Report: Giants Tell Cruz To Accept Pay Cut Or Be Released

EAST RUTHERFORD, N.J. (CBSNewYork) -- The Giants have reportedly told wide receiver Victor Cruz that if he hopes to remain with the team, he must accept a pay cut.

Cruz has previously said he's willing to rework his contract, which has three years remaining on it and would pay him $7.9 million this season with a cap hit of $9.9 million. The Giants and Cruz's agent, Tom Condon, are negotiating, ESPN reported.

It wasn't clear how big of a pay cut the Giants are seeking.

Cruz, 29, hasn't played in a game since tearing his patellar tendon in October 2014. A calf injury kept him out all of last season.

Cruz told the New York Post last month he is still rehabbing but expects to be able to play in 2016.