The New York Giants locked out the franchise’s quarterback on Tuesday, signing Daniel Jones to a long-term contract before the franchise’s tag deadline.
Some will see Daniel Jones’ new contract with a turned-up nose, others as a winning win for the New York Giants.
In a deal that went straight to the wire, Jones agreed to a four-year, $160 million deal with the Giants, amounting to $40 million a season. That ties him with Matthew Stafford and Dak Prescott as the seventh-highest-paid player in the NFL and could cause angry Giants fans to take to the streets screaming that Jones isn’t worth all that money.
They may be right. Right now, Jones may not be worth that much, but his extension gives the Giants more salary cap flexibility and the ability to pursue other options. Because of the Jones deal, the Giants could award the franchise to Mark Saquon Barkley. Because of the Jones deal, the Giants can distribute quarterback hits and potentially sign and re-sign major roster pieces to remain competitive next season.
In fact, the most financially responsible thing to do is franchise Jones, evaluate his performance in 2023, and then give him his portfolio.
Daniel Jones contract details: Giants pay QB a little more than he’s worth
Desperate times call for desperate measures, and no one can fault the Giants franchise so much for wanting to stick around for both Jones and Barkley in 2023.
It was also revealed that Jones will receive $82 million in guaranteed money and another $35 million in incentives. The amount of money guaranteed indicates that the Giants may be able to get out of Jones’ contract after two years, which makes the overall deal look a lot smarter from a franchise perspective.
So Daniel Jones is on the books for four years and $160 million with $82 million guaranteed upon signing, per sources. Another $35 million is available in incentives.
Saquon Barkley is currently worth $10.1 million on the franchise tag. #giants #nfl
— Jordan Raanan (@JordanRaanan) March 7, 2023
Even at base value, paying Jones $40 million for the season is not…. this…. bad?
His peers in financial terms are Stafford, Prescott and Derek Carr. All three may currently be a step above Jones, but they’re not that far off. Assuming Jones grows into a reliable player for New York in the next few years and as the quarterback market continues to swell, making it a mostly reasonable contract turn now rather than later working in the Giants’ interest.
The fourth-year quarterback managed to stay healthy for 2022 and set career highs in completion percentage, passing yards, and rushing yards, among other categories. Danny dropped Dimes in the Giants’ postseason defeat of the Minnesota Vikings and established himself as the winning starter, if only for one year.
Jones has come a long way since his rookie days when he stumbled upon an opportunity to replace Eli Manning as the star of the New York franchise. Manning’s shoes were too big. He couldn’t do that.
After two years of agonizing development, Jones could begin the next chapter of his career with something new on hand: the complete confidence and faith of the Giants front office. He has every reason to fail, but he also has every reason to succeed and make his $40 million a year contract age better than anyone could have predicted.
