8:37 AM PT -- The offer Tepper gave Rhule really was one he couldn't refuse. Rhule will be getting a 7-year, $60 MILLION deal that could be worth as much as $70 MIL with incentives, ESPN's Adam Schefter reports.
Call this the Giants' 13th loss this season ... the Carolina Panthers just hired Big Blue's reported top candidate, Matt Rhule, to be their next head coach.
Rhule -- Baylor's head man since 2016 -- had been rumored to be the Giants' top choice since they canned Pat Shurmur last week.
It made sense ... the 44-year-old was born in NYC, and was previously an assistant O-line coach for the Giants in 2012 and was seen as a guy who could make an offense with Daniel Jones and Saquon Barkley hum.
In fact, the G-men and all of their top brass were reportedly set to have a massive meeting with the guy Tuesday.
But, according to NFL Network Insider Ian Rapoport, Panthers owner David Tepper spent the entire day with Rhule in Waco, Texas on Monday and clearly made him an offer he couldn't refuse.
It's a bummer for the Giants, whose candidate list is slowly shrinking after Ron Rivera (Redskins), Mike McCarthy (Cowboys) and Rhule all went elsewhere.
NY is still in the mix for NFL assistant coaches like Chiefs' Eric Bieniemy, Patriots' Josh McDaniels and Ravens' Don Martindale. The team could also take a look at fired Cowboys coach Jason Garrett.
As for the Panthers ... it seems they're more than happy with their new hire -- Rhule famously turned Baylor from a 1-11 team in 2017 to 11-3 in 2019.
Originally published -- 7:18 AM PT