The Giants will apply the non-exclusive franchise tag to Jason Pierre-Paul, according to Mike Florio of Pro Football Talk (on Twitter). Unless the two sides work out a new deal between now and July, JPP will play out 2017 on a one-year, $16.955MM contract. The transaction was not formally processed before the end of business on Monday, but the Giants have informed him of their decision. 
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The G-Men will work “aggressively” to lock Pierre-Paul up beyond 2017, Josina Anderson of ESPN.com (on Twitter) hears. The Giants have about $31.5MM in cap space before factoring in the tag and they can preserve a good chunk of that by smoothing out JPP’s cap hit on a multi-year deal. Ideally, the Giants would like to retain their defensive core, which means brand new deals for JPP and defensive tackle Johnathan Hankins.
Had JPP reached the open market, he would have stood as one of the best free agent edge defenders in this year’s class. Now that he and Jones have been franchise tagged and Melvin Ingram probably isn’t far behind, Packers standout Nick Perry probably has to be considered the best of the bunch. Perry, 27 in April, will be heavily targeted by 3-4 teams looking to boost their pass rush.
This is a wise move for the Giants…. If a realistic deal isn’t done they could move him for draft picks…..???
Lol. A pick. Like A 6th rounder maybe.
Not a real fan of this move. Yes, I want to keep JPP but so quickly putting the franchise tag on him rather than the franchise/transition tag. That tag would have let the Giants see what the market was for JPP and not overpaying for him, and if the market was too much receiving 2 number ones in return would restock the loss. Also it would let them have enough cap space to resign Hankins, who along with Harrison formed a great run stopping duo. The $17 million cap space out of $31million, won’t leave them much to fill the positions of need; TE, OT, OG, big WR.
Everyone thinks this is the prelude to a long term contract that will reduce his overall yearly cap number, but there is no guarantee of that happening, and JPP has long stated he wanted to see what his value is on the open market. Who’s to say he won’t play out the year for the tag then go to free agency next year, with the Giants unable to franchise him again (players have a limit of being franchised 2X).
But wasn’t he only franchised one time? Last year he was just signed to a one year $10 mil deal because of the fireworks incident.
Reese better get this right….. or it could backfire
Yes once for the 2015 season and now for the second time for the 2017 season, twice. So they cannot franchise him again. Meaning if he doesn’t sign a long term deal with the Giants he can walk away in 2018 for nothing. Yes Giants51, a big gamble.
That’s why the transition tag would have ensured either he stays or we get 2 first round choices from the team who signs him. And believe me someone will overpay for him.