The Giants waived Clay (ankle) on Tuesday with an injury designation, Paul Schwartz of the New York Post reports.
Clay never looked to be long for the New York roster after the team picked up another depth wideout in Stacy Coley last week on a waiver claim. The Utah product ultimately sat out the Week 3 win over the Texans with the ankle issue, so he'll remain in the organization and revert to the Giants' injured reserve list if he goes unclaimed off waivers by the other 31 teams.