New York Giants co-owner John Mara said Monday the team will place a first-round tender on wide receiver Victor Cruz.

Ralph Vacchiano of the New York Daily News reports that Mara said the Giants made Cruz "a very substantial offer" that "would make him a very wealthy young man"  but his agent wants to test the market.

Mara said "I wouldn't be surprised" if another team signs Cruz to an offer sheet but said he remains hopeful and believes the Giants will eventually work out a long term deal with Cruz.

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