Daniel Jones

Largest 2023 Cap Hits: Offense

July 11th, 2023 at 3:40pm CST by Sam Robinson

The NFL’s salary cap once again ballooned by more than $10MM, rising from its $208.2MM perch to $224.8MM. Factoring in the pandemic-induced 2021 regression, the NFL’s salary risen has climbed by more than $42MM since 2021.

This has allowed teams more opportunities for roster additions and opened the door for more lucrative player deals — at most positions, at least. However, it does not look like this season will include a $40MM player cap number. The Browns avoided a record-shattering Deshaun Watson $54.9MM hit by restructuring the quarterback’s fully guaranteed contract, calling for monster figures from 2024-26.

Here are the largest cap hits for teams on the offensive side going into training camp:

Patrick Mahomes, QB (Chiefs): $39.69MM
Ryan Tannehill, QB (Titans): $36.6MM
Jared Goff, QB (Lions): $30.98MM
Jake Matthews, T (Falcons): $28.36MM
Trent Williams, T (49ers): $27.18MM
Dak Prescott, QB (Cowboys): $26.83MM
Laremy Tunsil, T (Texans): $26.61MM
Jimmy Garoppolo, QB (49ers): $23.8MM
Amari Cooper, WR (Browns): $23.78MM
Mike Evans, WR (Buccaneers): $23.69MM
Ronnie Stanley, T (Ravens): $23.67MM
Joe Thuney, G (Chiefs): $22.12MM
Russell Wilson, QB (Broncos): $22MM
Lamar Jackson, QB (Ravens): $22MM
Daniel Jones, QB (Giants): $21.75MM
David Bakhtiari, T (Packers): $21.29MM
Kirk Cousins, QB (Vikings): $20.25MM
D.J. Moore, WR (Bears): $20.17MM
Matthew Stafford, QB (Rams): $20MM
Brian O’Neill, T (Vikings): $19.66MM
Taylor Decker, T (Lions): $19.35MM
Deshaun Watson, QB (Browns): $19.1MM
Braden Smith, T (Colts): $19MM
Josh Allen, QB (Bills): $18.64MM
Courtland Sutton, WR (Broncos): $18.27MM

As should be expected, quarterbacks dominate this list. Mahomes’ number checks in here despite the Chiefs restructuring his 10-year, $450MM contract in March; the two-time MVP’s cap hit would have set an NFL record had Kansas City not reduced it. The Chiefs did not restructure Mahomes’ deal last year, but if they do not address it — perhaps via a complex reworking — before next season, Mahomes’ $46.93MM number would break an NFL record.

The Titans have not touched Tannehill’s contract this offseason, one that included some trade rumors months ago. This is the final year of Tannehill’s Tennessee extension. Mahomes and Tannehill sat atop this ranking in 2022.

Cousins is also heading into a contract year, after the Vikings opted for a restructure and not an extension this offseason. Cousins does not expect to discuss another Minnesota deal until 2024, when he is due for free agency. Two relatively low cap numbers have started Wilson’s $49MM-per-year extension. The Denver QB’s cap number rises to $35.4MM in 2024 and reaches historic heights ($55.4MM) by ’25. The subject of a Goff extension has come up, and it would bring down the Lions passer’s figure. But Goff remains tied to his Rams-constructed $33.5MM-per-year deal through 2024.

Jackson and Jones’ numbers will rise in the near future, with the latter’s contract calling for a quick spike in 2024. Next year, the Giants QB’s cap hit will be $45MM. Watson’s 2024 hit, as of now, would top that. The Browns signal-caller is on the team’s ’24 payroll at $63.98MM. Long-term consequences aside, the Browns can be expected to once again go to the restructure well with Watson’s outlier contract.

The Raiders did not backload Garoppolo’s three-year contract; it only climbs to $24.25MM on Las Vegas’ 2024 cap sheet. The Bills did backload Allen’s pact. Its team-friendly years are done after 2023; the six-year accord spikes to $47.1MM on Buffalo’s cap next year. The Cowboys have gone to the restructure well with Prescott. Like Watson, the Cowboys quarterback is tied to a seemingly untenable 2024 cap number. The March restructure resulted in Prescott’s 2024 number rising to $59.46MM. Two seasons remain on that $40MM-AAV extension.

Another notable cap hold that should be mentioned is Tom Brady‘s. When the Buccaneers did not sign the again-retired QB to another contract before the 2023 league year, his $35.1MM dead-money figure went onto Tampa Bay’s 2023 cap sheet. The Bucs will absorb that entire amount this year. Brady’s 2022 restructure, after retirement No. 1, led to the $35.1MM figure forming.

Were it not for another O-line-record extension, the Tunsil number would have come in at $35MM this year. Matthews signed an extension last year. Moore would have come in higher on this list were he still on the Panthers, who took on $14.6MM in dead money to move their top wideout for the No. 1 overall pick. Sutton came up regularly in trade rumors, with the Broncos wanting a second-round pick for the sixth-year veteran. The former second-rounder’s high base salary ($14MM) hinders his trade value.

Giants QB Daniel Jones’ Asking Price Reached $47MM Per Year

July 5th, 2023 at 10:46am CST by Sam Robinson

The final part of the Giants’ long-running Daniel Jones–Saquon Barkley retention plan is still going, with the team remaining in talks with the Pro Bowl running back ahead of the July 17 franchise tag deadline. But the earlier discussions were more complex in nature.

Not only did the Giants need to find a way to keep both Jones and Barkley off the 2023 market, but they were negotiating with a quarterback with an uncertain price tag. Injuries and inconsistency during Jones’ first three years led the Giants to pass on his fifth-year option in 2022. The former No. 6 overall pick ended up navigating his contract year well, piloting Big Blue to the playoffs and setting himself up for a big payday.

Jones became the first quarterback to sign an extension with the team that declined his fifth-year option, and while the final numbers checked in far higher than anyone would have expected at this point last year, the four-year Giants starter is believed to have asked for a monster contract. As negotiations commenced, Jones’ camp sought a $47MM-per-year extension, Dan Duggan of The Athletic notes (subscription required).

That number is higher than what we heard leading up to his deal. A February report indicated that Jones, after changing agents, was gunning for a $45MM-AAV extension. It turned out the Giants needed to move their quarterback down from a number that would have at the time made him the third-highest-paid QB — per average salary — in the NFL. Jones’ ask would have placed him in front of Kyler Murray and Deshaun Watson‘s AAVs. Subsequent extensions for Lamar Jackson and Jalen Hurts have raised the market to $52MM per year, but when the Giants hammered out their Jones deal, only Aaron Rodgers was past $50MM. And Rodgers’ 2022 deal turned out to be a uniquely structured pact that produced a trade.

The Giants ended up reaching a happy medium with Jones, giving him the same overall terms — four years, $160MM — Dak Prescott and Matthew Stafford reached with their respective teams in the previous two offseasons. Prescott also did better than Jones on the guarantee front, securing $95MM fully guaranteed at the same offseason juncture Jones ($81MM locked in) scored his payday. Prescott possessed leverage of a whopping cap number — from a second franchise tag — hitting the Cowboys’ books in 2021. Jones, however, enjoyed negotiating weapons of an imminent free agency trip and the prospect of the Giants losing Barkley. New York found a way to retain both players, but Barkley is less than two weeks from being tied to the $10.1MM running back tag this season. The Giants were planning to tag Jones — at $32.4MM — had no deal been struck in March.

Jones, 26, managing to parlay a 15-touchdown pass season into a $40MM-per-year windfall may go down as one of the better negotiating coups in recent memory, but the Duke product was targeting a bottom-tier pass-catching corps that had sustained injuries and lost Kadarius Toney via trade (after the 2021 first-rounder missed most of the Giants portion of his season with injury). Jones offered an efficient passing performance to lift the Giants past the Vikings in the wild-card round, adding 78 rushing yards in that game. This followed a career year on the ground for Jones as well; he finished with 708 rushing yards to further aid the Giants’ shorthanded offense.

While the Jones deal has been scrutinized, the Giants can also escape it with fairly minimal damage by 2025. Should Jones’ 2022 season prove fluky, the Giants can move on by making the QB a post-June 1 cut in 2025 and absorb an $18MM dead-money hit. All parties will hope this agreement ends better, as the Giants are committed to the Dave Gettleman-era draftee for at least two seasons.

NFL Restructures: McCaffrey, Jones, Franklin-Myers, Jones

May 5th, 2023 at 8:47pm CST by Ely Allen

Here are a few details on recent contract restructures agreed to around the league:

The 49ers were able to reach an agreement on a restructured contract with star running back Christian McCaffrey last week, according to ESPN’s Field Yates, opening up $8.58MM in cap space. The team converted $10.72MM of McCaffrey’s 2023 base salary into a signing bonus and added two void years in order to reach the desired cap savings.
The Raiders were likewise able to restructure the contract of outside linebacker Chandler Jones to free up $5.07MM in cap space, according to Yates. Jones agreed to convert $6.33MM of his 2023 base salary into a signing bonus and add an additional void year to help Las Vegas reach those figures.
Yates also reports that the Jets reached an agreement last week to restructure defensive end John Franklin-Myers‘s contract. New York converted $4.32MM of Franklin-Myers’s 2023 base salary into a signing bonus to clear up $3.46MM in cap space.
In one of the least impactful updates we’ve reported, the Giants‘ cap space decreased by $750K last week because of a corresponding increase to quarterback Daniel Jones‘s cap hit. According to Dan Duggan of The Athletic, the adjustment stems from an incentive Jones can earn this season if he plays over 65 percent of the team’s offensive snaps and wins the division. According to the league’s CBA, “any incentive bonus based on the team’s ranking in its Division automatically will be deemed ‘likely to be earned,'” which adds the incentive automatically to Jones’s 2023 cap hit.

QB Notes: Giants, Geno, Watson, Pats, Jets

March 11th, 2023 at 3:53pm CST by Sam Robinson

After a frenzied run-up to the franchise tag deadline, the Giants have been a bit quieter leading up to free agency. The team’s top business is complete, though they will also be prepared to add talent next week and try to negotiate a Saquon Barkley extension before the July deadline. The Giants’ top contract is done, however, with Daniel Jones agreeing to a four-year, $160MM deal. That contract includes $82MM fully guaranteed — eighth among QBs — and both his 2023 and 2024 base salaries ($9.5MM, $35.5MM) are fully guaranteed, Mike Florio of Pro Football Talk notes. Most of Jones’ 2025 base ($30MM) is guaranteed for injury at signing, but it does not become fully guaranteed until the 2025 league year. Rather than a year-out vesting date, Jones’ 2025 guarantees not vesting until that point gives the team an out barring injury. Jones’ $46MM 2026 base salary is nonguaranteed, Florio adds.

Although the nonguaranteed 2026 money more accurately tabs this deal as a three-year, $112.5MM pact, the Giants would be on the hook for just $18MM in dead money were they to shed it from their payroll in 2025. Here is the latest from the QB ranks:

The Seahawks look to have convinced Geno Smith to accept a “prove it” contract, albeit on a major raise. Initially reported as a three-year, $105MM pact, Smith’s deal includes full guarantees ($27.3MM) that only stretch through 2023. An additional $12.7MM is guaranteed for injury until February, when NFL.com’s Mike Garafolo notes (on Twitter) it shifts to a full guarantee. That gives the Seahawks additional time to evaluate Smith, who surprised most with his 2022 performance. Smith’s guarantee consists of a $26.1MM signing bonus and a $1.2MM base salary in 2023, Albert Breer of SI.com tweets. The Seahawks could designate Smith as a post-June 1 cut in 2024 and be charged with just $8.7MM in dead money. Pete Carroll has spoken of the possibility the Seahawks could take a quarterback at No. 5. While the trade-down-happy team may be trying to create a market for the pick, the Smith details point to the team’s QB situation not being settled beyond 2023.
Browns GM Andrew Berry discussed the possibility of a Deshaun Watson restructure. While this is a restructure-crazed point on the NFL calendar, the prospect of adjusting this particular deal would create some new territory due to the $230MM fully guaranteed sum. The Browns do not need Watson’s permission to reshuffle money on his deal, Florio notes. Watson is on Cleveland’s 2023 cap sheet at a record-shattering $54.9MM. A restructure this year could create $33.69MM in cap space, Florio adds. Moving more money onto future caps would create some eye-popping figures, but it is a route the Browns can take to create cap space this year. Cleveland is currently more than $14MM over the cap.
Bailey Zappe‘s cameo as a Patriots starter caused became a storyline briefly last season, and while Mac Jones won his job back, Jeff Howe of The Athletic notes Zappe will have a chance to push Jones for the job in 2023 (subscription required). After a record-setting season at Western Kentucky, Zappe completed 70.7% of his passes and won both his starts as a Patriot. Jones helped Bill O’Brien learn Alabama’s system back in 2021, when the former was preparing for the draft, so it would be interesting to see if Zappe will cause a legitimate QB controversy this year.
The Jets are interested in bringing back Mike White, but they are expected to have some competition. Other teams are interested in adding the popular Jet as an option to compete for a role, Garafolo notes (video link). This could be as a bridge option for a team planning to draft a quarterback. The Jets have zeroed in on Aaron Rodgers. If the all-time great does decide he wants in on the Big Apple, White would seemingly be headed elsewhere.

Giants Increased Offer To Saquon Barkley; Extension Remains In Play

March 7th, 2023 at 8:06pm CST by Sam Robinson

Rather than spend $32.4MM on a Daniel Jones franchise tag, the Giants beat Tuesday’s buzzer by extending their quarterback. They will have both he and Saquon Barkley on their 2023 payroll for less than that price. Jones’ cap number and Barkley’s $10.1MM tag will help the team pursue upgrades in free agency, but another deadline will loom later this offseason.

The Giants will have until July 17 to reach an extension with Barkley, who has engaged in off-and-on extension talks with team dating back to November. Since that point launched negotiations, Ryan Dunleavy of the New York Post reports the Giants have increased their offer to Barkley. That unspecified hike is believed to have emerged during the parties’ offseason talks. GM Joe Schoen said (via Fox Sports’ Ralph Vacchiano, on Twitter) those will continue Wednesday.

Barkley is believed to have turned down a deal in the $12.5MM-per-year neighborhood. Schoen previously acknowledged the in-season negotiations did not lead to much progress, but Dunleavy adds optimism exists the Giants and Barkley can come to agreement before the July deadline. Absent an extension, Barkley will be tied to that $10.1MM cap number throughout the season. Barkley said after the season he wanted to stay with the Giants.

Guarantee distribution and contract length have also formed hurdles here, Dunleavy adds. The three- and four-year timelines have divided the sides. This will probably be Barkley’s last big-ticket agreement, given his experience level and age (26), so it would stand to reason guarantees will be the bigger factor in a deal being closed. That said, the recent run of running back extensions have mostly been four- or five-year pacts. Derrick Henry, Joe Mixon, Aaron Jones and Christian McCaffrey signed four-year extensions. Dalvin Cook and Alvin Kamara inked five-year accords. Ezekiel Elliott (six) and Nick Chubb (three) are the outliers among the top running back earners.

Barkley joins Josh Jacobs and Tony Pollard on the tag, a team-friendly price that checks in higher than only the kicker/punter tag this year. With the above-referenced deals all agreed to from 2020-21 — excepting Elliott’s, which was signed in 2019 — it is logical for Barkley to pursue a top-market deal given the salary cap’s climb. Barkley initially asked for McCaffrey-level money, but Dunleavy notes the sixth-year back reduced his price by a bit. Barkley said at season’s end he was not looking to reset the market, but after his bounce-back season and considering his importance to the Giants, it should not be expected he settles in the $12MM-AAV range. Still, the sides appear to have bridged the gap to a degree.

The Giants announced Jones’ extension Tuesday night. Jones came down from a $48MM-per-year ask, according to Dunleavy, and The Athletic’s Dan Duggan notes the quarterback’s agents flew to New Jersey on Monday to finish off the negotiations (subscription required). Jones’ 2023 cap hit is expected to check in around $19MM. Barkley is unlikely to sign an extension before free agency; talks had stalled as of Tuesday morning. But the Giants should still have some room to chase some free agents or retain others. They have been linked to having interest in bringing back Julian Love, Nick Gates and Jon Feliciano. All three are ticketed for free agency.

Hammering out those deals may seem easier after the team, using the 2020 Titans’ blueprint (Henry tag, Ryan Tannehill extension), negotiated its top offseason barrier.

Giants, Daniel Jones Agree To Deal; Team To Use Franchise Tag On Saquon Barkley

March 7th, 2023 at 2:56pm CST by Sam Robinson

Minutes before the franchise tag deadline, the Giants have reached an agreement on a Daniel Jones extension. The sides have a deal in place, Ryan Dunleavy of the New York Post reports (on Twitter).

This should allow the team to use its franchise tag on Saquon Barkley, and NFL.com’s Mike Garafolo notes that will happen (Twitter link). Jones agreed to a four-year, $160MM extension, Garafolo and NFL.com’s Ian Rapoport report. The sides are finalizing the deal, which Rapoport notes can increase by $35MM via incentives (Twitter link).

The Giants had until 3pm CT today to avoid a situation in which Jones was tagged — the team’s plan absent an extension — and Barkley headed toward the open market. Now, the Giants will have both players back in 2023. Barkley’s tag is worth $10.1MM, and he joins Josh Jacobs and Tony Pollard among running backs tagged this year. Jones’ extension will make that number easier for the Giants to fit onto their cap. Tagging Jones would have placed a $32.4MM cap hold on New York’s payroll.

Jones had the Giants up against a deadline that could have meant losing Barkley, pointing to the former first-round pick doing well on the guarantee front. The 25-year-old quarterback will collect $82MM over the deal’s first two years, Tom Pelissero of NFL.com tweets, with SI.com’s Albert Breer noting this does cover Jones’ guarantees (Twitter link). Four years had been the expectation here, Jeremy Fowler of ESPN.com adds (on Twitter). The Giants are essentially making a two-year bet on Jones ascending.

This represents a staggering financial leap for Jones, who piloted the Giants to the playoffs despite the team’s receiver blueprint changing for the worse early in the season. Jones displayed his best work in terms of efficiency, leading the NFL in interception percentage, and used his legs far more than he had over his first three seasons (810 rushing yards between the regular season and playoffs). Still, the Giants greenlighting a $40MM-per-year extension — the deal’s structure matches Dak Prescott and Matthew Stafford‘s accords — for a QB who threw 15 touchdown passes in his contract year is certainly a notable development in recent transaction history.

Prescott and Stafford agreed to their respective four-year, $160MM extensions on lower salary caps; the cap ballooning past $224MM aided Jones and the Giants. Jones, Prescott and Stafford are all tied for seventh in terms of QB AAV. Though, the money coming for Joe Burrow, Justin Herbert and Jalen Hurts — and possibly Lamar Jackson, as that saga is heating up in Year 3 — stands to bump the NFC trio down a bit this offseason. For now, however, Jones has secured top-10 quarterback money less than a year after the Giants passed on a $22.4MM fifth-year option.

The Giants entered their extension talks with Jones hoping the price would not hit $35MM per year, but the tag deadline worked in Jones’ favor. As Jones hired new representation, the $45MM-AAV number emerged. That figure floated for multiple weeks, with a report late last week indicating Eli Manning‘s successor was asking for a deal north of that number. The Giants negotiated with Jones’ camp daily at the Combine, and the sides agreed on what could be a nice compromise. Jones will have a chance to work in Brian Daboll‘s offense for the long haul, and the team is expected to pursue receiver upgrades to help its passer.

A neck injury ended Jones’ 2021 season after 11 games. Although the Duke product’s 24 touchdown passes as a rookie — in just 13 games — remain a top-10 all-time mark for first-year passers, he did not show much in the way of development during the 2020 and ’21 seasons. In 14 starts in 2020, Jones threw just 11 TD passes. Considering the 2020 CBA made fifth-year options fully guaranteed, the Giants predictably passed on Jones’. But the dual-threat QB showed long-elusive progress in his contract year. The Giants are making a bet superior weaponry will further unlock the Dave Gettleman-era draftee’s capabilities.

As for Barkley, it will be interesting to see how he responds. The former No. 2 overall pick congratulated Jones on his extension (Twitter link), but he is now attached to a $10.1MM salary after turning down an extension in the $12.5MM-per-year range. The guarantees included in the Giants’ proposal are not known, but it has long been assumed GM Joe Schoen is not expected to offer Barkley a deal in the Christian McCaffrey neighborhood ($16MM AAV). That will create another notable deadline for the Giants, who have until July 17 to extend Barkley. Otherwise, the sides cannot discuss a deal until 2024. A compromise of $14MM per year emerged weeks ago, but the Giants and Barkley are still not believed to be close.

Barkley, 26, is obviously a superior NFL player to Jones. Positional value led the Giants to understandably prioritize the less accomplished player. Barkley’s hot start to the 2022 season — one that ended with the Penn State product totaling 1,650 scrimmage yards and 10 touchdowns, completing a comeback from an injury-plagued three seasons — earned him an early negotiation slot with Schoen. Like Jones, the new regime was not completely sold on Barkley coming into the year. Trade buzz circulated early during the 2022 offseason, but both Gettleman-era investments earned the new regime’s trust.

The Giants negotiated with Barkley, and not Jones, during their bye week last season. They did not come close on terms, and although Barkley talks resumed before Jones’ negotiations began this offseason, no compromise is imminent. Fortunately, the team had the tag at its disposal to ensure its cornerstone tandem returned. Considering only one player has skipped the season after being tagged since 1998 (Le’Veon Bell, 2018), it is a good bet Barkley will be in uniform for the Giants in 2023.

The Giants entered Tuesday with more than $36MM in cap space. Today’s transactions will eat into that total considerably, with Fowler adding (via Twitter) Jones’ 2023 cap number should come in around $19MM. But the team’s plan to pursue wideouts and potentially bring back Julian Love should not be entirely nixed because of this afternoon’s high-profile transactions.

Latest On Contract Talks Between Giants, Daniel Jones

March 7th, 2023 at 11:00am CST by Adam La Rose

MARCH 7: Negotiations continued deep into Monday night, Garafolo notes, but nothing is currently considered imminent (Twitter link). As is the case with the Ravens and Lamar Jackson, talks could come right down to the 3pm CT deadline for a resolution. Adding further to the continued uncertainty, ESPN’s Dianna Russini tweets that it is “50-50” whether or not a multi-year deal gets over the finish line in time between the Giants and Jones. She adds that talks with Barkley have “stalled,” pointing further to him reaching free agency if New York is forced to tag Jones.

MARCH 6: One major domino has fallen with respect to the 2023 QB market already, but plenty of attention remains focused on the Giants and Daniel Jones. Talks at the Combine didn’t result in a contract being finalized, but a breakthrough could still be possible in the very near future.

Less than 24 hours remain until the franchise tag deadline, meaning the Giants continue to face pressure to ink Jones to a multi-year deal (and by doing so, give themselves the option of using the franchise tag on running back Saquon Barkley). Failing that, Jones will receive the tag to lengthen the negotiating window for both sides, but also ensure that he will be in New York for at least the 2023 campaign.

Jones’ decision to change agents and subsequent increase in contract demands has dominated the storyline in this situation. His asking price (roughly $45MM-per-year) is not believed to be a point to which the Giants are willing to go, though, and the 25-year-old’s performances through 2021 made it an easy decision for the team’s previous regime to decline his fifth-year option. That has left the two parties at something of an impasse, though optimism was said to exist following the weekend’s negotiations.

On that point, NFL Network’s Mike Garafolo reports (via Twitter) that Jones’ representatives have travelled to New Jersey today to continue talks in person with the Giants. That will at least keep open the possibility of a deal being finalized at the eleventh hour. The framework of a possible contract will still likely be heftier than what the team had been hoping for, though.

In an update on where things stand as of the weekend, ESPN’s Jeremy Fowler and Dan Graziano report that Jones’ deal could be four years in length and carry a value of over $160MM. That would be very similar to the one which Derek Carr signed with the Saints earlier today, though a number of differences exist in the two passers’ respective situations. Jones doesn’t have the pedigree of Carr, a four-time Pro Bowler, but the Duke alum is six years younger and took a significant step forward in play last year, the first with Brian Daboll in place as head coach.

Fowler notes that many around the league have been surprised by the degree to which the Giants remain “comfortable” in giving Jones a major second contract. They still have the franchise tag option (which would cost $32.4MM) as a failsafe, of course, but using it would allow Barkley to hit free agency as the top RB on the market. Whether today’s talks produced any progress will go a long way in determining the Giants’ next moves in the coming days.

Latest On Giants, Daniel Jones

March 5th, 2023 at 7:38am CST by Sam Robinson

MARCH 5: Jones and New York brass are expected to leave the scouting combine today “with no contract resolution in sight,” as Tom Pelissero of the NFL Network reports (via Twitter). Pelissero’s NFL Network colleague, Mike Garafolo, says it always seemed likely that, if a long-term deal is going to be struck prior to the March 7 deadline for teams to utilize the franchise tag, it will happen in the 48 hours leading up to the deadline (Twitter link). However, Pelissero’s report suggests that there is still a great deal of work to be done in these negotiations.

MARCH 3, 4:00pm: Painting a more optimistic picture of the situation compared to Leonard’s report, ESPN’s Jordan Raanan tweets that progress has been made in recent days between the two sides. He adds that a contract being finalized before the tag deadline “doesn’t seem unreasonable,” something which would of course carry massive implications for the team if it were to happen. Jones being signed would allow for the franchise tag to become an option for Barkley, thus keeping him off the market. Raanan also echoes the expectation that Jones’ deal will check in at a value of at least $40MM per season.

MARCH 3, 8:57am: Daniel Jones‘ rumored $45MM-per-year price point emerged almost two weeks ago. Despite the Giants negotiating with their free agent-to-be quarterback daily this week, they do not appear to be making progress.

Not only has Jones not come down from that lofty number, Pat Leonard of the New York Daily News reports his ask is beyond $45MM on average. GM Joe Schoen said Thursday he wished the two sides were closer on terms by this point. The gap between where the Giants want this deal to land and what Jones’ camp points to a franchise tag.

The Giants initially feared Jones’ ask would come in beyond $35MM per year. Given the developments since the sides started negotiating, that number sounds reasonable now. Guarantee structure will matter here, but it does not appear the Giants are entertaining a number north of $45MM AAV. That is top-five (for now) quarterback money — north of Patrick Mahomes‘ 10-year deal’s average — and it points to Team Jones viewing the fifth-year passer as ascending to the point the Giants need to pay up for what he will be with a stronger supporting cast.

Jones’ wild-card performance in Minnesota notwithstanding, his being connected to an ask in this neighborhood after a 15-touchdown pass season is interesting. The Giants’ wide receiver plan broke down to the point a waiver claim (Isaiah Hodgins) had emerged as his go-to target by season’s end. Saquon Barkley was by far the team’s best skill player. Jones’ ask staying at this place could certainly lead to the sixth-year running back hitting the market.

The $37MM-AAV range has emerged as a sweet spot here; that would check in around the price of a 2024 Jones franchise tag. This year’s QB tag is $32.4MM, explaining the gap between the Giants and Jones four days away from the deadline to tag players.

Evaluators at this week’s Combine have classified Jones as an above-average quarterback not in the top tier at his position, Leonard adds, noting execs would want to see more before entertaining a contract in this price range. “Above average” is a safe label, even after Jones’ surprising 2022 season. The 25-year-old QB is a year removed from the Giants passing on a $22.4MM fifth-year option. Now, the prospect of Joe Burrow, Justin Herbert, Jalen Hurts and Lamar Jackson moving the top of the QB market is likely affecting the Giants.

This offseason brings a handful of quarterback-needy teams. The Jets and Saints are leading the way in terms of those connected to veteran arms, with Aaron Rodgers and Derek Carr at the forefront. The Giants are not planning to let Jones test free agency; the only way he could gauge his value is to negotiate with other teams while on the tag. It would cost a team two first-round picks to pry Jones from the Giants, who would need to match an offer sheet to keep him in that scenario. Would another team’s offer come close to a deal in the high-$40MM range?

Even if this offseason saga is unlikely to reach that point, the Giants are on the verge of being stuck with a $32.4MM tag clogging their payroll going into free agency. The team sits near the top of the league in terms of cap space, holding $46.9MM as of Friday morning. Its equation would change if/once Jones is tagged.

Giants Not Planning To Raise Offer To Saquon Barkley?

March 2nd, 2023 at 10:43am CST by Sam Robinson

Inheriting two downward-trending pieces on offense in 2022, the Joe Schoen-led front office is now negotiating with two players coming off bounce-back seasons. The Giants are days away from a date that could send one of them out of New York.

The team continues to negotiate with Daniel Jones and Saquon Barkley. Schoen said he has talked to the free agent-to-be (or soon-to-be-tagged) quarterback’s camp throughout the week but mentioned during a Good Morning Football appearance he wished the Giants and their QB were closer on terms (video link). Teams have until 3pm CT Tuesday to apply franchise tags, which the Giants will do if no Jones deal commences by then.

Jones’ talks have hovered over Barkley’s throughout the offseason, as the running back — despite beginning negotiations with the Giants before they were sold on Jones — represents the second domino here. The Giants offered Barkley a deal in the $12.5MM-per-year neighborhood — one Derrick Henry, Dalvin Cook and Nick Chubb populate. Then again, those contracts were respectively agreed to in 2020 (Henry, Cook) and 2021 (Chubb). The salary cap has climbed to $224.8MM since, which could make Barkley signing for a similar amount a somewhat sobering (as far as eight-figure-per-year deals go, at least) transaction on his part.

While a report indicated the Giants moving to $14MM per year could probably finish this process, Ralph Vacchiano of Fox Sports adds Combine buzz suggests the team will not raise its offer from the $12.5MM-AAV place (Twitter link). When the Giants initially offered that, Schoen confirmed the talks did not come close. The second-year GM said earlier this week the sides had made some progress.

Guarantees here are not known, and if Barkley would entertain signing for this price, the Giants would likely need to step up on that front. As a former No. 2 overall pick, Barkley already signed a deal for $31.2MM guaranteed at signing. Not even Christian McCaffrey‘s contract — still the position-record deal on the AAV front, at $16MM — contains that. If Barkley does not accept the estimated $12.5MM-per-year accord, Vacchiano adds the Giants would be willing to let him walk.

This stance invites risk, as their pass catcher-deficient offense depended on Barkley for much of last season. Then again, free agency will bring a host of starter-level options — including Miles Sanders, Kareem Hunt and Devin Singletary, who arrived in Buffalo during Schoen and Daboll’s tenure — that would save the Giants money as they regrouped following failed Barkley negotiations. Still, Barkley is quite popular among the team’s fanbase and, when healthy, is one of the NFL’s best backs. Although this year’s free agent running back surplus could devalue the position, Barkley would shoot to the top of the market if untagged — especially if the Cowboys and Raiders respectively cuff Tony Pollard and Josh Jacobs.

The Giants’ best path remains extending Jones by Tuesday’s deadline and tagging Barkley at $10.1MM. A Jones tag will cost $32.4MM. As far as a long-term deal goes, Jones has been closely tied to a $45MM-per-year ask. The Giants had hoped $35MM per year would be the ceiling here. To bridge this gap, Vacchiano notes the sweet spot may well be a $37MM-AAV extension with the first two years guaranteed (Twitter link).

Jones asked the Giants for some time away before beginning negotiations and hired new representation after that stretch. How the Giants proceed with their passer’s new agency over the next week will certainly have a major say in their immediate future.

Giants, Saquon Barkley Moving Closer To Deal; Team Begins Dexter Lawrence Talks

February 28th, 2023 at 4:50pm CST by Sam Robinson

Sitting as the second domino in the Giants’ offseason equation for weeks, Saquon Barkley remains unsigned. He and the Giants have been in talks since midway through last season, but Joe Schoen pointed to progress Tuesday.

The second-year Giants GM said the sides are “a little bit closer” on terms. It is believed the Giants offered Barkley a deal in the $12.5MM-per-year range; that did not move the needle much during the fall talks. The Giants have not been connected to being open to moving too much higher, but they might be willing to climb a bit to retain their dynamic back.

“We haven’t totally bridged [the difference]. We’re a little bit closer,” Schoen said, via ESPN.com’s Jordan Raanan. “There’s still a gap, [otherwise] would’ve done it. We’ll still work through that. We’re working with Roc Nation and [Barkley’s agent] Kim [Miale]. We have a great relationship with them and her.

“… Again, you have to draw a line in the sand — like we’re not going any further. And if it goes past this [line], alright, let’s shift to Plan B. Again, hopefully we don’t get to all that but we went through all these plans.”

A recent report indicated a deal at around $14MM per year could move this lengthy process past the goal line. That still would place Barkley outside the top three among running backs, and with those deals (for Christian McCaffrey, Alvin Kamara and Ezekiel Elliott) all being signed in 2020 or before, it would obviously be somewhat unsatisfying for the Giants back to accept such terms now that the cap has spiked to $224.8MM. But the Giants could have both the advantage of the franchise tag and a robust running back market that could suppress players’ values.

Barkley, 26, has already pocketed considerable cash, being a former No. 2 overall pick and having finished his fifth-year option season. But this offseason represents his best chance to cash in during a career not expected to last too much longer. Barkley should still have multiple prime years left, but backs routinely do not play past 30 in the modern game. The Giants have until March 13 to keep Barkley off the market, but their real deadline may be March 7 — the last day to apply franchise tags.

Schoen reiterated the Giants’ plan to tag Daniel Jones (at a steep $32.4MM) unless an extension is reached. A $10.1MM Barkley tag would, then, only commence if Jones is extended. While the GM expressed cautious optimism extensions for Barkley and Jones will be completed, via the New York Daily News’ Pat Leonard (on Twitter), the Giants are likely to go down to the wire here.

Beyond the Jones-Barkley components of this offseason, the Giants have Dexter Lawrence coming off a breakout year and heading into a contract campaign. The Giants have already begun talks with Lawrence, Schoen said (via Leonard), but the discussions look to be preliminary in nature. It is not known if the Giants want to be the team that first bridges the gap between Aaron Donald and the field at defensive tackle. The Commanders just tagged Daron Payne, but he will be part of that mix that includes Jeffery Simmons and Chris Jones, who are each in contract years.

Those contracts would stand to drive up the price for Lawrence, who is going into his fifth-year option season. But the former Clemson standout (and last piece of the Odell Beckham Jr. trade still on either the Giants or Browns) said he wants to stay in New York. The Giants would have the option of a 2024 franchise tag with Lawrence, though their 2023 tag candidates obviously take precedence.

Scrolling further down Big Blue’s expanding priority list, Schoen confirmed the Giants want to keep Julian Love. The Giants will speak with Love’s agent at the Combine, but a deal may not transpire until the Giants survey the market. Schoen said the team will wait to see if teams cut safeties to create a market surplus, which would affect Love’s value. John Johnson will be one of the cap casualties, joining a market set to house Jessie Bates, Vonn Bell, C.J. Gardner-Johnson and Jordan Poyer, whom Schoen has close ties to from his Buffalo days. Additionally, Schoen mentioned Jihad Ward as a leadership type the Giants will not want to lose (Twitter links via Leonard). The rotational edge rusher just played out a league-minimum contract.

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