The New York Giants and quarterback Daniel Jones have agreed to a four-year contract extension worth $160 million with an additional $35 million in incentives, according to multiple sources.
The deal just beat Tuesday’s (March 7) 4 p.m. ET deadline to franchise tag players, which the Giants will now use on running back Saquon Barkley.
BREAKING: Giants signing QB Daniel Jones to four-year extension worth $160M. (via @MikeGarafolo, @RapSheet) pic.twitter.com/Zct3ssIkj5
— NFL (@NFL) March 7, 2023
The deal is less than the rumored $48 million a year Jones initially asked for, but it still puts the newly-improved quarterback in the top seven in annual salary at his position. The $40 million AAV ties him with Matthew Stafford and Dak Prescott while putting him just ahead of newly-acquired Saints quarterback Derek Carr.
Last season, Jones had the best year of his four-year career, putting up career-highs in completion percentage (67.2) and passing yards (3,205) with just five interceptions. He also added 708 rushing yards and seven rushing touchdowns, leading his team to the NFC Divisional Round.
Since his debut in 2019, Jones has improved his completion percentage and lowered his interceptions every year, yet he was never able to put together a winning record until last season. The sixth overall pick by the Giants, many people were skeptical of Jones’ abilities after failing to succeed in his first three years. However, a new front office, a new head coach in Brian Daboll and a healthy Barkley helped turn things around for the 25-year-old Duke product.
The front office did not make a good first impression for Jones, as one of their first orders of business was declining his fifth-year option worth $22.5 million in 2023. He had to show his worth last season and it seems he did, as New York elected to extend their quarterback instead of franchise tagging him, which would’ve likely made Barkley a free agent.
We have placed the non-exclusive franchise tag on Saquon Barkley
Details: https://t.co/msYaPp2Ynh pic.twitter.com/F1rNECuAe7
— New York Giants (@Giants) March 7, 2023
Tagging Barkley enlists his services to New York for at least one more season, although he is slated to be a free agent in 2024. The Giants tried to ink a deal with the star running back earlier this year but Barkley turned it down, instead seeking a deal in the $14 million a year range that would’ve put him in the top-four at his position. He did not want to be franchise tagged, but Giants general manager Joe Schoen maintains that he wants to keep the young QB-RB duo intact.
“We want them both back,” Schoen said. “I think they work well with each other. I do think they complement each other well. The goal is to hopefully get something done.”
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