Victor Cruz and the New York Giants agreed to a contract extension on Monday — finally.
After months of back and forth between the two sides, Cruz and the Giants hit an accord on a five-year, $43 million extension that will keep the Pro Bowl receiver in New York through 2018, according to Jay Glazer of FOX Sports. Add that extension onto the one-year, $2.8 million tender that Cruz signed in June, and the entire contract is worth more than $45 million, including nearly $16 million guaranteed.
Cruz didn’t exactly get the $10-12 million in annual salary he was looking for, but he did manage to break the bank for about $9 million per year and, maybe more importantly, got some long-term security for himself.
While he didn’t exactly get market value in relation to players like Percy Harvin ($11 million per year) in Seattle or Mike Wallace ($12 million per) in Miami, Cruz did what was best for himself. He wanted to remain with the Giants and didn’t want to deal with the hassle of another season of uncertainty, so signing now made the most sense and ensured he wouldn’t end up like former giants receiver Steve Smith, who recently retired just three seasons after turning down big money.
The Giants now have one of their primary receiving targets under thumb long term and can turn their full attention to locking down Hakeem Nicks as well. Eli Manning must be happy.
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