The New York Giants and quarterback Daniel Jones on Tuesday reached a deal on a four year, $160 million contract.
BREAKING: #Giants have a deal in place with Daniel Jones, per source.
— Ryan Dunleavy (@rydunleavy) March 7, 2023
The Giants were in a tight squeeze to make a decision approaching Tuesday’s 4 p.m. franchise tag deadline. If unable to reach a long-term deal by the deadline, the Giants would be forced to place the tag on Jones and pay him $45 million on a one year deal, or have to find a new signal caller. Instead, the deal freed up the tag allowing New York to place it on running back Saquon Barkley.
So Daniel Jones is on the books for four years and $160 million with $82 million guaranteed at signing, per sources. There is another $35M available in incentives.
Saquon Barkley is currently at $10.1M on the franchise tag. #giants #nfl
— Jordan Raanan (@JordanRaanan) March 7, 2023
With the way the deal is structured – the $82 million guaranteed is all allocated to the contract’s first two years – the Giants will have the option to release Jones after the 2024-2025 season with little to no cap penalty.
Jones joins Seattle Seahawks’ Geno Smith, and newly minted New Orleans Saint Derek Carr in earning nine-figure deals this week.