We have spent -- and will continue to spend -- a great deal of time talking about New York Giants quarterback Eli Manning's contract. At $19.75 million, Manning's is by far the largest salary cap hit on the Giants' 2015 roster at this point, and they'd be wise to extend his contract beyond 2015 to get some relief from that.
But on a separate note, I'm curious to see whether the Giants feel the need to do anything about the second-highest cap hit on their roster -- the $8.125 million number that belongs to wide receiver Victor Cruz.
Cruz signed his long-term deal prior to the 2013 season. He has four years left on that deal at an average salary of $7.5 million per year and an average cap hit of $9 million per year. This year's salary is a palatable $6.15 million. Next year's is a more exorbitant $7.9 million. None of the remaining salary in his deal is guaranteed.
Now, if Cruz produces the way he produced in the two years before he signed the deal -- two years in which he averaged 84 catches, 1,314 yards and 9.5 touchdowns -- these numbers are no problem. However, his production dropped in 2013 (73 catches, 998 yards, 4 touchdowns and missed the final two games due to injury). And in the sixth game of the 2014 season, he tore the patellar tendon in his right knee and had to have major surgery that ended his season.
There is no guarantee Cruz comes all the way back from the injury, or that he's the same kind of explosive player he was before it happened. The Giants hope he makes a full recovery, and he and they are optimistic he will. Offensive coordinator Ben McAdoo has some creative ways to use Cruz that he didn't get to show much in 2014 before the injury. The team's preference would be to have Cruz all the way back and earning his contract in their new offense for the next four years.
But this is a cold business, this NFL contract business. And with Odell Beckham Jr. having exploded onto the scene as a superstar talent and producer in Cruz's absence, the Giants may well have the leverage they need to seek a reduction in Cruz's salary over the remaining four years of the deal. And it may be in their best salary-cap interest to seek that reduction. They can point out the 12 missed games over the past two years and use Beckham's emergence to help their case and maybe shave a couple of million bucks off of that cap number this year.
Doing this would run the risk of alienating one of the team's best and favorite players. Cruz is a selfless, team-first guy who showed up in 2014 training camp after signing the deal and told the coaches he wanted to work on becoming a better downfield blocker in the run game. He's a special guy, and the Giants know this, and because of that they may decide this isn't a road they want to travel. That contract definitely means something to him, and it may well hurt his pride if they come to him and threaten him with a release while telling him Beckham has passed him -- even if it's just a negotiating tactic.
Cutting Cruz would only save the Giants $2.425 million cap space this year, so assuming they believe he's going to make it all the way back that's not a worthwhile way to go. But given the way things have gone since Cruz signed that deal a year and a half ago, it's not crazy to at least look at making some changes to it.