What impact will Daniel Jones' new contract have on the NFL quarterback market?

Daniel Jones' new $160 million contract continues to generate loads of reactions in the NFL world. The former Duke Blue Devils quarterback reached a four-year deal with the New York Giants after the team decided against activating the fifth-year option in his rookie contract.

What's more important, though, is the impact the massive contract will have on the rest of the NFL with respect to the quarterback market. The fact that Jones was able to negotiate such a huge amount effectively changes the complexion of the market.

Jones has now joined the likes of Patrick Mahomes, Dak Prescott and Josh Allen in the $40 million annual wages club. This will certainly trigger a hike in the demand from top quarterbacks across the NFL, considering Jones' pedestrian stats.

New contract disruption

Jones has signed the contract at a time when a good number of quarterbacks ahead of him are locked in contract talks or seeking a move to another team. This effectively affects figures that were earlier discussed, as well as the ones that are only in plans, in many of those contracts.

One of the teams that immediately feels the heat of Jones’ new contact is the Minnesota Vikings. The team has found it hard to reach common ground with Kirk Cousins as they aim to rebuild. Jones' new contract will definitely worsen the situation for the Vikings, who could now see Cousins play his last season with them.

The Detroit Lions will also have to open a new contract with Jared Goff next offseason. Things will definitely not go the way the Lions had expected with the new development. Joe Burrow is also eligible for a new contract with the Cincinnati Bengals, and he will definitely be looking to get something far ahead of what Jones just got.

More importantly, Jones' new deal will have a whole lot of influence on the next contract of both Lamar Jackson and Jalen Hurt. The Baltimore Ravens have been unable to reach a deal with Jackson and have placed a non-exclusive franchise tag on him. The Eagles are also seeking to offer Jalen a massive new contract that takes him away from his rookie deal.

Scramble for quarterbacks in the draft

Quarterback contracts are now expected to be sky-high in the NFL after Daniel Jones' new deal. As the situation might become quite unbearable for a number of teams, the next resort is to recruit quarterbacks from the draft.

Draft selections will definitely prove to be a much cheaper option for a couple of teams and take up lesser salary cap space. However, the rush to pick the top quarterback prospect in the draft might create another boom in the quarterback market.

Next month's draft, as well as the 2024 edition, will definitely see a scramble to pick the best quarterback prospect. College players might, however, not be able to fit into the NFL almost immediately, which gives an edge to the veterans. What will become evident in the end is the fact that the sky-high wage demand from quarterbacks is the new normal.