Daniel Jones’ surprising release from Giants is a cautionary tale

On Thursday following practice, benched quarterback Daniel Jones stood in front of the New York Giants media, called playing for the organization “a dream come true” and said that he was “100 percent accountable” for his role in New York getting off to a 2-8 start.

On Friday Jones asked for, and was granted, his release from the team.

In a statement posted on social media, the Giants called the quarterback a “great representative” of the organization, pointing to his “handling” of the situation and directly referencing his comments to the media:

Now Jones will head to waivers, but given his contract for this season, a claim is unlikely. Any team claiming him would be responsible for the remaining $13,805,555 the quarterback is guaranteed in 2024, meaning it is more likely Jones will become a free agent.

That would give Jones a role in the decision regarding where he plays next, should he hit free agency.

There are also some financial implications here for the Giants. Jones was due $30.5 million in 2025, with a cap number north of $41 million. But releasing him now means New York takes the full $22.21 million dead cap hit next year, instead of the $41.605 million dead cap number next season. Thus, the release also sees the Giants save nearly $20 million in 2025 cap space, plus the cash associated with his 2025 contract, and the QB is fully off the books in 2026.

This brings to a close his time in New York. Jones was a first-round selection by the Giants back in 2019, coming off the board at No. 6 and as the second quarterback taken, behind first-overall selection Kyler Murray. During his tenure in New York Jones guided the Giants to a single playoff berth, and a win over the Minnesota Vikings in the Wild Card Round following the 2022 NFL season.

He signed a big four-year contract extension worth up to $160 million following that season.

Jones’ release is both a lesson in accountability — the organization directly referencing how he handled “the situation” speaks to that point — as well as a cautionary tale in how organizations handle the position. When the Giants decided to extend Jones, which opened the door to Saquon Barkley’s eventual departure, it was questioned by many around the league. Was his rebound season in 2022 and New York’s trip to the postseason a sign of true improvement, or rather a mirage, built upon a new offensive system and the benefits of a weak schedule more than anything else?

Everything that has happened in New York since then perhaps offers the best answer to that question.