The New York Giants have told running back Brandon Jacobs that he will be released, a league source told NFL Network insider Jason La Canfora on Friday.
Jacobs asked for and received his release from the team after the sides could not agree to a salary reduction, a source with knowledge of the situation told NFL.com's Steve Wyche.
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Jacobs was willing to play for less than the $4.4 million he was scheduled to earn next season, the source said. There were no real negotiations on a number as the Giants wanted Jacobs at a certain price that he refused to accept, the source said.
He was also scheduled to receive a $500,000 roster bonus this month.
The Giants later confirmed that Jacobs' contract has been terminated.
"Brandon has truly been a great Giant," general manager Jerry Reese said. "These times are always very hard for me. We had a very good conversation today. We don't know what the future holds for Brandon, but we wish only the very best for him and his family."
Jacobs had said in February that he was open to restructuring his contract to stay with the Giants but acknowledged that the team might release him.
Jacobs, 29, won two Super Bowl rings with the Giants, the latest coming this past season after he rushed for 571 yards and seven touchdowns in 15 games. He was the team's regular starter in 2008 and 2009, but he became a backup after Ahmad Bradshaw's emergence.
Jacobs, a fourth-round pick out of Southern Illinois in 2005, is fourth in Giants' history with 4,849 yards rusing and has a franchise-record 56 rushing touchdowns, one more than Tiki Barber.
