The New York Giants benched quarterback Daniel Jones earlier this week, and he was expected to remain a backup until the team released 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 his request. Jones officially headed off waivers on Saturday, but remains unlikely to be claimed due to the four-year, $160 million contract he signed in March 2023.
Giants president John Mara released a statement about his former quarterback:
“Daniel came to me this morning and asked if we would release him. We mutually agreed that it would be best for him and the team.
Daniel has been a great representative of our organization, first class in every way. Your handling of this situation yesterday exemplified just that. We are all disappointed with how things have turned 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 it was an honor to play for this franchise, while also taking responsibility for the fact that there have been more downs than ups over 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 truly a first-class organization and I have nothing but genuine respect and appreciation for the people who built them and who help carry on the tradition. I have met many skilled 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 last six years. “There have been great moments, but of course we all wish there had been more.”
The reason the Giants kept Jones on the roster until this offseason (and why they benched him in the first place) had to do with money. As Spotrac points out, this decision to part ways with Jones now and put this entire saga behind them leaves the Giants with a cap hit of $47.1 million in 2024 and $22.1 million in 2025. But the Giants free up $19.4 million in cap space next year . Overall, there wasn’t much difference between releasing Jones now compared to releasing him the day after the Super Bowl.
But if Jones were released with a post-June 1 designation, NFL Media reported the Giants would rack up $11.1 million in cap hits in 2025 and 2026 and save $30.5 million in 2025. Before Friday, that was the expected outcome, since The giants could distribute the dead money in two years. From a business standpoint, releasing Jones at this time is not the ideal move when it comes to the 2025 salary cap, but the organization wanted to do right by Jones.
Jones’ decline over the past five days was dramatic. He was 2-8 as a 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 maintained it was a “football decision.” Jones was demoted from QB1 to QB3/QB4 to ensure he wouldn’t see the field, which was a story in itself, and was later seen playing scout team safety in practice, drawing criticism on social media. .
The Giants may have grown tired of the negative headlines, but this decision also allows Jones to move forward with his career. After clearing waivers, Jones will be free to sign with any team.
