Mike Garafolo of The Star-Ledger reported, and our Adam Schefter confirms, that the New York Giants have decided to release running back Brandon Jacobs because they have been unable to come to terms on a renegotiated contract with him. Jacobs was entering the final year of his contract and was scheduled to make $4.9 million in 2012. But the Giants have salary-cap concerns and have been working with Jacobs in an effort to get him to agree to cut that salary, perhaps by half or more.
Source Espn