WR Victor Cruz
Victor Cruz would technically be a restricted free agent next offseason, so they could slap a 1st round tender on him and continue to negotiate with him or force him to play out the 2013 season on the tender. However, the Giants may want to avoid a Mike Wallace situation, especially if Cruz continues to produce like he did in 2011 (82 catches for 1536 yards and 9 touchdowns). He’s definitely worth the wide receiver franchise tag value (9.4 million in 2012), barring a regression, and the Giants could choose to franchise him, rather that slap a 1st round tender on him, as an act of good faith.
Likelihood: Somewhat likely
S Kenny Phillips
Of course, the Giants do have other options. After a nasty injury early in his career, Phillips has emerged as one of the better safeties in the league. The safety franchise tag value is pretty inexpensive (6.2 million in 2012), and for that reason, 4 players at the position have been slapped with it in the last 2 seasons, Tyvon Branch,...