The New York Giants are set to release wide receiver Victor Cruz Monday afternoon in a cost-cutting move to clear cap space.

ESPN’s Adam Schefter confirmed this report a few minutes after Art Stapleton broke the news. The move will save the Giants $7.5 million in 2017.

Cruz was once among the most dangerous receivers in the NFL. Originally undrafted out of UMass, Cruz burst onto the scene in 2011, his second NFL season, with 82 catches for 1,536 yards and nine touchdowns. He continued his success for two more seasons, tallying 14 touchdowns in 2012-13 before his career was derailed by a devastating knee injury in 2014.

Cruz attempted to get back into action during the 2015 season but ended up missing the entire year after a calf injury required surgery.

Finally, after a year-and-a-half of grueling rehab, he made it back onto the field for New York in 2016, catching 39 passes for 586 yards as the third option in the Giants offense.

While he’s not quite as explosive as he was before the injuries, Cruz is still an effective receiver who will either re-sign with the Giants for less money or find a spot on another squad heading into 2017.