Giants to place franchise tag on Jones if deal not in place

New York Giants general manager Joe Schoen said the club will place the franchise tag on quarterback Daniel Jones if a multi-year deal is not in place before the March 7 deadline, according to team writer Michael Eisen.

If Jones is tagged, the two sides are still expected to continue negotiating a long-term deal.

Jones' salary would be $32.4 million under the non-exclusive tender for the 2023 season if a new agreement can't be worked out, per Over The Cap.

Schoen admitted tagging Jones would likely restrict the club's efforts to upgrade at other positions in the offseason.

"If you have to franchise Daniel, I don't think that's best for the organization," Schoen said. "I don't believe it's best for Daniel, especially as we try to build a team around him and (answer) questions about receiver and other positions on the other side of the ball where we may need depth."

Schoen noted that Jones' change of agents from CAA to Athletes First won't impact negotiations and is "cautiously optimistic" that both Jones and running back Saquon Barkley, another pending free agent, will remain with the club.

The Giants opted not to exercise the fifth-year option in Jones' rookie deal, forcing them to into this decision ahead of the start of free agency on March 15.

Jones, 25, threw for 3,205 yards, 15 touchdowns, and five interceptions and posted a career-high 92.5 passer rating. New York qualified for the playoffs for the first time since 2016 after going 9-6-1 in the regular season. The Giants defeated the Minnesota Vikings before falling to the Philadelphia Eagles in the divisional round.