(Photo by Mike Stobe/Getty Images)
The New York Giants made the rounds in the offseason after signing QB Daniel Jones to that huge extension.
Plenty of analysts and fans criticized and questioned the deal, and the team has recently taken action to make it more suitable for their finances.
According to Field Yates of ESPN (via Dov Kleiman), the team just restructured his contract by converting $8.42 million of his salary into a signing bonus.
Report: #Giants have restructured QB Daniel Jones’ contract by converting $8.42 million of his base salary into a signing bonus, via @FieldYates
The Giants created $6.315 million in cap space. pic.twitter.com/0NAtsMHKwe
— Dov Kleiman (@NFL_DovKleiman) September 4, 2023
This move creates $6.315 million in cap space, with his cap hit going up by $2,015 million every season for the next three years as a result.
This was a much-needed move by the Giants, as they had less than $1 million in cap space before this move.
Also, even if they don’t use that money this season, the salary cap space could carry over into the following offseason.
Jones had signed a four-year extension worth a whopping $160 million, making him one of the ten highest-paid quarterbacks in the league by the time of his signing.
The deal includes $82 million in fully guaranteed money with up to $35 million in incentives, and it could keep him tied to the organization through 2026.
The Duke product is coming off his best season in the league, reaching career highs in passing yards (3,205), passer rating (92.5), completion percentage (67.2%), rushing yards (708), and rushing touchdowns (7), establishing himself as a legit two-way threat.
Still, he’s not a star in this league by any means just yet, and he may never reach that status.
But another year of development under Brian Daboll might be just what he needs to prove his doubters wrong once and for all.
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