Report: Giants Recent Offer To WR Victor Cruz Was $8M Annually

Update:

Ralph Vacchiano of the New York Daily News reports that the Giants most recent offer to restricted free agent Victor Cruz was worth close to $8 million annually and includes something in the range of $15-18 million guaranteed.

The Giants are still hoping to get a deal finalized at some point, but Cruz’s asking price could still be much higher than the team’s recent offer. During free agency, receivers like Mike Wallace, Dwayne Bowe and Greg Jennings all secured better deals than what the Giants are currently offering him.

Here’s a simple breakdown of these players contracts:

• Wallace – five-years, $12 million annually and includes $30 million guaranteed.
• Bowe – five-years $11.2 million annually and includes $26 million guaranteed
• Jennings – five-years, $9.5 million annually and includes $18 million guaranteed.

I’m sure we’ll hear plenty of news and speculation regarding this situation in the next few months.

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Ralph Vacchiano of the New York Daily News reports that sources have informed him that the Giants have an offer on the table for WR Victor Cruz that would pay him $7 million annually.

Cruz is currently a restricted free agent, but has yet to sign his first-round tender that’s worth $2.879 million.

Vacchiano adds that a league source believes there’s almost no chance Cruz signs that deal. Instead, Cruz appears to be prepared to play out the 2013 season under his restricted tender with the intention of beating that offer by a pretty wide margin.

Cruz appears to be focused on remaining in New York, but it will almost certainly require an improved offer from the Giants to ensure that he’s back next season. They still have to address the contract of WR Hakeem Nicks as well, so we’ll have to see if any progress is made before the start of the season.