The release comes 20 months after the Giants gave Jones a four-year, $160 million contract, which means they will take on a significant cap penalty.

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 benched quarterback Daniel Jones earlier this week, and he was expected to remain a backup until the team moved on from him this offseason. However, the Giants are parting ways with their former No.