It's a nice re-signing for the Giants. After a year out of the league in 2012, McBride joined the Giants in 2013 and found himself a starting cornerback following injuries to Corey Webster and Aaron Ross, and he played much better than expected. He was likely to draw interest from other teams had he hit the open market at 4 p.m. ET on Tuesday, so if he's a guy the Giants liked, good for them for keeping that from happening. If nothing else, he's an insurance policy in case they get shut out in their pursuit of a top free-agent cornerback or can't find one early in the draft.
But signing McBride should not deter the Giants from those pursuits. They have expressed interest in several of the top cornerbacks on the market, and they would be much better off in the secondary if they could land someone like Alterraun Verner or Captain Munnerlyn or one of the many cornerbacks hitting the market Tuesday afternoon. That would enable them to use McBride as the nickel corner or as a reliable backup to their inside and outside starters. That's the ideal role for a guy like McBride. The Giants used him as a starter in 2013 and know they can do it again in a pinch, but their preference would be to get a premier guy who pushes McBride down the depth chart a bit, strengthening them overall at this important position.
It appears as though veteran Terrell Thomas, who served as the Giants' nickel corner in 2013, will hit the open market. 2012 third-round pick Jayron Hosley is still looked at as a guy who can play the nickel, but injuries have hampered his development.