Recent record-breaking contracts given to some of the NFL’s best quarterbacks have changed the perspective on the controversial deal that New York Giants quarterback Daniel Jones signed last offseason. Once considered a significant overpay, some are beginning to feel as though the Giants have Jones signed to a financial bargain of a contract.
Giants: Is Daniel Jones’ contract a financial bargain?
While reacting to the news of Green Bay Packers QB Jordan Love’s new record-breaking contract, NFC East Fox Sports reporter Ralph Vacchiano described the Giants’ deal with Jones as a “bargain” on social media:
At the time of signing the deal, Jones’ contract made him one of the highest-paid players in the NFL. His average annual salary of $40 million per season was top-seven at his position. However, since then, the deal has aged into a middle-of-the-pack contract that makes Jones the T14th-highest-paid quarterback in the league.
The Giants paid Jones as a top-10 player at his position. But he is now well-removed from that status as big-time contracts to quarterbacks such as Love, Tua Tagovailoa of the Miami Dolphins, Joe Burrow of the Cincinnati Bengals, Jalen Hurts of the Philadelphia Eagles, and Justin Herbert of the Los Angeles Chargers have all blown the $40 million average annual salary out of the water.
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Despite a middle-of-the-pack AAV, Jones’ cap hit is still monstrous
While Jones’ $40-million AAV might be middle of the pack, his 2024-25 salary cap hit is still a monstrous number, making it controversial to call his deal a “bargain.” Jones’ cap hit this season comes in at $47.85 million, which is the fifth-largest in the NFL. His base salary of $35.5 million is the third-largest in the league, too.
Considering where he has ranked in some of the most important quarterback statistics over the last several years, it’s hard to justify calling Jones’ deal a financial bargain. The Giants paid Jones $46 million last season for six games of his service, three total touchdowns, and six interceptions.
Oftentimes, availability is the best ability, and Jones’ struggles with injuries left the Giants with some buyer’s remorse this offseason as they explored trading up for a quarterback prospect in this year’s NFL Draft.
Jones needs to play more and much better in the 2024-25 season to justify his contract. If he continues to struggle, then the Giants will likely take the out in his deal next offseason and reboot their future with a new signal-caller under center.
