The Giants waived Ballard on Monday after he failed a physical. He will go on waivers for any team to claim. If he passes through waivers, which seems likely, the Giants could place him on injured reserve. Because of Ballard's youth and productive history, we'd guess that Ballard will wind up back on the Giants roster and on IR.
The team also announced that it re-signed defensive tackle Rocky Bernard to take Ballard's place on the roster. Bernard played in every game for the Giants last year as a rotational reserve player. He will be available to participate in the team's minicamp this week.