The New York Giants on Tuesday signed quarterback Daniel Jones to a four-year contract and used their nonexclusive franchise tag on running back Saquon Barkley.
The Giants made the moves just before Tuesday's 4 p.m. ET deadline for NFL teams to use their franchise and transition tags. The team confirmed the deal with Jones on Tuesday night.
Jones' deal is worth $160 million, with $82 million guaranteed at signing, sources told ESPN. The deal includes up to $35 million in incentives. Barkley will make $10.091 million in 2023 under the nonexclusive franchise tender.
Giants general manager Joe Schoen had said that the team hoped to retain both players, which was made possible by the long-term deal for Jones.
"We had productive conversations with Daniel and his representatives over the course of the past week or so," Schoen said in a news release announcing the deal. "We are all pleased that we were able to come to an agreement prior to today's deadline. This gives us a greater ability to continue to build our roster."
Jones, who turns 26 in May, is coming off the most efficient season of his career and led the Giants to a winning record for the first time since being drafted in the first round in 2019. He also played brilliantly in leading New York to a postseason victory over Minnesota, setting the stage for nearly two months of contract negotiations.
He passed for 3,205 yards with 15 touchdowns and five interceptions last season while rushing for 708 yards and seven touchdowns.
"I said after the season I love this place," Jones said in a statement. "I've really enjoyed my time here and I want to be here. I have great respect for this organization, the Maras, the Tisches, my coaches and teammates. I am happy we were able to come to an agreement."
Jones' contract status was a key factor in the Giants' offseason plans for Barkley, who was a vital contributor to New York's surprising playoff run in 2022. Schoen said the Giants planned to use their franchise tag on Jones if the sides were unable to reach a deal, which likely would have resulted in Barkley becoming a free agent.
Barkley once again showed he can be a difference-maker, playing a full season in 2022 for the first time since his rookie year in 2018 and finishing fourth in the NFL with 1,312 rushing yards. The former No. 2 overall draft selection scored 10 touchdowns, had 32 rushes of 10 or more yards and finished with 1,650 yards from scrimmage en route to being the runner-up for AP Comeback Player of the Year.
The only question surrounding Barkley has been his health; he struggled with injuries for three consecutive seasons from 2019 to 2021 and missed almost all of 2020 because of a torn ACL in his right knee.
ESPN's Jordan Raanan contributed to this report.