The New York Giants have used their franchise tag on Jason Pierre-Paul.

The sides have until July 15 at 4 p.m. ET to agree to a long-term contract.

Pierre-Paul has stated before he does not want to play on a one-year deal.

"I'm not playing on no one-year deal," Pierre-Paul said after he missed the Giants' season-ending loss to the Green Bay Packers in the playoffs. "I've proved it. I've showed it. There is not really another guy like me out here doing it with 7½ fingers still."

Pierre-Paul played this past season on a one-year prove-it deal worth just under $10 million.

The New York Giants have begun to think about life after Eli Manning, who they expect to have at quarterback for another 2-3 years.

The Giants have begun to see a decline in Manning, Bob Glauber of Newsday told Pro Football Talk.

Manning is signed through 2019, at salaries of $13 million, $10.5 million, and $11.5 million in each of the next three seasons.

Adrian Peterson continues to hint that he'd like to play for the New York Giants.

Just a few weeks after telling ESPN that the Giants are a team he's "thought about" playing for next season, Peterson tweeted late Wednesday that the club has "been making some interesting moves."

The Giants released Rashad Jennings earlier this week, leaving Paul Perkins as New York's lead running back.

Peterson will make $11.75 million in the final year of his three-year deal if he remains with the Minnesota Vikings.

The New York Giants have freed up cap space and will attempt to re-sign Jason Pierre-Paul before the defender hits the free agent market.

Rashad Jennings and Victor Cruz were released on Monday.

"I do expect them to make a legitimate run in the coming days and weeks," NFL Network's Mike Garafolo said. "They will try and get a deal done before he can potentially hit the free agent market."

Pierre-Paul said last month that he will not accept another one-year contract.

As the New York Giants look to shed salary, they will cut Rashad Jennings, according to a report.

It was reported earlier Monday that Victor Cruz would be cut as well.

Jennings, who turns 32 in March, started 28 games for the Giants over the last two seasons.

The running back was due to make about $2.5 million in 2017, the final year of a four-year contract he signed in 2014.

The New York Giants have released Victor Cruz and Rashad Jennings.

Cruz is less than three years removed from major knee surgery and would have counted for $9.4 million against the Giants' salary cap in 2017. New York will free up $7.5 million in cap space with his release.

Jennings would have counted $3,062,500 against the cap in 2017. Releasing him frees up $2.5 million in cap space for the Giants.

Cruz took a significant pay cut to return to the Giants last season. He still made $5.4 million and wanted to return to the team that signed him as an undrafted free agent out of UMass in 2010.

After watching their defense bounce back this past season, the New York Giants have re-signed Steve Spagnuolo, according to a source.

Spagnuolo returned to the Giants in 2015 after a stint with the Baltimore Ravens and the club's defense struggled mightily.

The veteran defensive coordinator led the league's 10th-ranked defense this season after finishing last in yards allowed in 2015.