The New York Giants may have saved money by trading star wide receiver Odell Beckham Jr. less than a year after his lucrative extension, but now they've redirected some of those savings to another pass catcher.

According to NFL Network's Mike Garafolo, the Giants are finalizing a four-year, $41 million deal with Sterling Shepard, the team's No. 2 WR in 2018 who was entering a contract year. More than half of the big-money extension -- $21.3 million -- will be guaranteed, per ESPN's Adam Schefter.

A second-round draft pick of New York in 2016, Shepard figures to play an even more prominent role in the Giants' offense following Beckham's departure, but he's been a full-time starter out wide since his rookie season. The 26-year-old Oklahoma product has yet to eclipse 900 receiving yards in a single season, but he's also seen his yardage total rise each year since entering the NFL, logging a career-best 872 on 66 catches in 2018. Shepard has flashed big-play ability, scoring eight touchdowns in 2016 and averaging almost 14 yards per catch in 2018, a year after missing five games due to migraines.

As Garafolo noted, Shepard's reported $41 million extension instantly makes him the Giants' highest-paid WR and gives him a higher average annual salary than most wideouts who hit free agency this offseason. His $10.25 million per-season average, for example, tops those of Tyrell Williams, John Brown and Devin Funchess, all of whom inked new deals in March.

Shepard's not the only WR to get big bucks from the Giants in the wake of Beckham's unceremonious departure. New York also gave former Detroit Lions, Philadelphia Eagles and Seattle Seahawks veteran Golden Tate a four-year, $37.5 million contract in free agency.