Report: Giants to offer receiver Victor Cruz $7 million per year

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The Giants reportedly offered receiver Victor Cruz a contract extension. (Al Bello/Getty Images)

Giants receiver Victor Cruz will reportedly partner with Jay-Z's new sports management firm. (Al Bello/Getty Images)

The New York Giants are set to offer wide receiver and restricted free agent Victor Cruz a contract that will exceed more than $7 million a year, reports the New York Daily News.

The offer to Cruz reportedly has a "sizable amount" of guaranteed money. Cruz made $490,000 last season and last week the team placed a first-round tender on Cruz worth $2.879 million.

Cruz, 26, caught 82 passes for 1,092 yards and 10 touchdowns last season after having a breakout campaign in 2011 when he caught 82 balls for a franchise record 1,536 yards and nine scores.

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.