Giants, Daniel Jones Reach Multiyear Agreement
The New York Giants and quarterback Daniel Jones have reportedly agreed to terms on a four-year deal worth $160 million that could push toward $200 million in incentives.
That means Jones will avoid receiving the non-exclusive franchise tag designation, which would have taken a guaranteed rate of $32.4 million for one year out of the Giants' 2023 cap.
Jones's agents at Athletes First and the Giants, as led by general manager Joe Schoen, met daily during last week's combine and continued the discussions this week in meetings held at the Giants' East Rutherford, New Jersey headquarters.
“We had productive conversations with Daniel and his representatives over the course of the past week or so,” said general manager Joe Schoen via a statement released by the team. “We are all pleased that we were able to come to an agreement prior to today’s deadline. This gives us a greater ability to continue to build our roster.”
There were reports of Jones seeking upwards of $45 million per year, which while excessive, could have been structured in such a way through incentives, which are the micro details that go into a contract of this magnitude.
But with both sides intent on getting a deal done before the tagging deadline, Jones will have financial security, and the hit to the Giants' 2023 cap will likely be reduced by more than half of what it would have cost them to tag the quarterback.
“I said after the season I love this place,” Jones said. “I’ve really enjoyed my time here and I want to be here. I have great respect for this organization, the Maras, the Tisches, my coaches and teammates. I am happy we were able to come to an agreement.”
With Jones's contract situation resolved, the team will use the franchise tag on running back Saquon Barkley, who, per reports, has seen his contract talks stall. The Giants will also probably finalize their intention to designate receiver Kenny Golladay, who will be cut on March 15, as a pre-June 1 ($6.7 million savings) or post-June 1 ($13.5 million savings) transaction.
The Giants may still be planning to lower the cap numbers of defensive linemen Leonard Williams ($32.26 million) and Dexter Lawrence ($12.407 million), who are entering the final year of their respective deals, to clear out more cap space.
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