INDIANAPOLIS — The clock is ticking.

The Giants and Daniel Jones are working to come to an agreement on a multi-year contract, but the two sides are not at the point where there is rampant optimism that a deal will get done. 

The deadline for the Giants to place the franchise tag on Jones is Tuesday, so the days are winding down.

“You’re starting to feel the time crunch a little bit,” Giants general manager Joe Schoen said Thursday morning on NFL Network. “I wish we were a little bit closer on a deal than what we are right now. But again, there’s still time.”

There is still time, but not a whole lot. 

One way or another, Jones will be the starting quarterback in 2023. 

Schoen said he will put the tag on Jones — which would pay him $32.4 million for this season — if a long-term deal cannot be worked out. 

The tag will keep Jones off the open market in free agency, but will withdraw $32.4 million from the Giants’ salary cap, limiting their ability to improve the roster in free agency. 

The Giants are expected to have around $50 million in cap space, a figure that would drop to $18 million if Jones is tagged.

The Giants want to put together a five-year deal and know that their $35 million-a-year target is not going to happen. 

It is not believed they will pay the Jones $40 million a year and so a compromise will need to be worked out.

Schoen met with Jones’ agents at Athletes First in person here at the NFL scouting combine on Monday, Tuesday and Wednesday and said contract talks will continue on Thursday.

“We’ll continue to talk and see if we can get something done before Tuesday,” Schoen said.

If the Giants have to put the tag on Jones, 25, it could prevent the team from having the cap space to re-sign running back Saquon Barkley — one of Jones’ closest friends on the team. 

If Jones agrees to a deal, the Giants could put the tag on Barkley, which would pay him $10.1 million this season, if a long-term deal is not finalized by Tuesday.

“It’s got to be right for both parties,” Schoen said earlier in the week. “I say it all the time, if-then scenarios, we’re going through those. If it gets out of hand and it’s out of our comfort zone we have the tag, we can only tag one player, we’ll use that. If someone’s got to walk then that’s unfortunate but that’s a part of the business. We’re still building a team, that’s important to keep in mind.”