The Giants also waived receiver Todd Lowber, long snapper Nick Leeson, defensive tackle Brian Soi and offensive lineman Jacobs Hobbs -- all first-year players.
Lorenzen's status had been a question mark since the Giants signed veteran David Carr as a free agent and drafted Andre' Woodson, who, like Lorenzen, played at Kentucky. With Eli Manning and Anthony Wright also on the roster, the moves left the Giants with five quarterbacks. With the current 80-man training camp roster limit, there was no way the team was going to bring five quarterbacks to camp at the University at Albany.
Signed as a free agent in 2004, Lorenzen left the team after minicamp and did not return for personal reasons. The big left-hander rejoined the club in 2005 and spent the past three seasons as a seldom-used backup to Manning.
Lorenzen, who battled weight problems, played in four regular season games and one postseason game with the Giants. All eight of his regular-season passes came last season, with four completions for 28 yards. He also used his bulk to rush twice for first downs in short-yardage situations in 2006.
Lorenzen was the backup quarterback for two games this past season and third quarterback behind Manning and Wright the rest of the year.
Woodson is a little more athletic. He threw for 3,709 yards and 40 touchdowns for the Wildcats last season, hitting 63 percent of his passes.
"This was too good to pass up," coach Tom Coughlin said after the Giants used a sixth-round pick to take him. "He was highly rated on our board."
The moves leave the Giants with 81 players on their roster, including six unsigned draft choices.
Lowber had two stints on the Giants' practice squad last season. The former Ramapo College basketball player was originally signed by Minnesota as a free agent.
Leeson played in two preseason games for the Baltimore Ravens last year.
Soi played in four preseason games for the Miami Dolphins in 2007.
Hobbs played in four preseason games for the Philadelphia Eagles last year. He was also the first University at Albany player signed by the Giants.
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