New York Giants wide receiver Victor Cruz has said he is willing to take a reduction in pay to remain with the team, and a source says the Giants have given the player just such an ultimatum.
The Giants are in negotiations with agent Tom Condon regarding Cruz, who has been told he will be released unless his contract is renegotiated, the source said.
With free agency scheduled to begin Wednesday, the Giants and Cruz consider this a priority and are working toward a potential resolution. It is not known how much the Giants are willing to pay Cruz, who hasn't appeared in an NFL game in 17 months because of injuries.