After failing to come to an agreement to restructure Brandon Jacobs' contract, Mike Garafolo of the Star-Ledger reportsthe New York Giants will release the running back on Friday.
A source who requested anonymity because the team had not yet made the move public told Garafolo that the Giants wanted Jacobs to significantly reduce his $4.9 million salary for the 2012 season. But Jacobs was not amenable to taking as large a pay cut as New York wanted.
Jacobs previously said that he would like to return to the Giants, but that his fate was ultimately in New York's hands. One of the biggest running backs in NFL history, Jacobs rushed for 4,849 yards and 56 touchdowns during seven seasons with the Giants.