NO BIG DEAL FOR JPP

The Giants’ lack of reliable and healthy backfield blockers last season led Jerry Reese to sign hybrid tight end/fullback Rhett Ellison when free agency opened at 4 p.m. Thursday, the Daily News has confirmed.

The Giants inked Ellison to a four-year, $18 million deal with $8 million guaranteed, per ESPN and NFL Network reports, carrying an annual cap hit of $4.5 million.

Ellison, 28, made a grand total of 51 catches for 515 yards and three touchdowns in five seasons with the Minnesota Vikings, who drafted him 128th overall in the fourth round in 2012 out of USC. But his primary value is as a blocker.

“GREAT pick up @Giants,” Giants linebacker and fellow former Trojan Devon Kennard tweeted Thursday. “Rhett is one of the best blockers at TE I’ve ever gone against college or pros! We (a)bout to have some battles in camp!”

This does not resolve the Giants’ need for a more formidable receiving option at the tight end position, which they may address in April’s draft.

Big Blue interestingly already have a hybrid fullback/ tight end on the books for 2017 in Will Johnson, but Johnson spent the 2016 season on injured reserve, and Ellison’s signing could make Johnson — due to count $1.275 million in 2017 — a cap casualty.

Ellison (6-foot-5, 250 pounds) underwent surgery

The Giants will not lock up Jason Pierre-Paul to a longterm deal before free agency begins, according to a source. As of early Thursday afternoon, the Giants and Pierre-Paul were not negotiating.

Though the Giants have until July 15 to work out a multi-year agreement with Pierre-Paul, one thought had been that the Giants might have been motivated to work out a long-term contract with Pierre-Paul now to reduce his 2017 cap number before free agency begins. Instead, when the free agency window officially opened at 4 p.m., PierrePaul was on the books for the full $16.934 million. That puts a significant constraint on the Giants, especially after already having signed WR Brandon Marshall, as they look for reinforcements at several positions.

The Giants entered free agency with $11.788 million in cap space, per NFLPA records, though that does not include Brandon Marshall's deal with the team that reportedly will count for $4.5 million against the cap.