Williams inked a seven-year deal with a club option after the fourth season. Williams, who will move to strong safety, will earn $24.5 million and receive a two-tiered signing bonus worth approximately $6.5 million.
"I'm very excited to be back here," Williams said. "I didn't want to go anywhere else, so everything worked out great. It's a good feeling when you get drafted by a team and your contract is up and they show they're really interested in you as a player and they want to re-sign you. There's a mutual respect there. It makes you want to go out as a person and as a player and work harder for the organization.
"There's no doubt in my mind this is where I wanted to be. When I first came here as a rookie I was homesick, and I really missed my family. But now this feels like home. Now I'm accustomed to being here and I'm comfortable."
Head Coach Jim Fassel is happy to have Williams back in the fold. "I'm obviously very excited about having Shaun re-sign with us," Fassel said. "Shaun is one of our outstanding young players. His development the last couple of years, not only his playing ability but his leadership qualities, has been impressive. He's the type of guy we need to keep if we're going to make progress."
In order to re-sign their 1998 first-round pick, the Giants had to release LB Jack Golden and DL Jamie Carter.
In addition to hosting Chiefs free agent OT Victor Riley Thursday, Big Blue also entertained Seattle DL Antonio Cochran. Cochran is a restricted free agent that would cost the Giants a fourth-round pick if they were to sign him. He had a sack and forced fumble against New York late last season.