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New York Giants quarterback Daniel Jones spoke about coming to an agreement on a four-year $160 million contract with Joe Schoen and the team, and he is glad to be back, according to Charlotte Carroll of The Athletic.
“I wanted to find a way to work it out… I'm glad we did,” Daniel Jones said, via Carroll. “I'm thrilled to be back.”
Jones is back with the Giants after the team declined his fifth-year option a season ago. Jones also spoke on whether he thought the deal would get done ahead of Tuesday's 4 p.m. deadline.
“There were some points when you had more confidents and points when you had less confidence, but I always wanted to work it out,” Jones said, via Tom Rock of Newsday Sports.
Jones found out about the deal being done at around 3:53 to 3:54 p.m. ET, according to Art Stapleton of NJ.com.
Lastly, Jones said he celebrated by going out to dinner with his friends and agents and picked up the tab, according to Stapleton.
Daniel Jones contract details
The four-year $160 million contract means the average annual value is $40 million, but that is not how it will impact the salary cap each season.
Joe Schoen said the signing bonus for Jones is $36 million, spread out over the four seasons, according to Dan Duggan of The Athletic. So $9 million each season. The base salary for this season is $9.5 million, so adding that to the signing bonus, Jones' cap hit for 2023 will be around $18.5 million, depending on a workout bonus.
This allowed Schoen to franchise tag Saquon Barkley.
$82 million is guaranteed in the first two seasons, with virtually $94 million guaranteed, and there is $35 million in incentives.
The cap number will certainly take a significant jump up in year two, but that was necessary for the Giants to add talent to their roster this season, as well as tag Saquon Barkley.
The majority of the guaranteed money being in the first two years means the Giants could have the flexibility to move on from Jones in two seasons if it does not work out.
