According to Spotrac, the Giants will take on $47.1 million in dead money this year and $22.2 million in 2025. By releasing Jones, the Giants free up $19.4 million in cap space next year as his cap hit will drop from $41.61 million to $22.21 million.

Daniel Jones was due $30.5 million in 2025 with a $41.605M cap number. But the #Giants owe him no more cash beyond this season if they release (or trade) him before March 16, when $12M of his $23M injury guarantee would convert to a full guarantee.

The New York Giants have somewhat hit the reset button at quarterback, and the contrast between their signal-callers is as sharp as a freshly chalked sideline. Tommy DeVito, a relative newcomer with a modest contract, steps into the backup role, while Daniel Jones – once the franchise’s hope – takes a disappointing seat as the emergency QB.