The New York Giants have committed to Daniel Jones as their future at quarterback, signing him to a $160million extension while franchise tagging running back Saquon Barkley.

Negotiations between the Giants and Jones went right down to the wire as they looked to get a deal done before Tuesday's franchise tag deadline.

Jones and his representation had been said to be demanding as much as $45m a year following a 2022 season in which he helped the Giants reach the playoffs for the first time since the 2016 season.

New York's Wild Card round win over the Minnesota Vikings was the Giants' first in the postseason since they defeated the New England Patriots in Super Bowl XLVI at the end of the 2011 campaign.

Instead, Jones will receive an average of $40m over the course of a four-year deal, which contains $35m in incentives and will see him get $82m over the first two years.

Jones, a previously maligned sixth overall pick in 2019, enjoyed the best season of his career in 2022 under first-year head coach Brian Daboll, completing 67.2 per cent of his passes for 3,205 yards, 15 touchdowns and just five interceptions. He added 708 yards and seven touchdowns as a runner.

The Giants finished 9-7-1 in a turnaround few expected, but their decision to make Jones the seventh-highest-paid quarterback in the NFL by annual salary after one season of production that was still a long way from the league's elite will raise eyebrows.

Barkley will remain with the Giants at a much cheaper price, with the franchise tag set to pay him $10.1m for 2023.

The second overall pick in 2018, Barkley had seen his career hindered by injuries in recent years but bounced back last season to rack up 1,312 rushing yards and 10 touchdowns.

New York used the non-exclusive tag on Barkley, meaning teams can still negotiate with him.

The Giants would have the chance to match any deal he may make with a rival team, who would have to give two first-round picks to New York if they chose not to match.