The pay cut Brandon Jacobs needed to take to stick with the New York Giants did not happen.
The running back will be released today, according to Mike Garafolo of the Newark Star-Ledger.
Jacobs was due a $500,000 roster bonus this month and a base salary of $4.4 million this season. With the Giants in a somewhat tight salary-cap position – and with Jacobs splitting time the past few seasons – it was far too much to pay him.
Per Garafolo, one final attempt to reach a much lower salary figure was made today. It didn’t happen and now Jacobs will become a free agent after seven seasons with the Giants. His 56 rushing touchdowns are the most in franchise history.
Jacobs could probably help some teams but he’s not going to be an every-down back and he probably will not come anywhere close to $4.9 million for the 2012 season.
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Brad Biggs covers the Bears for the Chicago Tribune