The math behind Daniel Jones' benching and scenarios for Giants' 2025 cap savings

The struggling New York Giants (2-8) appear to be starting the process of moving on from quarterback Daniel Jones after nearly six seasons under center.

ESPN's Adam Schefter reported Monday the team demoted Jones to third-string while promoting emergency passer Tommy DeVito to starter exiting its Week 11 bye.

The move is likely the beginning of the end of a conflicting era for the Giants that saw the organization sign Jones to a four-year, $160M extension after he led it to its first playoff victory since Super Bowl XLVI in 2022.

Since then, Jones missed most of the 2023 season with a torn ACL and the team owns an 8-19 record with little salary cap room to improve the roster.

Schefter added New York is benching him in order to avoid an injury that would trigger a $23M guarantee in 2025.

Schefter previously indicated his belief that Jones' tenure in New York would be over once a benching was made official, citing previous situations where Russell Wilson and Jimmy Garoppolo were later let go after being supplanted in Denver and Las Vegas.

There's also more foresight that went into the benching than just avoiding an injury down the stretch in 2024.

According to NFL Network's Tom Pelissero, Jones is owed $30.5M in 2025 with a $41.605M cap hit.

However, that gets wiped off the books if the team cuts or trades him before March 16, four days after the start of free agency.

If he were to remain on the roster after that point, $12M of Jones' $23M injury guarantee would become a full guarantee — meaning the team couldn't get out of paying him that minimum amount.

Cutting or trading Jones after June 1 would allow the team to save $30.5M in salary cap, carrying $11.05M in dead cap for 2025 and 2026 due to Jones' remaining signing bonus still owed.

If the team does so prior to June 1, it would carry a $22.21M dead cap hit and only save $19.395M in cap space in 2025.

So, there are multiple avenues the team can take but cutting Jones loose before free agency or after June 1 seems like the most likely from a financial point of view.