From ESPN Chicago:
Urlacher told the Chicago Tribune that he originally sought a two-year deal worth $11.5 million with hopes that it would lead to negotiations. But the Bears' only offer to the star linebacker was a one-year contract worth $2 million, sources told ESPN NFL Insider Adam Schefter.https://twitter.com/vxmcclure23/statuses/314514041454329856
"It wasn't even an offer; it was an ultimatum," Urlacher told the Tribune. "I feel like I'm a decent player still. It was insulting, somewhat of a slap in the face."
Even at $2 million for one year, the Giants would probably pass on the eight-time Pro Bowler. They just signed Dan Connor to a third of that ($715k) and he's seven years younger than Urlacher.
The most likely scenario for Urlacher, unfortunately, will be a deal similar to the one he walked away from in Chicago. Minnesota is said to be interested. This year's free agent market for decorated veterans is proving to be a harsh one.