New York Giants News & Rumors

Just less than five weeks remain until the deadline for teams to apply franchise tags. The Giants have until 3pm CT on March 7 to use their tag, and barring an unlikely scenario in which both Daniel Jones and Saquon Barkley are extended before that point, one of the team’s offensive cornerstones will be tagged.

Joe Schoen has been clear the team plans to retain Jones, and while the second-year GM did not waver from that stance this week at the Senior Bowl, he indicated conversations have not yet begun with the team’s four-year starting quarterback. Schoen, however, confirmed (via the New York Post’s Paul Schwartz) the Giants have resumed extension talks with Barkley. Schoen said he held discussions with Barkley’s camp this week and will continue to do so upon returning to New York next week.

The team prioritized Barkley in talks during its November bye week, but Schoen has since indicated the sides did not come close to a deal at that point. The Giants did submit an offer — roughly $12.5MM per year — and Schwartz notes the extension proposal is believed to be for three years. Barkley’s camp turned it down, seeking a contract closer to the running back ceiling. Though, Barkley said last month he was not looking to reset the running back market. Considering Barkley’s value to the Giants and Christian McCaffrey‘s market-topping pact ($16MM AAV) being signed in April 2020, Barkley pushing for a comparable deal makes sense. But the Giants do not appear inclined to go that high.

The Giants should not be expected to move much further north of the $12.5MM-range offer, Schwartz adds, but the prospect of a Barkley tag is cloudy. The Giants will not want a $10.1MM running back cap number on its payroll, per Schwartz, but ESPN.com’s Jordan Raanan notes the team would prefer to knock a Jones contract out and save the tag for Barkley. The latter course here would be the best way for the Giants to manage their funds while ensuring both Jones and Barkley return. A Jones tag would cost $32.42MM, thus comprising much of Big Blue’s cap space.

Maligned for years, Jones is now the team’s priority. He will be set to become the first quarterback in the fifth-year option era to re-sign with a team — via a long-term deal or the tag — after it declined his option. The Giants could have pushed Jones’ rookie contract out to 2023 by exercising the $22.4MM option. Instead, they are likely looking at a deal beyond the $30MM-per-year point. The Giants should be expected to value Jones in the $35MM-per-year range, via Schwartz. Although Jones’ late-season value rise can be partially attributed to the Vikings’ woeful defense, the Giants have turned around on the Dave Gettleman-era draftee.

“We want Daniel back,” Schoen said. “We haven’t started conversations with his people yet. Once we get into it in terms of years, contract structure, finances, I’m not really sure where they’re gonna be, what they’re asking for, we’re still working on where we’d want to start so until we get into the actual negotiations I really won’t have a good sense for years, money.”

Barkley is certainly better at his position than Jones is at his, but quarterback value obviously dwarfs the importance of backfield stalwarts. The Giants also have other needs, including potentially multiple wide receiver additions. The draft will be an avenue for New York here, but Fox Sports’ Jay Glazer expects the team to pursue wideouts in free agency (video link).

Darius Slayton‘s contract expires in March, and while the Giants have exclusive negotiating rights with the former fifth-round pick, the new regime figures to also explore the market. This free agency class does not profile as a particularly enticing receiver lot, but complementary-type targets will be available. Jakobi Meyers, DJ Chark, Allen Lazard and JuJu Smith-Schuster represent the top contingent of mid-20-somethings on track for free agency. Parris Campbell brings an extensive injury history, but the ex-Colts second-rounder surpassed 600 receiving yards for a bad offense this season.

Monitoring a Giants-Odell Beckham Jr. pursuit will be necessary as well. Beckham made his initial NFL team his first visit in December, and though the OBJ sweepstakes did not produce a deal, the Cowboys and Rams are likely to dive back into this market. Beckham turned 30 in November and missed the season, but he remains close to ex-Giants teammates Barkley and Sterling Shepard (the latter is also a UFA-to-be). The Giants passed on adding receivers via trade before the deadline, but despite Isaiah Hodgins‘ stretch-run production, this remains a glaring need. The team also has second-round pick Wan’Dale Robinson rehabbing an ACL tear.

The Giants’ situation with two of this year’s top free agents may be evolving. After the team held Saquon Barkley negotiations during its bye week and did not discuss a deal with Daniel Jones, the two offensive pillars may have flipped in priority.

Second-year GM Joe Schoen was more declarative regarding a desire to retain Jones than Barkley, citing positional value. Despite Barkley’s two Pro Bowls, retaining Jones looks to be Big Blue’s top task.

“We’d like Daniel to be here. He said it [Sunday]; there is a business side to it. But we feel like Daniel played well this season,” Schoen said, via ESPN.com’s Jordan Raanan. “He’s done everything we’ve asked him to. … We would like to have Daniel Jones back.

“We’re happy Daniel is going to be here. Hopefully we can get something done with his representatives. That would be the goal, to build a team around him where he could lead us to win a Super Bowl. It takes two. Both sides are going to have that conversation,” Schoen said. “We haven’t crossed that bridge yet. There are tools at our disposal.”

Jones, 25, enhanced his value considerably this season by piloting the Giants to their first playoff win in 11 years. A Jones agreement will make a bit of transactions history. No quarterback whose team passed on his fifth-year option — which the Giants did in May 2022 — has re-signed with that franchise. It is certainly looking like Jones will be back, and Schoen’s comments point to the four-year quarterback starter being the potential tag candidate over the former Offensive Rookie of the Year.

Schoen mentioning the tools at the team’s disposal comes nearly three months after he floated the franchise tag as a weapon to retain Barkley. The running back tag is expected to come in at around $10MM, while the nonexclusive quarterback tag is projected to check in at approximately $32MM. Tagging Jones, who fared well in the Giants’ wild-card win before struggling against the Eagles, would take a significant bite into the Giants’ free agency dollars.

The Giants are projected to hold just less than $55MM in cap space — third-most in the league. A Barkley tag, conversely, would allow for increased flexibility without venturing to restructures. Barkley’s bounce-back season notwithstanding, the Giants could be prepared to let him test free agency. The team also has Dexter Lawrence on track to land a deal likely north of $20MM per year, which likely factors into their Barkley plans as well.

“Listen, Saquon’s done everything we’ve asked him to do and he’s a good football player,” Schoen said. “Again, the positional value, we’ll get into how we want to build this team and allocate our resources. That is what it comes down to. Again, he’s a good football player. He was durable for this year. He played well and, again, he’s a guy we would like to have back.”

Barkley, 25, said Sunday he was not pushing to reset the running back market. Doing so would not be an entirely unreasonable ask, given Barkley’s value to the Giants and Christian McCaffrey‘s $16MM-per-year deal having been signed nearly three years ago. But Barkley turned down a deal in the $12MM-AAV range in November. Schoen confirmed a midseason report indicating the sides were not close on terms, and Fox Sports’ Ralph Vacchiano notes (via Twitter) Barkley’s ask is in the McCaffrey range.

With the tag still low for backs, Vacchiano adds the team is unlikely to move much higher than the $12MM range — effectively the running back second tier — ahead of free agency (Twitter link). This could create a fascinating market bid for Barkley, who would be one of the most talented backs to ever reach free agency. The five-year starter totaled 1,650 yards and 10 touchdowns in 16 games, recovering from the injuries that plagued him from 2019-21. Barkley mentioned his injury past when assessing his value, and while he wants to stay, he would be a coveted player come March.

However, this year’s running back market will be crowded. A glut of backs including most of the following contingent — Kareem Hunt, Miles Sanders, David Montgomery, Jamaal Williams, Devin Singletary Damien Harris — stands to be available. The Raiders and Cowboys have been mentioned as candidates to tag their top backs — Josh Jacobs and Tony Pollard — so it would be interesting to see these two valued via the tag and Barkley be allowed to talk with other teams. The Raiders and Cowboys, however, do not have their starting quarterback on an expiring contract. Jones’ solid season looks to have changed the Giants’ plans.

Tagging the quarterback and attempting to re-sign the running back is the opposite of how the Titans played their similar situation in 2020, when they cuffed Derrick Henry and re-signed Ryan Tannehill shortly before the market opened. The Giants are expected to talk with Jones until the new league year begins, per Raanan, who categorizes the quarterback as the team’s top priority. Teams have until March 7 to use their franchise tags.