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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. 
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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.