As usual we’ve gotten a look at the details of the Daniel Jones contract.
As usual, here they are.
1. Signing bonus: $36 million.
2. 2023 base salary: $9.5 million, fully guaranteed.
3. 2023 workout bonus: $500,000, fully guaranteed.
4. 2024 base salary: $35.5 million, fully guaranteed.
5. 2024 workout bonus: $500,000, fully guaranteed.
6. 2025 base salary: $30 million, $23 million of which is guaranteed for injury at signing and $12 million of which converts to full guarantee at the start of the 2025 league year.
7. 2025 workout bonus: $500,000.
8. 2026 offseason roster bonus: $1 million, due at start of league year.
9. 2026 base salary: $46 million, non guaranteed.
10. 2026 workout bonus: $500,000.
The deal has a base value of $160 million over four years, with a caveat mentioned below. The deal has $82 million fully guaranteed at signing, and a practical guarantee of $94 million.
The contract also includes $70 million in available incentives, with a maximum payout of $35 million.
Jones will earn $1 million in incentives and a $1 million escalator in each year for being a top-15 quarterback. He can earn another $1.5 million in incentives and a $1.5 million escalator in each year for being a top-10 quarterback. He can earn another $1.5 million of incentives and a $1.5 million escalator in each year for being a top-five quarterback. That’s $4 million in incentives and $4 million in escalators if he’s a top-five quarterback in any given season.
He also has playoff incentives that add up to $5 million in incentives and $5 million in escalators.
As it was explained to PFT, if Jones performs in 2023 as he did in 2022, he will earn another $1.75 million in 2023 incentives and another $1.75 million in 2024 escalators. At that same level over the life of the contract, he’ll earn $12.25 million of the available $35 million, pushing the total value to $172.25 million — an annual average of $43.06 million.
That said, it’s basically a three-year, $112.5 million contract, given that the $47.5 million due in 2026 is not guaranteed. That’s an average of $37.5 million.
The Giants also could escape the deal after two years, with $82 million paid.
UPDATE 12:36 p.m. ET: A prior version of this article indicated that the $12 million in full guarantees for 2025 vested in 2024. It actually vests in 2025. We apologize for the error.