The Giants locked up their franchise quarterback on Tuesday, beating the franchise-tag deadline by signing Daniel Jones to a four-year, $160 million contract with $82 million guaranteed, $94 million virtually guaranteed, an additional $35 million in incentives and a 2023 cap number of roughly $18.5 million, as The Post’s Paul Schwartz reported.
If, however, the 25-year-old Jones does not build off of the huge step forward he took during the 2022 season and the Giants have doubts about him after two years, they can easily get out of the rest of the contract.
The fully guaranteed $82 million in Jones’ contract will be paid over the 2023 and 2024 NFL seasons.
As broken down by ProFootballTalk, Jones received a $36 million signing bonus with a $9.5 million guaranteed base salary for 2023 and a $500,000 guaranteed workout bonus.
He has the same guaranteed workout bonus for 2024, when he’ll make a $35.5 million guaranteed base salary.
The additional $12 million in virtual guarantees stems from his 2025 base salary of $30 million; the $12 million becomes fully guaranteed at the beginning of the 2024 league year next March, when Jones is certain to still be on the Giants.
Jones has another $500,000 workout bonus for 2025 and 2026, when he would receive a $1 million roster bonus to begin the league year and be set for a base salary of $46 million, which is not guaranteed.
Since the Giants can cut Jones after the third year with nothing guaranteed for 2026 before the start of the league year, Jones essentially received a three-year, $112.5 million contract.
Certainly, the Giants are hoping to have Jones for the duration of the four-year contract after he helped lead them to their first playoff berth in six years last season and their first playoff win since they defeated the Patriots in Super Bowl XLVI 11 years ago.
Jones threw for 3,205 yards, 15 touchdowns, and five interceptions while completing 67.2 percent of his passes last season while rushing for 708 yards and seven scores.