From Gary Myers of the Daily News:
Sources say the Giants’ offer to Cruz exceeds $7 million per year, with a sizable amount of guaranteed money in a long-term deal that would still leave the 26-year-old Cruz time in his career to sign another contract. Switching to agent Tom Condon, who is a deal maker with a good relationship with the Giants, should mean they get a contract done rather than Cruz playing for the $2.879 million tender.
At the moment, it doesn’t appear Cruz is going to get an offer sheet from another team. Condon is Eli Manning’s agent and holds an important place in Giants history. In the days before the 2004 draft, he broke the news to the Chargers that Archie Manning said Eli would not play for them, which forced the draft day trade to the Giants.
This week, former Packers WR Greg Jennings signed a $48 million, five-year deal with Minnesota, which made him the seventh highest-paid WR in the league behind Calvin Johnson, Larry Fitzgerald, Mike Wallace, Dwayne Bowe, Percy Harvin, and Vincent Jackson.
WR Wes Welker, whom Cruz is widely compared to on the field as a slot receiver, got a two-year, $12 million deal from Denver last week. He reportedly was offered $14 million from his old team, New England and turned them down.
Cruz would get a 'sizeable amount of guaranteed money', which is what really counts in NFL contracts. Only $17.8 million of Jennings' deal is guaranteed. Although Cruz' deal would probably be less per year, the Giants would most likely guarantee Cruz a bit more than than what Jennings got.