Giants ‘on the Hook for’ 8-Figure Amount as Vikings Sign Daniel Jones: Insider

Getty The New York Giants owe Daniel Jones a large portion of money after his reported deal with the Minnesota Vikings.

Former New York Giants quarterback Daniel Jones is signing with the Minnesota Vikings practice squad, according to several NFL insiders including Ian Rapoport (NFL Network).

The Vikings emerged as a strong contender to acquire Jones on November 24, and in the end, that’s where the first-round talent chose to go. But what becomes of his massive $160 million contract and how much of it do the Giants pay from this point on?

“Contract update: The Vikings will pay Daniel Jones a little over $100,000 for the rest of the season if he stays on the practice squad. (He’d get a higher rate if/when he’s moved to the 53-man roster), ” NFL Network insider Tom Pelissero informed. He added that this “leaves the Giants on the hook for the other roughly $11.7 million.”

So, Big Blue owes Jones a salary of $11,700,000 for the remainder of the 2024 campaign, and they’ll also incur a dead cap hit of $22.2 million in 2025 according to Spotrac co-founder Michael Ginnitti.

On the flip side, the organization will free up $19.4 million in cap space next year and clear the books for 2026. Lastly, since he’s no longer with the Giants, the injury guarantee in his former contract is no more — even if Jones were to get hurt with the Vikings.