On June 11, the Giants waived Ballard, who tore his anterior cruciate ligament against the Patriots in Super Bowl XLVI. New York reportedly wanted Ballard to clear through waivers so he could be placed on the squad's injured reserve.
That transaction did not go as planned, as New England snagged the 24-year-old off the waiver wire Tuesday afternoon.
Ballard had microfracture surgery this April and failed his physical with the Giants. He likely won't be 100 percent ready to play until the 2013 season, per Paul Schwartz of the New York Post.
However, when healthy, Ballard has produced.
The 6'6", 275-pound tight end caught 38 passes for 604 yards and four touchdowns last season after playing only one game in 2010.
The Ohio State product is in the final year of his contract and is set to earn a base salary of $540,000 this year, cites NBC Sports' Smith. It is unclear what New England plans to do with the injured player, but he will be a restricted free agent in 2013 if the Pats opt to retain him.
New England now has seven tight ends within the organization. Ballard will join a corps which includes Rob Gronkowski, Aaron Hernandez, Daniel Fells, Bo Scaife, Brad Herman and Tyler Urban.