9:54am: The team has now officially confirmed the pair of transactions.
9:50am: The team has yet to make an official announcement, but it appears the corresponding move for the Giants’ addition of Ellis will be to cut wide receiver Preston Parker — Mike Garafolo of FOX Sports reports (via Twitter) that Parker is being let go.
After catching 36 balls for the Giants a year ago, Parker has five receptions through the club’s first two games of 2015, but has racked up just as many dropped passes, many of them costly. The wideout doesn’t have any bonus money on his contract, so his release won’t leave New York with any additional dead money on the cap.
9:43am: After surviving the initial cutdown to 53 players, defensive tackle Kenrick Ellis was a surprise roster casualty for the Giants earlier this month, when the team needed to clear room for a pair of waiver claims. Two and a half weeks later, however, Ellis is returning to the Giants, according to Jordan Raanan of NJ.com, who reports that the team is re-signing the ex-Jet to the 53-man roster.
Ellis, 27, signed a one-year deal with the Giants earlier this year that included $500K in guarantees, so the club has already absorbed that same total in dead money for the upcoming season. His new pact will presumably be non-guaranteed. As a reserve for the Jets during the first four years of his career, Ellis appeared in 47 games, starting five.
As Raanan points out, Giants defensive tackles Cullen Jenkins (hamstring), Jay Bromley (knee) and Markus Kuhn (knee) all showed up on the club’s initial injury report this week, so with a Thursday night game against Washington right around the corner, it makes sense that New York would bring in some veteran depth at the position.