The New York Giants and free agent quarterback Russell Wilson reached agreement Tuesday on a one-year deal worth up to $21 million, including $10.5 million guaranteed, sources told ESPN's Adam Schefter.

The 10-time Pro-Bowl selection had been in discussions with the Giants, Cleveland Browns and Pittsburgh Steelers, but is opting for New York, where he won Super Bowl XLVIII in MetLife Stadium as a member of the Seattle Seahawks.

Now, Wilson is returning there as the Giants' projected starting QB.

The agreement between Wilson and the Giants now eliminates New York as a potential option this season for Aaron Rodgers, sources told Schefter.

It also now leaves Rodgers and the Pittsburgh Steelers -- Wilson's former team -- in a position to work out their own agreement, if the quarterback decides he wants to play this season.

Wilson joins a Giants team with just two other QBs on the roster: Jameis Winston and Tommy DeVito. The veteran Winston agreed to a two-year, $8 million contract with the team last week. DeVito is a holdover who appeared in 12 games for the team the past two seasons.

New York also currently holds the No. 3 pick in next month's NFL draft.

Wilson, 36, signed a one-year contract with the Steelers on the eve of free agency last offseason. Though he was hampered by a lingering calf injury throughout training camp and the first six weeks of the season, he ultimately replaced Justin Fields as Pittsburgh's starter in Week 7 and went 6-1 in his first seven starts.

But after that early success, Wilson and the Steelers ended the 2024 season on a five-game losing streak. He threw just six touchdown passes, turned over the ball four times and was sacked 18 times during that stretch. Wilson finished the season with a 6-5 record as the starter with 16 touchdown passes to five interceptions. He completed 63.7% of his passes and was sacked 33 times.

Before last season in Pittsburgh, Wilson spent two seasons with the Denver Broncos, who signed him to a five-year, $242.6 million deal after acquiring him in a massive trade with the Seahawks. But the Broncos went just 11-19 during Wilson's tenure and didn't make the playoffs, and he was released by the team last March despite his contract carrying more than $85 million in dead money after his exit.

Wilson landed in Denver in 2022, when the Broncos sent five draft picks, including two first-rounders, and three players to the Seahawks in exchange for the Super Bowl-winning quarterback.

Wilson spent his first 10 years with the Seahawks and threw two touchdown passes in Seattle's Super Bowl XLVIII win. He is a 10-time Pro Bowler and has 46,135 passing yards, a 64.7% completion percentage (3,882 for 6,001) and 350 touchdown passes to 111 interceptions over a 13-year career.

ESPN's Brooke Pryor contributed to this report.