The New York Giants benched quarterback Daniel Jones earlier this week, and he was expected to remain a backup until the team moved on from him this offseason. However, the Giants are parting ways with their former No. 6 overall pick immediately.
On Friday, the Giants announced that Jones had requested his release, and that the team would grant Jones his request. Jones officially headed for waivers Saturdaybut it remains unlikely he will be claimed due to the four-year, $160 million contract he signed in March 2023.
Giants president John Mara issued a statement on his former quarterback:
“Daniel came to see me this morning and asked if we would release him. We mutually agreed it would be best for him and the team.
Daniel was an excellent representative of our organization, first class in every way. His handling of this situation yesterday exemplifies just that. We are all disappointed with how things worked out.
We hold Daniel in high esteem and have great appreciation for him. We wish him nothing but the best in the future.”
Jones broke his silence on his bench less than 24 hours before his release, saying that it was an honor to play for this franchise, while taking responsibility for the fact that there were more lows than highs during the past six years.
“The opportunity to play for the New York Giants was truly a dream come true and I am extremely grateful … for the opportunity to play here,” Jones said. “The Giants are a truly first class organization and I have nothing but true respect and appreciation for the people who built it and who help carry on the tradition. I have met so many special people and created relationships that will truly last a lifetime. Thank you. all my teammates , coaches and staff who have done so much for me these past six years, there have been some great times, but of course we all wish there were more of those.”
The reason the Giants kept Jones on the roster until this offseason (and why they put him in the first place) had to do with money. Like Spotrac points outthis decision to part ways with Jones now and put this whole saga behind them leaves the Giants with dead cap hits of $47.1 million in 2024 and $22.1 million in 2025. But the Giants free up $19.4 million in cap space for next year. Overall, there wasn’t much difference in releasing Jones now compared to releasing him the day after Super Bowl.
But if Jones was released with a name after June 1, NFL Media reported that the Giants will carry $11.1 million in cap hits in 2025 and 2026 and save $30.5 million in 2025. Before Friday, that was the expected result — because the Giants could spread the dead money over two years. From a business standpoint, releasing Jones right now isn’t the ideal move as it relates to the 2025 salary cap, but the organization wanted to do right by Jones.
Jones’ fall over the past five days has been dramatic. He went 2-8 as the starter this year, and completed 63.3% of his passes for 2,070 yards, eight touchdowns and seven interceptions. It was clear the Giants made the decision to bench Jones to protect themselves from the $23 million injury guarantee in his contract, but general manager Joe Schoen claimed it was a “football decision.” Jones was demoted from QB1 to QB3/QB4 to ensure he wouldn’t see the field, which was an intrigue in itself, and then he was spotted playing scout team safety at practice, which drew criticism on social media.
The Giants may have had enough of the negative headlines, but this decision also allows Jones to continue his career. Once he clears waivers, Jones will be free to sign with any team.
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