Giants GM Joe Schoen said Thursday in Indianapolis that the Giants’ daily negotiations with Daniel Jones’ new agents still haven’t drawn the parties close to a new deal, Pat Leonard of the New York Daily News reports.

“You’re starting to feel the time crunch a little bit,” Schoen said on NFL Network’s Good Morning Football as Tuesday’s franchise tag deadline nears. “I wish we were a little bit closer on a deal than what we are right now, but there’s still time. We’re gonna circle back up again today at some point.”

This should explain why they’re still not close: league sources say that Jones’ representatives are asking for more than $45 million per year on a multi-year contract extension.

That’s over $12.6 million more than what Schoen could get Jones for in 2023 on the $32.4 million non-exclusive franchise tag.

That’s at least $8 million more than what the Giants would have to pay Jones on average annually in 2023 and 2024 ($37.05 million) if they franchise tagged him for two consecutive seasons, based on overthecap.com’s projections.

So the tag is certainly where these negotiations seem to be headed if there isn’t a meaningful change in course.

“Daniel played well this year. We’d like to have him back,” Schoen reiterated Thursday. “We have different options whether it’s contract extension or utilizing the franchise tag. In an ideal world we’d get something done with him, and we’re gonna continue to work towards that.”

Only five quarterbacks average $45 million per year or more on their current contracts: the Packers’ Aaron Rodgers ($50.2 million), the Broncos’ Russell Wilson ($49 million), the Cardinals’ Kyler Murray ($46.1 million), the Browns’ Deshaun Watson ($46 million) and the Chiefs’ Patrick Mahomes ($45 million), per overthecap.com.

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