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The New York Giants and quarterback Daniel Jones agreed to a four-year, $160 million deal with an additional $35 million in incentives, NFL Network reported Wednesday.

The agreement came just minutes before the 4 p.m. ET deadline for teams to use their franchise tag. It reportedly includes $82 million in guaranteed money.

If the Giants didn’t reach agreement with Jones on a long-term contract, he would have been tagged. Instead, multiple reports Wednesday indicate the Giants now will use the franchise tag on running back Saquon Barkley.

Jones, 25, had a breakout season in 2022, playing a career-high 16 games. He didn’t miss any games because of injury for the first time in his four seasons. He sat out Week 18 to rest for the postseason.

Jones completed 67.2 percent of his passes for 3,205 yards and 15 touchdowns against five interceptions in 2022. He also rushed for 708 yards and seven touchdowns. He’s thrown for 11,603 yards and 60 TDs against 34 interceptions for his career. He’s 21-31-1 as the Giants’ starter since being selected No. 6 overall in the 2019 draft.

The Giants undoubtedly will aim to build a cohesive coach-quarterback tandem they haven’t seen since the long relationship between Eli Manning and Tom Coughlin ended after the 2015 season. Jones played under his third coach, Brian Daboll, in four seasons in 2022 and led New York to a 9-7-1 record and the divisional round of the NFC playoffs.

Last April, the Giants declined Jones’ fifth-year option worth $22.38 million for 2023.

Having Barkley return to the backfield under the $10.09 million franchise tag price only can help Daboll and Jones, although Barkley had hoped to strike a long-term deal. Barkley played for $7.2 million in his fifth-year option last season and was looking for a sizable raise as part of a new contract.

Barkley rushed for a career-high 1,312 yards and added 10 rushing touchdowns last season after battling injuries the previous two seasons. He reportedly previously turned down a deal worth more than $12 million annually.

The Giants selected Barkley with the No. 2 overall pick in the 2018 NFL Draft, sandwiched between quarterbacks Baker Mayfield and Sam Darnold.

Barkley, 26, is a two-time All-Pro selection. In 60 NFL games, Barkley has carried the ball 954 yards for 4,249 yards and 29 touchdowns. He also has 247 receptions for 1,820 receiving yards and eight more TDs.

–Field Level Media