Report: Victor Cruz restructures contract to remain with Giants

Victor Cruz has agreed to take a pay cut to remain with the Giants but can earn it back in 2016.

Victor Cruz has agreed to restructure his contract and will remain with the New York Giants, reports Rand Getlin of the NFL Network.

His salary for 2016 dropped from $7.9 million to $1.3 million, according to Art Stapleton of the Bergen Record.

With the new deal, Cruz will have the ability to earn back all of the money he would have made under his original contract for 2016 and his contract is largely unaffected by this restructure in 2017 and 2018, according to Getlin.

Cruz shared a photo on Instagram with the caption, “Once a Giant always a Giant. See you in September.”

Giants were looking to avoid paying him $7.9 million in base salary with a $9.9 million salary cap hit for the 2016 season.

Cruz is signed with New York through the 2018 season after inking a five-year, $43 million deal in 2013.

Cruz missed the 2015 season as he tended to a calf injury and underwent surgery. He has not played since being sidelined by a patellar tendon injury in October 2014.

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In 2011, Cruz posted a career-high 1,536 yards with nine touchdowns, but has declined in the seasons that followed as he’s dealt with injuries.