On Monday night's Total Access, Rapoport noted that the Giants hope to do a deal before, or early on during the team's training camp. That would give Manning the security of a long-term deal and set the table for a Philip Rivers contract as well.
Manning also excelled under new offensive coordinator Ben McAdoo. Depending on how the end of the Tom Coughlin regime shakes out and how McAdoo plays a part in the organization's future, the two may be a nice pair going forward much like a rejuvenated Ben Roethlisberger and Todd Haley.
The Giants are a team in desperate need of some good news. They could also probably use a salary cap buffer on the front end over the next few years, something an extension could provide depending on the way the money is structured.
No matter what, getting a Manning deal done needs to be a priority.
*The latest Around The NFL Podcast discusses the eight most intriguing training camp battles heading into the season. *