Free agent DT Johnathan Hankins has agreed to a four-year deal with the Colts worth $30 million, reports Adam Schefter of ESPN.
Hankins, who visited with the Colts on Tuesday, will get $14.5 million guaranteed.
The Giants' offer to Hankins was for $28 million over four years, according to Paul Schwartz of the NY Post.
The 25-year-old Hankins had reportedly been waiting for a contract similar to the $46.25 million the Giants gave Damon Harrison last year.
Giants co-owners John Mara and Steve Tisch both expressed optimism during the recent NFL owners metings that something would get worked out with Hankins, while confrming that a competitive offer for Hankins had been on the table.
Jason Pierre-Paul tweeted Sunday, hoping for Hankins' return.
"Hope my boy Hank back before OTA's because we need that front line to stay together. #90PC," Pierre-Paul tweeted Sunday night along with a picture of him and Hankins.
Hankins had 43 tackles, three sacks, and one forced fumble in 16 games for the Giants last season.
He played in 52 games for the Giants during his four-years with the team, amassing 10 sacks, three forced fumbles, and 140 tackles.