The Giants always wanted right tackle David Diehl back for another season, but only at their price.

The 32-year-old Diehl finally agreed to their price and accepted a massive pay cut that will keep him with the Giants for one more season, two NFL sources told the Daily News. Diehl agreed to slash his salary by $3.475 million – from the $4.475 million his contract called for to the $1 million he will now make in salary in 2013.

As part of the “restructuring” the Giants also guaranteed $200,000 of his $1 million salary, essentially turning it into a bonus. The pay cut also lowers Diehl’s salary cap number from $6,903,125 to $3,428,125 – clearing a much-needed $3.475 million in room for the Giants under the NFL’s $123 million salary cap.

It appears accepting a sizeable cut was only way for Diehl to keep from getting cut himself, the way the Giants recently purged running back Ahmad Bradshaw, defensive tackle Chris Canty and linebacker Michael Boley in salary cap-related moves. The Giants had been discussing a cut with Diehl for weeks. Even Giants co-owner John Mara hinted at that on the eve of free agency when he said “hopefully” Diehl would return for another season.