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Report: Giants to release WR Victor Cruz unless he agrees to pay cut

The Giants are negotiating with Victor Cruz and his agent over a pay cut that would allow the wide receiver remain with the team. 

The New York Giants have reportedly informed wide receiver Victor Cruz that he will be cut unless he agrees to a pay cut, reports ESPN’s Ed Werder.

Negotiations on a new deal are underway, Werder reports.

The Giants are looking to avoid paying him $7.9 million in base salary with a $9.9 million salary cap hit, which is the second-most on the team behind quarterback Eli Manning. Cruz is signed with New York through the 2018 season after inking a five-year, $43 million deal in 2013.

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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.

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

NFL free agency will begin on Wednesday.