Giants defensive end Osi Umenyiora signed a new contract in December 2005.  Last year, he changed agents, hiring Tony Agnone, who also represents Michael Strahan.

It was believed by many that Umenyiora made the change (as most players do) because he wanted a new deal.  And with the same agent representing the two key players on the team’s defensive line, it was expected that Umenyiora and Strahan would both make a play for more money.

Though Strahan stayed away from training camp as he supposedly pondered retirement, the thinking in many circles was that this was Strahan’s misguided way of getting a raise.  At the time, Umenyiora didn’t force the issue regarding his own contract.

A season later, and with a gleaming Super Bowl trophy due in large part to the efforts of Strahan and Umenyiora, Ralph Vacchiano of the New York Daily News reports that Umenyiora might hold out of training camp.

Says Vacchiano:  “A lot of people who know him are absolutely convinced he’s going to holdout from training camp this summer if he doesn’t get a new contract.  In fact, someone who talked to him recently told me ‘I guarantee you he’s not coming to camp.’”  Umenyiora, per Vacchiano, hasn’t denied the possibility of holding out.

But Umenyiora has five years left on his most recent deal.  Five years.  He has no leverage on this one, unless he plans to owe the team bonus money and/or fines and, ultimately, give up game checks.

All the while, the Giants will continue to hold his rights for five more years.

Surely, the Giants won’t cave on this one.  If they do, what’s the point in signing players to long-term deals?