Report: Daniel Jones, Giants May Agree to Contract Worth at Least $40M by Deadline

Quarterback Daniel Jones and the New York Giants may agree on a contract with an average annual salary of at least $40 million, per ESPN's Jordan Raanan:

That follows a report from Pat Leonard of the New York Daily News, who stated Friday that Jones' representatives are seeking more than $45 million per season in a multiyear contract extension.

The clock is ticking on Jones and the Giants.

The deadline for teams to use their franchise tag is Tuesday at 4 p.m. ET. If the two sides don't agree to a long-term deal by then, general manager Joe Schoen has made it clear that he will place the franchise tag on the quarterback. That will keep Jones with the Giants in 2023 for a $32,416,000 price tag.

The Giants declined Jones' fifth-year option before this season. Jones responded with the best campaign of his four-year career, completing 67.2 percent of his passes for 15 touchdowns (five interceptions) and 3,205 yards. He also rushed for 708 yards and seven scores.

Under Jones' leadership, the Giants finished with a winning record (9-7-1) for the first time since 2016 and won a playoff game (31-24 over the Minnesota Vikings in the NFC Wild Card Round) for the first time since 2011.

The new regime led by Associated Press Coach of the Year Brian Daboll in his first year certainly guided the Giants to greater heights after a 4-13 season in 2021. But Jones put the team on his back at times and created great hope for the future of this franchise.

It's clear the Giants believe in Jones, but the question is whether they'll come to terms before Tuesday. At any rate, Jones is going to be back in the mix in 2023 either on the tag or on a long-term deal.