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The Giants and quarterback Daniel Jones beat the clock.

According to multiple reports, Jones and the Giants came to an agreement on a long-term deal shortly before the 4 p.m. ET deadline for teams to use franchise tags. Ian Rapoport of NFL Media reports that it is a four-year deal worth $160 million with another $35 million available through incentives.

As Profootballtalk.com's Mike Florio notes, the full structure of the deal will bring more information into how long the Giants are truly committed to Jones as their starting quarterback, but Jones gave them reason to think he can lead them to success during the 2022 season and the Giants did not want to start searching for another quarterback this offseason.

Instead, they will use their tag on running back Saquon Barkley and work on building around those two players as they try to get back to the playoffs again in 2023.

Jones' deal makes him the ninth quarterback to breach the $40 million-per-year mark.

As NFL.com's Kevin Patra suggests, it's a stunning turnaround for the former first-round pick from where we were a year ago.

Upon taking over the Giants, one of general manager Joe Schoen's first big decisions was to decline the fifth-year option on Jones' rookie contract last year. That set the stage for a prove-it season for the former No. 6 overall pick.

Prove it he did in the eyes of the Giants.

In Brian Daboll's offense, Jones had his best season, completing 67.2 percent of his passes for 3,205 yards with 15 touchdowns and five interceptions in 16 games. The QB also rushed for 708 yards and seven TDs on 120 rushes, while cutting down his fumbles (six).

While Jones' passing marks weren't gaudy, they ranked among the most efficient in the NFL.

Jones helped lead the 9-7-1 Giants to a postseason berth and a wild-card win over the Minnesota Vikings, perhaps the best game in his NFL career.

In the end, it was enough to convince the Giants that, under Daboll's tutelage, Jones was just scratching the surface. Now they're paying him to be a difference maker. The pressure is on for New York and Jones to continue their rise in the NFC East.

Schoen set out this offseason to ensure he kept both Jones and Barkley in New York in 2023. Tuesday, the team accomplished that goal.

Next on the agenda?

Building even more talent around Jones, specifically at wideout.

As NJ.com's Bob Brookover put it, "Schoen’s first season in dealing with the receiver position was a fascinating and frustrating one."

Dave Gettleman, his predecessor, had tried to upgrade the position the year before by signing Kenny Golladay to a four-year deal worth $72 million and selecting Kadarius Toney 20th overall in the 2021 draft.

"They became known as Bust 1 and Bust 2," Brookover wrote.

The remnants of those two decisions are the $14.7 million dead-cap hit Golladay will cost the Giants this season and the third- and sixth-round picks the Giants will make next month as compensation for trading Toney to the Super Bowl champion Kansas City Chiefs.

Schoen did put his own signature on the receiving corps by drafting Wan’Dale Robinson in the second round and acquiring Isaiah Hodgins after he was waived by the Buffalo Bills during the Giants’ bye week. Injuries, including a season-ending torn ACL in Week 11 against Detroit, limited Robinson to six games, but the 5-8 rookie showed flashes of brilliance during his limited time on the field.

Hodgins, meanwhile, was part of an unheralded but formidable receiving trio during the second half of the season, catching 33 passes for 351 yards and four touchdowns during an eight-game stretch after he signed with the team.

“Smart, tough and dependable,” is how Schoen described Hodgins. “He’s a good worker and he knows the offense. He could play four spots and he went out and performed the way we thought he would. That was an important piece, an important pickup -- a great job by the pro department identifying him when he became available. The timing was right and he did a heck of a job for us.”

The team re-signed Hodgins last month.

It should also be remembered that the Giants were off in their evaluation of Darius Slayton, who ended up leading the team with 724 receiving yards after taking a pay cut before the start of the season and mostly sitting out the first three games. Richie James also rode to the rescue of the receiving corps in the second half of the season after briefly being benched in the middle of the year.

But Brookover went on to explain that all of that interesting in-season activity, which also included an overly-hyped and pointless courtship of former Giant Odell Beckham Jr., did not change one fact: The Giants and Jones still need a No. 1 receiver.

This free-agent class and this draft class may not allow the Giants to get their guy, but it would still be wise to find Jones another receiving weapon for 2023. As unsexy as this sounds, the team’s best bet might be bringing back Slayton on a one or two-year deal and waiting for a much a better free-agent class at wide receiver next year.

That said, even if the Giants are unable to get the No. 1 receiver they need, there are other ways to upgrade the offense.

They could improve the interior of the offensive line or add a second tight end adept at catching the football.

Somehow, some way, the Giants need to give Jones more to work with next season and that will become their focus after today.