Giants made ‘one of the great blunders in NFL history’ with $160 million contract

When the New York Giants extended Daniel Jones and placed the franchise tag on Saquon Barkley, they believed prioritizing the quarterback over the running back was the right move. Fast-forward to 2024, and that decision now looms large as Saquon is a strong contender for Offensive Player of the Year, while Jones finds himself cut from the roster after a disappointing tenure.

Who should start at quarterback for the Giants next week?

A Sour End to the Jones Era

The Giants officially moved on from Daniel Jones on Friday morning, cutting ties with their $160 million quarterback just 1.5 years into his deal. This came after a disastrous performance in Germany, where Jones and the Giants fell to a struggling Carolina Panthers team. Riding a five-game losing streak, the Giants are preparing to face the Tampa Bay Buccaneers with third-string quarterback Tommy DeVito set to start.

Jones’s extension included $92 million in guaranteed money, but the Giants received little value in return. The 2024 season was marked by poor performances, and the organization decided to move on before the financial commitments of the 2025 off-season could take effect. By cutting Jones now, the Giants protect themselves from further financial repercussions tied to his injury guarantees.

A Contract Misstep of Historic Proportions

Jones’s release didn’t come as a shock to most observers. According to Jason Fitzgerald of Over the Cap, Jones’s contract “was one of the biggest blunders in NFL history.” The Giants had declined Jones’s $22.3 million player option for the 2023 season, instead allowing him to play without any guarantees before committing to a long-term deal. In hindsight, picking up that option would have been a safer bet, sparing the team from a disastrous extension.

Since signing the deal, Jones managed just three wins and threw a touchdown pass at MetLife Stadium only once. These statistics underscore the failure of the contract and the missed opportunity to allocate resources more wisely—perhaps even extending Saquon Barkley instead.

Saquon Shines While the Giants Look to the Future

While Jones struggled, Barkley thrived, showing why many believed he should have been the team’s top financial priority. Meanwhile, the Giants now sit at a crossroads, holding the third overall pick in the 2025 draft — for now.

A Thursday night win by the Cleveland Browns gave them a stroke of luck in the race for draft positioning. With the Tennessee Titans and Jacksonville Jaguars ahead of them and those two teams set to face off twice down the stretch, the Giants could find themselves with a shot at the top pick.

In what many analysts consider a weak quarterback draft class, the Giants would prefer not to trade up aggressively. Ideally, they’ll stay in position to draft the best quarterback available without sacrificing future assets.

DeVito’s Unlikely Streak: Context Matters

Tommy DeVito’s name surfaced last season during a surprising three-game win streak, but the context of that success often gets overlooked. The Giants’ defense forced 12 turnovers across those games, a stark contrast to this season, where the defense has generated only eight turnovers and hasn’t recorded an interception since Week 1. Moreover, two of DeVito’s wins came against struggling teams in the Washington Commanders and New England Patriots, long before either franchise landed promising quarterbacks Jayden Daniels or Drake Maye.

DeVito’s victories also included a fluke win over the Green Bay Packers, but replicating that success seems unlikely given the current state of the team.

The White Flag on a Lost Season

The Giants have effectively thrown in the towel on their season. By releasing their high-priced quarterback, they’ve acknowledged their mistakes and turned their focus toward the future. However, this decision has left the locker room in a demoralized state. Players may start making “business decisions” as the season winds down, with the team now fully embracing a rebuilding phase.

The Giants’ 2024 campaign will likely go down as one of the most challenging in recent memory, but the hope is that lessons learned this year will guide the franchise toward a brighter future.