How the Giants' releasing Daniel Jones now affects their dead salary cap space

Can’t say this is surprising, but it’s a situation that escalated to the point where it was necessary.

A day after Daniel Jones played scout team safety and the quarterback shared a classy written goodbye, the New York Giants announced they were granting the embattled quarterback his release.

“We mutually agreed that would be the best for him and for the team,” owner John Mara said in a statement.

If you’re a Giants fan, your first questions is: how does releasing him now and not in the offseason affect the team’s cap space?

Turns out: the dead cap hit the Giants are taking — over $22 million — is the same if they released him now or in the offseason.

As you were.

To answer the most common questions I’m seeing:

• No impact on the Giants’ cap whether they released him now or after the season.

• Jones can sign with another team immediately after he clears waivers (he’ll clear waivers).

— Dan Duggan (@DDuggan21) November 22, 2024

Some cap math …

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.

If they… pic.twitter.com/1FWIxyXCzm

— Tom Pelissero (@TomPelissero) November 18, 2024