The New York Giants and receiver Victor Cruz are nearing agreement on a long-term contract. The deal, which is expected to be worth around $8.5 million, could be completed as soon as Monday, Pro Football Talk reports.
Cruz avoided a potential holdout by signing a one-year, $2.987 million tender last month with the Giants. While the restricted free agent is locked for the 2013 NFL season, the Giants and slot receiver are closing in on a long-term contract. The deal could be finished as early as Monday.
Originally, Cruz sought a contract worth close to $10 million per year, whereas New York wanted to offer only around $7 million. Cruz's potential multi-year deal is "very close" to completion and will likely be in the annual range of $8.5 million, according to PFT.
Considered one of the league's premier slot receivers, Cruz emerged as a star in the 2011 season. He was signed by the Giants after going undrafted in the 2010 NFL draft and has since accumulated 168 receptions, 2,628 receiving yards, 19 touchdowns and one Pro Bowl in his career.
The impending deal with Cruz shouldn't affect contract negotiations with receiver Hakeem Nicks. Although the Giants can now use the franchise tag in 2014 on Nicks, the team would like to lock Nicks down to a multi-year deal.
Nicks, who is primarily an "outside" receiver, will seek a deal similar to the deals of receivers like Calvin Johnson, Larry Fitzgerald and Mike Wallace.
Staying healthy this season is imperative for Nicks if he wants money like the Johnsons and Fitzgeralds of the NFL. He missed the OTAs for an undisclosed reason, but has been working out with quarterback Eli Manning, according to the Newark Star-Ledger.