New York Giant fans rejoice

Giant fans you can now officially end your anxiety attacks over Victor Cruz’s contract situation. Today the salsa-dancing WR agreed to re-sign with Big Blue. Cruz has signed a 5-year extension to go along with his 1-year tender. Over the next six years Cruz will earn roughly $45.8 million.

Financially there is a lot going on in Cruz’s contract besides just his salary/guaranteed money. Look below to see NBC’s Mike Florio break Cruz’s contract down.

When Giants receiver Victor Cruz signs his new contract, which will happen later today or on Tuesday, he’ll immediately earn just under $10 million… Nearly all of the guaranteed money, reported by Jay Glazer of FOX to be $15.6 million, will become fully guaranteed within roughly the next three weeks, per a source with knowledge of the terms of the deal.
The new money is $43 million over five years, for an average of $8.6 million annually. Factoring in the one-year, $2.879 million restricted free agency tender, Cruz will make $45.879 million over six years, with an average of $7.64 million over the six years.

The money is paid over the first two years via the signing bonus, a $630,000 base salary in 2013, a $1.5 million roster bonus due in 2014, and a $4 million base salary in 2014. All of those payments are guaranteed.The base salaries beyond Year Two are $6.15 million in 2015, $7.9 million in 2016, $7.4 million in 2017, and $8.4 million in 2018.
Though the salaries beyond 2014 aren’t guaranteed, a decision to cut or trade Cruz after two seasons would have a cap consequence in excess of $6 million. That number will reduce with each passing year.

– John McAuliffe (@John_Mac310)