The new Cruz deal is done; his cap number for 2013 has went DOWN

With the completion of the new Victor Cruz deal, his 2013 cap number has actually went down from $2,879,000 to $2,530,00. This created an added $349,000 in cap room for the Giants. This would increase their cap space from $3,308,682 to $3,657,682. Gotta give credit to Patricia Traina from insidefootball.com on this. She nailed when she said that the cap number for 2013 may be less than what it is now. Check out her article about the subject immediately below:

• "Victor Cruz, New York Giants Makes It Official" - Published 07/08/2013 | by Patricia Traina

Here's the contractual breakdown from overthecap.com:

Here's an article on the subject as well written today by Jason Fitzgerald from overthecap.com:
"Victor Cruz Signs Extension: PFT With Contract Details"


•If you factor in the signing of Pugh, the cap number should go down about $961,436.
•That would bring down the Giants' cap number to approximately $2,696,246 after the Pugh signing.
•Nassib's signing wouldn't affect the Giants' overall cap number since it wouldn't fit into the their Top 51 cap numbers (the Top 51 accounting rules are in effect now until September 5th).

•I wouldn't be surprised to see a restructure to Weatherford's contract next.
•It could net the Giants up to an additional $738,750.
•This would bring the Giants' cap number up to $3,434,996.

Victor Cruz and the Giants are reportedly very close to a deal (again); possibly agreed upon today

Check this tweet out by Mike Garafolo:

Source: https://twitter.com/MikeGarafolo/status/354259768413659136


Pro Football Talk has the terms as averaging out to $8.5 million annually as per this tweet:

Source: http://profootballtalk.nbcsports.com/2013/07/08/giants-cruz-very-close-to-a-long-term-deal/


Let's wait and see what happens with this. Where there's smoke, there's fire. The advantage of this getting doen before the Pugh deal is that the Giants don't have to restructure/extend any contracts. Presumably, they should have enough cap room to male this deal with Cruz--if it's announced to day, thereby not necessitating any cap moves beforehand.

A cap move should made shortly thereafter though, in order to sign Pugh, since his estimated contract terms will bring the Giants' 2013 cap number down by about a million dollars. It all depends on the terms of the Cruz deal. Off the top of my head, I'd expect a 2013 cap number of something close to the $4 to $6 million range.