The New York Giants and quarterback Daniel Jones have reportedly agreed to a restructured contract, converting $8.42 million of his base salary into a signing bonus, which will free up significant cap space, a source with knowledge of the move told ESPN's Field Yates Monday (September 4) morning.
"The Giants have restructured the contract of QB Daniel Jones, converting $8.42M of his base salary into a signing bonus and creating $6.315M in cap space, per source," Yates wrote on his X account.
Jones signed a four-year, $160 million deal, which included $35 million in and would incentives and pay the former first-round pick $82 million over the first two years of the contract, in March.
New York had opted to decline Jones' fifth-year option on his rookie deal in April 2022, ahead of a career season for the fourth-year quarterback. Jones led the Giants to a 9-6-1 record, making the postseason for the first time, while throwing for 3,205 yards, 15 touchdowns and five interceptions on 317 of 472 passing, while also recording 708 yards and seven touchdowns on 120 rushing attempts.
“Daniel played well this year. We’d like to have him back,” Giants General Manager Joe Schoen told the New York Daily News one week prior to signing Jones. “We have different options whether it’s contract extension or utilizing the franchise tag. In an ideal world we’d get something done with him, and we’re gonna continue to work towards that.”
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