Ian Rapoport of NFL Network reported the one-year agreement between the two sides, with Adam Schefter of ESPN confirming the deal, noting it's worth up $10 million with a chance to push it to $10.5 million. Schefter also added that the Arizona Cardinals made a "late push" for Pierre-Paul.
Pierre-Paul took to Instagram with his thoughts on the deal:
I would like to thank each and every organization that reached out to my agent during this process especially the Arizona Cardinals . It was hard to decide, but me and my family decided that it's best for me to stay in New York, just being in the NFL is a privilege and I am honored. I am truly blessed to be in this position I am in today, thank you! Now with that said I have some unfinished business to take care of in New York!!! Giants FANS! Let's get to work for the 2016 season because your boy is back and I am not going anywhere!
Pierre-Paul's infamous fireworks accident last offseason required him to have his right index finger amputated. The 27-year-old did appear in eight games for the Giants in 2015 but wasn't his usual, dominant self in terms of sack production, registering just one in that span.
Pro Football Focus noted how Pierre-Paul had an impact in others areas, which had to contribute to the decision to keep him in the fold:
Defense was indeed part of New York's downfall this past season en route to a 6-10 record. While the offense produced with the best in the NFL, the return of coordinator Steve Spagnuolo didn't make the desired improvements, as the G-Men ranked 30th in points allowed and dead last in total yards yielded.
It's worth the risk on Pierre-Paul in the event he does rediscover the level of play that allowed him to rack up 16.5 sacks in his second season in 2011 and 12.5 sacks in 2014. If he can adjust and find a way to produce with his bad hand, the investment will be well worthwhile.
The Giants will have the 10th overall pick in the 2016 NFL draft. General manager Jerry Reese has already made a bold transaction with an eye toward the future in re-signing Pierre-Paul and figures to prioritize upgrading talent on the defensive side of the ball through the impending rookie class.
Robert Ayers and Cullen Jenkins are also free agents this offseason, so Reese has his work cut out to bolster New York's depth at defensive end even with Pierre-Paul staying put.