Daniel Jones’ tenure as the starting quarterback for the New York Giants is winding down.

According to reports, the Giants will be switching quarterbacks following their Week 11 bye week. Jones will be benched, and Tommy DeVito will step up from being the team’s third-string quarterback to take on the starting role.

Drew Lock, who has been the backup quarterback throughout the season, will continue in that position after DeVito’s elevation.

This decision to bench Jones wasn’t unexpected. He struggled significantly during the 2024 NFL season, leading the Giants to a disappointing 2-8 record over the first 10 weeks, and recorded a passer rating of 79.4, ranking as the fourth-lowest in the league.

Furthermore, benching Jones helps the Giants avoid a tricky situation that could have arisen if he had continued to play. His contract includes an injury guarantee that would complicate efforts to release him in 2025 if he sustained an injury.

Here’s what to understand about Jones’ contract and the impact it had on his benching.

Overview of Daniel Jones’ contract

Jones is currently in the second year of a four-year, $160 million extension that he signed with the Giants in 2023 after his rookie contract expired. Here are the full details of the contract, according to Spotrac.com:

• Term: 4 years
• Total value: $160 million
• Average annual value (AAV): $40 million
• Guaranteed money: $81 million

While Jones’ extension was quite lucrative, the Giants took some measures to protect themselves by ensuring that only half of it was guaranteed. This allows them to potentially move on from the contract during the 2025 NFL offseason, incurring a dead cap hit of just over $22.2 million.

However, there was a complication; a substantial part of Jones’ salary for 2025 would automatically become guaranteed if he were to endure a long-term injury.

Injury guarantee in Daniel Jones’ contract

Jones has a $23 million injury guarantee included in his contract for the 2025 NFL season. If he were to suffer a serious injury, the Giants would be obligated to guarantee $23 million of his $30 million base salary for that season.

If not for the injury guarantee, none of Jones’ $30 million salary would be guaranteed until the fifth day of the new NFL league year in March. This timing would provide the Giants enough opportunity to release Jones before incurring further financial obligations.

If Jones had performed as expected based on his lucrative extension, the Giants wouldn’t have had concerns regarding these guarantees. They would have been content to pay them to retain him.

Unfortunately, Jones has fallen short of expectations. Consequently, New York is likely aiming to move on from his contract after the 2024 NFL season, wanting to avoid triggering his injury guarantee which could worsen the burden of his contract.

This could be the main reason for the Giants’ decision to bench Jones, even though general manager Joe Schoen claimed it was a decision made purely based on Jones’ on-field performance. By sitting Jones, the team eliminates the risk of injury and ensures they can part ways without facing an additional $23 million in liabilities.

A recent parallel to this situation can be found with the Denver Broncos, who similarly sat Russell Wilson towards the end of the 2023 NFL season to avoid guaranteeing $37 million of his 2024 salary. Given that the Broncos were contending closer to playoff contention than the Giants, it is not surprising that New York is adopting a similar strategy with Jones.

Daniel Jones’ cap hit and dead cap charge for 2025

Jones is projected to have a cap hit of just over $41.6 million in 2025, according to Spotrac.com. Releasing him would incur a dead-cap charge of approximately $22.2 million for the Giants, which would free up around $19.4 million in overall cap space.

Moreover, the Giants would save money on salary payments, as they would avoid having to pay Jones the $30 million he would otherwise be owed. This could be particularly beneficial in an offseason where they will be seeking a long-term replacement for Jones at quarterback.