UPDATE: 5:30pm Mundy has officially signed with the Giants
From Rotoworld: Mundy replaces Kenny Phillips, who signed with the Eagles on Thursday, as the Giants' third safety behind Antrel Rolle and Stevie Brown.
The Giants and free agent defensive back Ryan Mundy are close to a deal, according to Mike Garafolo of USA Today.
Mundy was drafted in the sixth round of the '08 draft by the Pittsburgh Steelers.
In his 64-game career, all with the Steelers, Mundy has notched 130 tackles, one interception and one fumble recovery.
Not sure where Mundy will fit with the Giants unless he's a very good special teams player. We provided you with a clip in a below post of Mundy getting blown right out of his socks by Oakland's Darren McFadden on a run right up the gut. Not pretty.
This is another case of the Giants taking an underdeveloped player, giving him a minimum deal and hoping the coaching staff can flip the switch on his potential. With Antrel Rolle, Will Hill, Stevie Brown, Tyler Sash and possibly Terrell Thomas already ahead of him, he may be a camp casualty unless he turns a corner.