It just didn't make sense that JPP would just show up and play. He suffered a traumatic injury that will have long-lasting effects on his health and severely inhibit his ability to play at a high level in the NFL.
No one has confirmed anything, but JPP left New Jersey without putting his signature on the tender, meaning he's officially a hold out come Sunday night. The Giants cannot do much other than wait for him to sign. If he doesn't sign, he has no claim to any of his salary.
What it looks like is that the Giants wanted to get him in so they could place him on the Non-Football injury list, which keeps him out six games. They have the option to not pay him, or pay him less but according to sources, he did not agree to the terms.
Another development that has surfaced is the Giants have lost the leverage of placing JPP on the NFI list. He cannot be placed on NFI if they have any designs on him playing this season. That's a one-way ticket because once the 53-man roster is established, a player placed on NFI cannot return to to the active roster.