Cruz’s deal breaks down to $15.6 million over two years, four one-year deals

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More details are trickling in regarding the contract to be signed today or on Tuesday by Giants receiver Victor Cruz.

As a practical matter, the deal pays Cruz the fully-guaranteed amount of $15.6 million in 2013 and 2014, according to a source with knowledge of the terms.  Then, come 2015, the contract converts to a series of four one-year deals.

The money is paid over the first two years via a $9.5 million 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.  Still, after two years it essentially becomes a year-to-year arrangement.

Nevertheless, Cruz has received a guaranteed pay day far bigger than anything he surely ever dreamed he’d receive, and for at least the next two years — and likely a lot longer — he’ll be a member of the Giants.