The Giants still have three quarterbacks on the roster in Eli Manning, Ryan Nassib and Curtis Painter. Manning underwent ankle surgery in the offseason but practiced fully during Thursday's OTA just seven weeks after the surgery.
With Manning ready to take offseason reps, there was no need for Freeman as an insurance policy.
Freeman was the Tampa Bay Buccaneers' first-round draft pick in 2009 out of Kansas State. He became a starter in November of that year and started 60 games for Tampa Bay. He was cut by the Buccaneers last season and joined the Minnesota Vikings after a public conflict with then-Bucs coach Greg Schiano.
Freeman is the subject of an NFL and NFLPA investigation into who leaked health-related information on the quarterback, among other damaging things, as the situation deteriorated.
Freeman played one game for the Vikings last season, a Monday night debacle that exposed his lack of familiarity with the Vikings offense.