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Report: Giants Cut Ties With Injured Safety Chad Jones

Safety Chad Jones failed a physical and was placed on waivers by the New York Giants today, according to

Jones, a third-round pick in the 2010 draft, has been injured the last two seasons. He suffered a serious injury two months after he was drafted -- on June 25, 2010, he was in a horrific car accident and nearly lost a leg. He's been working for the last two years on a recovery.

"We consider Chad to be part of the Giants family, and we'll continue to work with him in his rehab," general manager Jerry Reese said. "As we've said since his accident, we're thankful he is alive and able to lead a normal life."