The Giants' long-term offer to Victor Cruz exceeds $7 million annually with a “sizable amount” of guaranteed money, according to a new report.
The offer, reported by the New York Daily News' Gary Myers, was apparently not good enough for the 26-year-old restricted free agent.
Still, Myers believes Cruz's recent switch to agent Tom Condon means the sides should “get a contract done rather than Cruz playing for the $2.879 million tender.”
The Giants used a first-round tender on Cruz after team owner John Mara said he rejected a “very substantial offer.” It is not clear if that offer was the same one Myers revealed.
Other teams have until April 19 to sign Cruz to an offer sheet. They'd also have to give the Giants a first-round pick, making it unlikely he leaves New York.
Quarterback Eli Manning, concerned about losing his leading receiver, said last week he'd consider restructuring his contract to get Cruz signed.
Over the last two seasons, Cruz has averaged 84 catches for 1,314 yards and 9.5 touchdowns.
Myers' report supports a recent statement from Giants co-owner Steve Tisch, who said Cruz will end up getting more than the $6 million annually Wes Welker received from Denver.