offer for a slot receiver.