McPhee, 26, had 7.5 sacks as a part-time player last season.
Free agent outside linebacker
Last season he racked up 7.5 sacks and a forced fumble to go with 27 tackles despite playing only half of the defensive snaps.
Teams cannot actually sign free agents until 4 p.m. ET on Tuesday.
The Giants franchised defensive end Jasson Pierre-Paul but appear ready to add more talent to the defensive line once free agency opens Tuesday. The team has also been connected to
The Giants have also expressed interest in safety Devin McCourty but expect him to be tough to sign.
McPhee is set to hit the open market on Tuesday if the Ravens don't lock him up with a new contract. His camp is looking for a contract that pays him in the area of $8 million to $10 million per season, per CBSSports.com NFL Insider Jason La Canfora.
According to CBSSports.com NFL Insider Jason La Canfora, the
At Tuesday's state of the Ravens press conference, general manager Ozzie Newsome hinted that it would be near impossible to match what other teams are willing to pay McPhee.
"We can't pay everybody market value," Newsome said.
McPhee totaled 7.5 sacks in 2014.
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