A source familiar with negotiations told Around The NFL that Cruz and the Giants have agreed on a paycut and restructured deal to keep the receiver on the roster at a more suitable number. Cruz was entering the fourth year of a six-year, $45.879 million extension and was expected to make $7.9 million in 2016.
According to NFL Media Insider Ian Rapoport, Cruz took a pay cut from his $7.9 million base salary to a base of $1.3 million, per a source informed of the move. He gets $2.5 million total guaranteed for '16, but can earn back an additional $3 million in per-game roster bonuses. In addition, he can earn the rest of the $7.9 million in other incentives.
Cruz hinted at the deal on Wednesday night, telling Giants fans "See you in September."
Unfortunately for Cruz, injuries got in the way of a Cinderella story. He tore his patellar tendon back in 2014 -- a devastating injury that can derail a career on its own. In 2015, a promising spring and summer were halted by calf issues. He did not see the field at all. In his first two years as a regular starter in 2011 and 2012, Cruz put up 168 catches for 2,628 yards and 19 touchdowns.
Visions of pairing the dynamic wideout with Odell Beckham Jr. were enticing, but never came to fruition. During training camp over the summer, he was blowing through the typical rehab timetable and making impressive cuts during live action practices. The familiarity with Eli Manning is there, but the Giants need to see a healthy wide receiver before they get their hopes up.