But the devil was in the details and contract negotiations were called off, the two sides unable to work out their differences.
The New York Daily News reported that GM Ernie Accorsi had "a verbal agreement" with Peter, which surprisingly fell apart in a dispute over an injury waiver the team wanted the defensive tackle to sign.
The Giants were so sure he was going to sign it, they were preparing to cut two players to create the cap room for his deal.
According to Giants.com, head coach Jim Fassel was quoted as saying "I was disappointed, I can't fault him. If he doesn't like some of the things we had to talk about in the contract, I can't fault him for that. That's a personal thing."
Fassel also added "I've always liked Christian. He's a tough guy. He loves to play football."
While the Giants have no new DT prospects in sight, the DL depth chart remains thin.