Giants Rumors: Daniel Jones Wants More Than $45M per Year in Contract Extension

New York Giants quarterback Daniel Jones is reportedly seeking to become one of the highest-paid quarterbacks in the NFL annually.

According to Pat Leonard of the New York Daily News, Jones' representatives are asking for more than $45 million per year in contract negotiations with the Giants.

Jones, who will become a free agent March 15 if the Giants don't sign him to a long-term deal or place the franchise tag on him, would be tied with Patrick Mahomes of the Kansas City Chiefs as the fifth-highest-paid quarterback in the league on an annual basis if he signs for $45 million per year.

This week, Giants general manager Joe Schoen appeared on NFL Network's Good Morning Football (h/t Leonard) and discussed Jones' contract situation, saying: "You're starting to feel the time crunch a little bit. I wish we were a little bit closer on a deal than what we are right now, but there's still time. We're gonna circle back up again today at some point."

The Giants have until Tuesday to decide what they want to do with their franchise tag, and they are in a difficult position since both Jones and Pro Bowl running back Saquon Barkley are set to become free agents.

Re-signing one of them before the deadline would allow New York to use the tag on the other, but it remains unclear if the Giants are particularly close to reaching an agreement with either player.

As noted by Leonard, franchising Jones would likely be a more prudent financial decision than signing him to a $45 million-per-year deal since the Giants would only have to pay him $32.4 million under the non-exclusive franchise tag in 2023.

That would also give the Giants more time to work out a long-term deal, although it may not be in the cards if Jones and his camp hold firm at the reported asking price of over $45 million per year.

The Giants made the controversial decision to select Jones with the No. 6 pick in the 2019 draft, and while it initially looked to be a poor decision, he turned things around in 2022.

In his first season playing under head coach Brian Daboll and offensive coordinator Mike Kafka, Jones completed a career-best 67.2 percent of his passes for a career-high 3,205 yards, 15 touchdowns and a career-low five interceptions.

Daboll and Kafka also harnessed Jones' running ability, as he rushed for a career-high 708 yards and seven scores.

Additionally, Jones went 9-6-1 as a starter and helped the team reach the playoffs for the first time since 2016, as it upset the Minnesota Vikings in the NFC Wild Card Round of the playoffs before falling to the Philadelphia Eagles in the divisional round.

Jones still has plenty of room for improvement as a passer, and that could come if Schoen is able to surround him with more weapons at wide receiver.

Because of that, the Giants would likely prefer to keep him around for 2023 and see how he progresses, but it is difficult to envision that happening at a price in excess of $45 million.