Giants gearing up to possibly lose Victor Cruz

The New York Giants feel they made a substantial offer to keep Victor Cruz in blue for life, but there is a chance that the Giants could still lose their speedy wide receiver on the market this off-season.

The Giants put a first round tender on Cruz, meaning he will be a restricted free agent, and can make $2.9 million this season if he doesn't come to terms on a long term deal with the Giants.

Teams now have the right to negotiate with Cruz and give him the contract that he wants. If the Giants do not match, Cruz will be in a different uniform come training camp 2013. Co-owner John Mara was calm about the idea of possibly losing one of his best players: "Certainly we’re taking a risk,’’ Mara said. “He is an exciting, dynamic player. It’s not going to shock me if somebody makes him an offer.”

The Giants have two things going for them: 1) Cruz changed his agent to Tom Condon, the same agent for Eli Manning and Mathias Kiwanuka. Condon is a deal maker, and has a solid rapport with Big Blue. 2) It has been nearly a decade since a restricted free agent has been lost to an offer sheet.

Still Cruz is a unique case. There are a lot of people who would be happy to go out there and swing a deal to bring a talent like Cruz into the fold. Cruz was third in the NFL in receiving in 2011, and 15th in 2012. He is still 26, and hasn't even hit his prime. Someone will play $10 million per season for a talent like him.

The question is can the Giants afford him? They let Chris Canty and Ahmad Bradshaw go in salary cap dumps, and more moves could be made. They already signed aging defensive tackle Cullen Jenkins to a three-year deal, a contract that I guarantee the Giants will regret after year one of the deal.

Cruz is a guy the Giants can ill afford to lose. He is Manning's favorite target, and his ability to stretch the field is something this team didn't really have before he arrived on the scene as an undrafted free agent in 2010. Plus, Cruz is a local kid, a Paterson NJ product, and an fresh ambassador to the game (he's already appeared a few times on Campbell Soup commercials). If he stays in New York, he could become an even bigger star.

 The Giants know this. Cruz knows this. Now they have to come together and get a deal done.