The Giants are pretty set at the wide receiver position. Odell Beckham Jr is a stud, Rueben Randle has improved in each of his professional seasons and Victor Cruz is as dynamic as they come if he can return to for after his season ending knee injury sustained last year.
Though Cruz is outstanding when he is healthy there is no guarantee he will return to his previous form. Because of this the Giants may want to look into some seasoned veterans to add some insurance to the receiving corps. There are two players that stand out that remain unsigned; Reggie Wayne and Wes Welker. Wayne is the better option of the two, he is a bigger target and has been a more reliable receiver for a longer period of time. Neither receiver is the player they used to be. Especially Welker who had a significant drop-off in production last season after battling numerous concussions.
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Wayne, in a down year, hauled in 64 catches for 779 yards and 2 touchdowns in his 14th NFL season. His numbers are no longer Pro-Bowl caliber but they are still solid. He was second on the Colts in receptions and yards. Which stands to be impressive since the Colts led the league in passing yards in 2014. If Cruz is not the same player he was the Giants could move Randle or even Beckham into the slot and put Wayne on the outside. Or they can simply slide Preston Parker into the staring lineup.
As for Welker, I would bring him in for a few reasons. The first reason is in the event that Victor Cruz does not return to form. He is an experienced slot receiver who has a quick first step and gets separation very quickly. Welker is not the same guy who caught 100+ balls in 5 out of 6 seasons from 2007-2012. Last year he fell behind 100 reception receivers Demaryius Thomas and Emmanuel Sanders on the Broncos depth chart and had his lowest reception and yardage total since 2005. Even if Cruz comes come back to full strength Welker can come into compete with Preston Parker as the backup slot receiver. Parker may prove more valuable due to his ability to play on special teams. There is a good chance Welker is done and I think I would prefer Parker at this point in time but it wouldn’t kill to kick the tires on a receiver that accumulated nearly 10,000 receiving yards over his 11 year career.