Brandon Jacobs has reportedly agreed to a "small restructure" of his $4.65 million contract. He can earn back the full $4.65 million by hitting incentives. Good news all around for the Giants. Jacobs will return after a renaissance season of 5.6 yards per carry. It also paves the way for the Giants to re-sign Ahmad Bradshaw as his backfield partner.

The Giants have been working to restructure Brandon Jacobs' contract since Tuesday, a source tells the Daily News. Jacobs is owed $9.5 million over the final two years of his deal. He's apparently willing to take a paycut as long as it's not a severe one. With free agent Ahmad Bradshaw looking likely to re-sign, the thunder and lightning backfield appears intact.

Both the Newark Star-Ledger and New York Daily News still think the Giants may ask Brandon Jacobs to take a pay cut in an effort to free up money to re-sign free agent Ahmad Bradshaw. Jacobs has waffled on the idea of reducing his $4.65 million 2011 salary, and has a fair amount of leverage after averaging 5.6 yards per carry on 147 carries in 2010. Unless the Giants are outright willing to cut Jacobs (which is extremely unlikely), they will probably have to look elsewhere to free up the money to keep Bradshaw.