Giants Cut Ties with Quarterback Daniel Jones Following $160m Contract

The New York Giants have announced the termination of quarterback Daniel Jones' contract, less than two years into his four-year, $160 million extension signed in 2023. The decision was described as a "mutual agreement" by the team and player. 

Jones, the Giants' 2019 first-round draft pick, recently lost his starting quarterback position. The team has struggled this season, securing only two wins out of 10 games and suffering five consecutive losses. 

"Daniel came to see me this morning and asked if we would release him," said Giants president John Mara. "We mutually agreed that would be best for him and for the team. Daniel has been a great representative of our organisation, first class in every way. His handling of this situation yesterday exemplifies just that. 

"We are all disappointed in how things have worked out. We hold Daniel in high regard and have a great appreciation for him. We wish him nothing but the best in the future." 

The team announced earlier in the week that Tommy DeVito, a former undrafted free agent, would take over as the starting quarterback. 

Jones, now 27, joined the Giants in 2019 and was briefly one of the top-10 highest-paid quarterbacks in the league when he signed his deal. The contract guaranteed two years of pay, but his performance this season has fallen short of expectations. He ranks 32nd in passer rating among qualified quarterbacks, with seven interceptions and only eight touchdowns recorded in 2024.