Andrew Mills | NJ Advance Media

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By Matt Lombardo | NJ Advance Media for NJ.com

EAST RUTHERFORD -- Giants co-owner John Mara spoke glowingly of Odell Beckham Jr. prior to Thursday's training camp practice at the Quest Diagnostics Training Center, and revealed that the team plans on beginning contract negotiations with the dynamic wide receiver "soon."

Beckham is entering the final year of his rookie contract, and despite the fact that he does not have a new contract in hand, reported on time to training camp and even returned to full-team drills during Thursday's practice for the first time since shattering his ankle in Week 5 last season.

To get a feel for exactly what kind of contract Beckham could expect, NJ Advance Media spoke to former NFL agent and current CBS Sports salary cap analyst Joel Corry, who opened up about how he would go about negotiating Beckham's next contract.

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"There wouldn't be a deal to be made if it didn't make Beckham the highest-paid wide receiver by average, and with the most guarantees," Corry told NJ Advance Media on Thursday. "I'd also make sure he got more money fully guaranteed at signing than any other wide receiver in the NFL."

Beckham's looming contract negotiations with the Giants come against the backdrop of the Tampa Bay Buccaneers paying Mike Evans a league-high $82.5 million over five years earlier this offseason on a deal that includes $55 million in guarantees and $38.5 guaranteed at the time of signing, according to Over The Cap.

Evans' deal pays him the most money overall, but falls half a million dollars short of the league-high $18 million per season average that the Pittsburgh Steelers paid Antonio Brown earlier this offseason.

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Here is a breakdown of the top-5 highest paying WR contracts in the NFL:

Total Value:

1) Mike Evans, Tampa Bay Buccaneers: $82.5 million

2) DeAndre Hopkins, Houston Texans: $81 million

3) Brandin Cooks, Los Angeles Rams: $81 million

4) Jarvis Landry, Cleveland Browns: $75.5 million

5) Julio Jones: $73.25 million (after collecting a re-structured $2 million bonus for 2018)

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Is Giants' John Mara about to break the bank for new Beckham deal?

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Most Guaranteed Money:

1) Mike Evans, Tampa Bay Buccaneers: $38.26 million

2) DeAndre Hopkins, Houston Texans: $36.5 million

3) Julio Jones, Atlanta Falcons: $35.5 million

4) DeMaryious Thomas, Denver Broncos: $35 million

5) Jarvis Landry, Cleveland Browns: $34 million

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Average guarantee per year:

1) Sammy Watkins, Kansas City Chiefs: $10 million

2) Donte Moncrief, Jacksonville Jaguars: $9.6 million

3) Mike Evans, Tampa Bay Buccaneers: $7.65 million

4) DeAndre Hopkins, Houston Texans: $7.3 million

5) Julio Jones, Atlanta Falcons: $7.1 million

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TOTAL AVERAGE SALARY:

1) Antonio Brown, Pittsburgh Steelers: $17 million

2) Mike Evans, Tampa Bay Buccaneers: $16.5 million

3) Brandin Cooks, Los Angeles Rams: $16.2 million

4) DeAndre Hopkins, Houston Texans: $16.2 million

5) Sammy Watkins, Kansas City Chiefs: $16 million

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By comparison, the contract that Beckham signed after being chosen with the No. 12 overall pick in the 2014 NFL Draft pays him just $8.46 million this season and to date has collected just $10,406,198 which ranks 19th out of the 201 players at the position across the NFL.

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Matt Lombardo | NJ Advance Media for NJ.com

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After signing No. 2 overall pick, running back Saquon Barkley to his rookie contract earlier this week, the Giants have a league-low $2.134 million in remaining cap space ahead of the negotiations with Beckham.

However, as Over The Cap's Jason Fitzgerald points out, the Giants' current cap space is likely a hurdle but not a roadblock to a deal getting done.

"It's likely going to take a large signing bonus to bring his current year salary down," Fitzgerald told NJ Advance Media, via email. "I think the top bonus mark is $21 million for Watkins and given that Beckham should look for at least $15M in new contract money this year that would bring his salary to about $23.5M. A $22.5 million signing bonus and $1M salary would bring his cap number down to $5.9 million creating in the ballpark of $3 million of cap room. Of course that means cap charges in later years will be higher. "

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However, unlike the quarterback position and the contracts that are determined by the rookie wage scale, Fitzgerald isn't convinced that Beckham's contract will be as cut-and-dry as following the recent trend of mega-deals that have been given to wide receivers in recent months.

"I think when you consider that Beckham is a franchise quality player and that the market has shifted up he should not sign for anything less than $20 million a season and should be starting off asking for higher than that," Fitzgerald said. "There is of course, the problem that it seems that the NFL is very hesitant to be the first to make a non-QB a $20 million a year player, but its going to happen soon and Beckham should not short change himself.

"Given that other players are asking for it and we just saw a Todd Gurley extension showing how special talent should get special consideration from the organization Beckham will have more points to argue about why he is worth over $20 million. If I had to guess the final number will be around $20.5 million a season.

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As for what it will likely take to get a deal done, Corry says that he has a specific value in his head that would be the baseline for any contract talks with the Giants this summer.

"It would take north of $18 million to get my attention," Corry said.

There is a certain amount of risk that Beckham is taking by even participating in practices this offseason given both his injury history and the fact that he is entering the final year of his deal without the security blanket of a next contract to fall back on.

However, Corry believes that the risk is worth the potential reward from a Giants organization that has taken notice of Beckham's good behavior this offseason.

"Beckham's case seems to be one where you get catch more flies with honey than you do with vinegar," Corry said. "If he had taken the same approach as Aaron Donald and Khalil Mack, it could have been counterproductive for Beckham."

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Beckham's strategy of attending workouts and forging a bond with new head coach Pat Shurmur appears to be about to pay dividends, given the optimistic tone struck by Mara on Thursday mere months after floating the idea that the Giants would explore trading Beckham earlier this offseason at the NFL's annual meeting.

"I think this was the timing that we always had in mind [to start negotiations]," Mara said. "I think Odell personally is moving in the right direction. I think he's come in here with a good attitude. He showed up yesterday with a smile on his face, and worked hard. I think he's ready to go. I think he's ready to have a great season. We're ready for Odell to have a great season.

"We obviously want him to be a Giant for a long time. We hope to come to some sort of accord.”

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TALK IS CHEAP PODCAST:

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HOW TO REACH ME:

Matt Lombardo may be reached at MLombardo@njadvancemedia.com. Follow him on Twitter @MattLombardoNFL

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Matt Lombardo | NJ Advance Media for NJ.com

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