Giants have 78 million reasons for key wrinkle in Daniel Jones decision

Former New York Giants running back Saquon Barkley served as the centerpiece of the team’s offense ever since he was selected with the No. 2 overall pick in the 2018 NFL Draft. During his six years in the Meadowlands, Barkley often carried a lackluster offensive roster into scoring position. 

Yet, Giants general manager Joe Schoen decided to put his faith in quarterback Daniel Jones instead. New York signed Jones to a monster four-year, $160 million contract in 2023, then allowed Barkley to test the free agency market this offseason.

The Giants approached the 2024 season with the intention of finding out if Jones could be the franchise quarterback they desperately needed. They seem to have found the answer to that question, and it isn’t the one they hoped it would be.

Less than two years after Jones’ contract extension, the Giants appear set to part ways with the former No. 6 overall pick.

Daniel Jones’ benching ensures Giants can cut him

After another disappointing campaign, the Giants announced their decision to bench Jones for the final stretch of the regular season. Although Schoen claimed it would be a “football decision,” it’s evident that the Giants are simply protecting themselves from a potential injury. 

Jones’ contract contains a $23 million injury guarantee for the 2025 season. That figure would become fully guaranteed if Jones gets injured and isn’t able to pass a physical in March. Assuming the Giants plan to release Jones this offseason, exposing him to the risk of injury could adversely affect those plans. 

By parting ways with Jones in the offseason, the Giants will save the remaining $78 million still owed on his contract through the 2026 season, per ESPN’s Jordan Raanan. They will still take a dead money charge of $22.2 million to their 2025 salary cap, but that’s for money that was already paid.

After all, it’s rare for quarterbacks to be demoted from a franchise starter to the third-string option. The Giants plan to start former undrafted quarterback Tommy DeVito instead of veteran Drew Lock, who signed with the team this offseason. That decision may also be contract-related — Lock’s deal contains incentives for team performance, playing time and passing statistics.

Despite the addition of rookie wide receiver Malik Nabers, Jones has continued to regress since he won a playoff game during the 2022 season. The 27-year-old quarterback has led the Giants to a 3-13 record through 16 games since he signed his deal in March 2023. He’s thrown two touchdown passes and four interceptions in his past five games, and Giants head coach Brian Daboll has appeared visibly frustrated while Jones has missed open wide receivers.

Jones made over $108 million in 70 games with the Giants, per Spotrac. That makes him the 35th highest-paid quarterback in NFL history, just behind former Indianapolis Colts quarterback Andrew Luck ($109 million). 

That’s quite a lot in comparison to Barkley, who the Giants could have kept for a measly $12 million annual salary.