Victor Cruz will be a restricted free agent this offseason and the New York Giants will likely use a first-round RFA one-year tender of $2.879 million on him in March if they cannot come to terms on a long-term extension.

“We certainly want him back, but like with any player, there's a limit to where we’re going to go," the Giants' co-owner told reporters Friday, according to the Newark Star-Ledger. "He's been a terrific player for us, he’s a fan favorite, he does a lot for our franchise, but there is a limit." 

The Giants are projected to be $4.7 million over the cap for 2013.

Cruz hopes he can reach a deal with the Giants.

“Hopefully we get something together and create a long-term deal that keeps me in New York for a while,” he said. “That's all I'm focused on. That's all I want. I feel like I've done enough to prove to the front office that I'm worthy of being in a blue uniform for a very long time. Hopefully they see it the same way."