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The New York Giants and linebacker Jon Beason have reportedly restructured his contract in an effort to keep him with the organization while also providing some salary-cap relief.

Continue for updates.

Beason Reportedly Agrees to Restructure Contract

Monday, March 9

Beason has agreed to renegotiate his contract with the Giants, according to Jordan Raanan of NJ.com. The report also provides the financial details of the new agreement: "Beason's new deal cut his base salary in 2015 from $5.825 million to $3.7 million. The Giants made some of that money available through incentives based on health and playing time."

Ralph Vacchiano of the New York Daily News reported on what Beason's hit against the salary cap was going to be if he hadn't restructured his contract:

Sides Exchange Offers

Wednesday, March 4

Patricia Traina of Bleacher Report notes Beason confirmed the team had asked him about reworking his deal and stated talks are ongoing:

Jordan Raanan of NJ.com points out the linebacker is scheduled to receive a $1 million roster bonus March 15 and is set to have a cap number of $7.37 million for 2015.

That would seemingly give the sides a little less than two weeks to find common ground for a new contract. Teams around the league are working hard to create as much flexibility as possible heading into free agency and the draft.

Beason has always been an effective run-stopping inside linebacker. He registered at least 120 tackles in each of his first four seasons in the league with the Carolina Panthers. Injuries have held him back over the past four years, though.

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The 30-year-old defender has played in more than four games just once since 2011. In 2013, he split 15 games between the Panthers and the Giants, making 104 tackles. In the other three years combined, he played just nine total games.

Beason played just four games last season due to a foot injury. So, while the Giants would like to keep him, it would only make sense with a more team-friendly cap number because of the durability concerns.

The question is whether the sides will be able to reach an agreement that satisfies everybody before the new league year begins.