The New York Giants released quarterback Daniel Jones on Friday, a move that was requested by Jones and granted by the Giants, who had effectively benched DJ for perpetuity this week.
The Giants are no longer potentially on the hook for the $23 million injury clause in Jones’ contract but are still going to feel a huge pinch by letting him go as mapped out by Yahoo! Sports’ Sean Leahy.
Jones will technically be placed on waivers, but considering his contract he will end up becoming an unrestricted free agent. He was in the second year of a four-year, $160 million contract extension he signed in March 2023.
There was no guaranteed money remaining after this season and once Jones clears waivers and is released, the Giants will take on $47.1 million in dead salary cap space this season and $22.2 million in 2025, according to Spotrac. They will also pay out his entire $35.5M salary.
There are silver linings to this move, however. The Giants will free up $19.4 million in 2025 salary cap space and could possibly earn a compensatory draft selection should Jones sign with another NFL team this season, which still has seven weeks remaining.
Just catching up to hearing that Daniel Jones was cut, so maybe this has been said already, but as the Comp Pick Guy I should note that if a team signs him this season, they can get compensatory pick credit for him next season—& even backup QBs usually get paid enough to qualify.
— Nick Korte (@nickkorte) November 22, 2024
With many a team looking for quarterback depth, Jones will surely get a few looks. He is healthy and now won’t cost much to any team who signs him.
That team would be wise to let Jones clear waivers, which end Monday at 4:00 p.m. ET, so as not to have to pay the remainder of this 2024 salary.
One of the teams being bandied about by pundits is Dallas, who lost Dak Prescott for the season and is rolling with Cooper Rush and Trey Lance.
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