New York Giants News & Rumors

Today marks the deadline for franchise tag recipients to sign multi-year deals and avoid playing on the one-year tag for the 2023 season. That leaves only a few hours for the Giants and running back Saquon Barkley to come to an agreement.

Ryan Dunleavy of the New York Post reports that the sides are expected to conduct further negotiations ahead of the 3pm central deadline (Twitter link). He adds that periods of contract talks have been few and far between in recent weeks, as New York has remained firm at its price point while the 26-year-old has attempted to use his limited leverage to achieve a larger guarantee than the $22MM he would earn on consecutive franchise tags.

With plenty of ground left to cover in a matter of hours, ESPN’s Jordan Raanan tweets that neither party is optimistic a deal will be reached today. That sentiment is echoed by Jonathan Jones of CBS Sports (via Twitter), who adds that a contract for Barkley, Josh Jacobs of the Raiders or Cowboys‘ back Tony Pollard would come as a surprise at this point. Only Pollard has signed his $10.1MM franchise tag as of now.

As a result, both Barkley and Jacobs would not be obligated to attend their respective training camps if they exited today without a long-term deal in hand. Both backs have been named as a candidate to sit out during Week 1, though the prospect of choosing to miss out on game checks would make such a scenario an unlikely one. Playing on the tag in 2023 would be an unwanted consolation for both players looking to reverse a downward trend in the running back market, something highlighted this offseason in particular.

To date, the highest guarantee figure Giants have been willing to offer is $19.5MM, but that appears to have recently changed. Dunleavy tweets that New York has submitted an offer “in the ballpark” of $22MM in terms of guarantees, but with a decreased annual average value compared to the one including $19.5MM. General manager Joe Schoen has shown a willingness to change the team’s position as circumstances shift. After their last-minute deal was worked out with quarterback Daniel Jones in March, the Giants withdrew the standing offer which was in place for Barkley, allowing them to apply the franchise tag. How far the team decides to go in terms of length, AAV and guarantees will be worth watching closely, especially as it relates to negotiations between Jacobs and the Raiders.

Barkley enjoyed a career year on the ground in 2022 (1,312 rushing yards), serving as the focal point of New York’s offense. The past campaign was only his second one spent at full health, however, and the team has Jones on the books through 2026 and a modified pass-catching corps led by tight end Darren Waller in place to help him take what they hope will be a notable step forward this season. The degree to which Barkley fits into the Giants’ intermediate- and long-term plans will be determined soon.

Unsurprisingly, guaranteed money has been perhaps the central issue in the Giants’ long-running negotiations with Saquon Barkley. Some numbers have come out regarding the guarantee proposal Thursday.

The Giants are believed to have offered Barkley $19.5MM guaranteed, while the New York Post’s Paul Schwartz indicates the current average annual salary term sits at around $13MM. That number hovers near where the Giants were before withdrawing their offer upon franchise-tagging Barkley in March. Big Blue’s winter proposal was believed to include $26MM over the first two years, but it is clear not all of it was guaranteed. The sides have until 3pm Monday to strike a deal. No extension agreement by then would mean Barkley is tied to the $10.1MM RB tag figure this season.

[RELATED: Barkley To Consider Skipping Week 1 If No Deal Reached]

It has long seemed the Barkley guarantee floor is $22.2MM, the cost of two franchise tags, but that number might not be enough to cross the finish line here. Barkley’s guarantee aim likely comes in a bit higher than the two-tag number, Fox Sports’ Ralph Vacchiano tweets. It should not be too surprising the two-time Pro Bowl running back would want more money locked in, seeing as the top two RB guarantees — for Derrick Henry and Christian McCaffrey — came on deals signed in 2020.

A bit of a difference exists between total guarantees and fully guaranteed money. In terms of guarantees that cover skill and injury, two backs — McCaffrey and Alvin Kamara — signed for more than $34MM apiece. Two other veterans — Henry and Nick Chubb — secured $20MM-plus guaranteed in total.

In terms of fully guaranteed cash, the only veteran deals north of $18MM went to McCaffrey ($30.1MM) and Henry ($25.5MM). Those agreements were finalized in April and July of 2020, respectively. Seeing as the salary cap has jumped by $26MM since then (and is expected to make another big leap in 2024), Barkley seeking that kind of security is not exactly out of step, though Schwartz adds a guarantee in the $22-23MM range will likely move Barkley to sign (video link).

The guarantee component is also interesting because Barkley has already played out a contract that contained more fully guaranteed dough than McCaffrey’s deal. Being drafted at No. 2 overall, Barkley enjoyed the luxury of his entire rookie contract (four years, $31.2MM) being guaranteed. With the Giants currently at $19.5MM on the guarantee front, it does not seem like Barkley will move the number past his rookie pact. But it is notable the sides have already ventured into that territory due to rookie slot money.

Barkley’s injury past has undoubtedly influenced the team’s guarantee figure. In addition to the ACL tear the New Jersey native suffered in September 2020, he sustained a high ankle sprain in 2019 and dealt with more ankle trouble in 2021. But the 26-year-old back rebounded with a healthy 2021 season, suiting up for 18 of the Giants’ 19 games (Brian Daboll rested him in Week 18). Barkley showed enough for the team — which discussed him in trades barely a year ago — to bring out its franchise tag. But time is running out for the sides to make a deal.

The Giants have been here before and come out with a resolution. No deal between the Giants and Daniel Jones was considered imminent two days before the March deadline for teams to tag players. Jones’ AAV ask was at $47MM at one point during the talks; the Giants hammered out a four-year, $160MM contract minutes before the March 7 deadline, allowing them to keep their quarterback off the market and tag their running back. The stakes are higher for Barkley, whose career will almost definitely not last as long as Jones’. This window represents an important opportunity for the sixth-year back to tack on another nice contract before his prime ends.

Considering the string of blows the running back position has absorbed this offseason, the Barkley-Giants talks — as well as the less publicized discussions between the Raiders and Josh Jacobs and Cowboys and Tony Pollard — double as critical for the market as a whole. As the Jones negotiations showed, however, a lot can happen in the final days before a deadline.

JULY 13: An interesting twist to the Barkley negotiations has emerged. Ed Berry of CAA, who has long been involved in marketing for Barkley, is now involved in contract talks. Florio reports that Berry was added to the franchise-tagged star’s camp last month to provide an extra voice in negotiations. As a result, Barkley is now represented by both CAA and Roc Nation (in the form of Kim Miale) as talks are nearing the deadline-imposed finish line.

Meanwhile, Ryan Dunleavy of the New York Post reports that the Giants’ best offer to date included $19.5MM in guaranteed money (Twitter link). Consecutive franchise tags would equate to $22.2M in guaranteed money, so it comes as little surprise that Barkley would turn down such a proposal.

JULY 12: In one of the more eventful stretches for a team and the franchise tag in recent NFL history, the Giants have until 3pm CT Monday to extend Saquon Barkley. As the deadline nears, this situation reminds of their point-of-no-return situation with Barkley and Daniel Jones in March.

Prior to that point, the Giants had made a second offer to Barkley — a deal worth more than $13MM per year. The five-year veteran declined the proposal, with Mike Florio of Pro Football Talk noting the talented running back sought a contract in the $16MM-per-year neighborhood. That would have matched Christian McCaffrey‘s position-record average, which has stood as the top running back contract since April 2020.

[RELATED: Jones’ Asking Price Reached $47MM Per Year]

The Giants informed Barkley that a declined offer would mean the proposal would be pulled if the team tagged him. The subsequent Jones agreement — a four-year, $160MM accord reached minutes before the March deadline for teams to apply franchise tags — led to the Giants following through with that plan/threat, tagging Barkley and withdrawing their best offer. While the parties have continued off-and-on negotiations during the spring and summer, they are believed to be at an impasse.

Earlier this offseason, a report suggested Barkley was pushing for a top-market contract. Barkley, however, said following the Giants’ divisional-round loss to the Eagles he was not looking to reset the market. Pushback has since come out regarding Wednesday afternoon’s report.

The Giants’ offer is believed to have included $26MM in the first two years, per Florio. Only two veteran backs (McCaffrey and Derrick Henry) are tied to guarantees north of $20MM. It does not seem like all $26MM in Barkley’s offer was locked in, with insufficient guarantees being an issue for the running back’s camp. Indeed, the New York Post’s Ryan Dunleavy notes the offer did not include $26MM guaranteed. Barkley also disputes this report (Twitter links). A $16MM-AAV ask never seemed realistic to the standout back, Jordan Raanan adds (on Twitter).

Even if Barkley is angling for McCaffrey-level money, a case exists for it. However, that case was stronger before the carnage at the running back position this offseason. On one hand, the salary cap has climbed since McCaffrey’s four-year, $64MM Panthers extension; the cap stood at $198.2MM at that point. Despite the COVID-19 pandemic reducing the salary ceiling in 2021, it has rebounded to $224.8MM this year. OverTheCap lists $256MM as the projected 2024 ceiling. The cap spiking by $32MM between 2023 and ’24 will lead to position-record deals; will a team be willing to authorize one at running back?

Since Barkley was first connected to $16MM-AAV territory, two of the top four RB contracts (for Ezekiel Elliott and Dalvin Cook) have been shed. The Packers and Aaron Jones agreed to a pay cut that provided more 2023 guarantees; the Bengals have been connected to asking Joe Mixon to accept a trim. No free agent back signed for more than $6.35MM per year, and Austin Ekeler‘s trade request — which came about because he is tied to a Chargers-friendly extension ($6.13MM per annum) — did not spark much interest. During a mostly uninterrupted period of the league devaluing running backs, 2023 has brought a widespread bloodbath.

Then again, free agency was not a true representation of the RB market, since the three tagged backs — Barkley, Josh Jacobs and Tony Pollard — were not available. Barkley, 26, also means more to the Giants than most backs do to their respective teams, seeing as Big Blue recently extended a middling quarterback and has question marks at wide receiver and tight end. It will be interesting to see what other terms are thrown around before Monday’s deadline. Given the frequency of Barkley-related updates this offseason, it seems likely we will find out the particulars.

Five days out from the franchise tag extension deadline, three players — Saquon Barkley, Evan Engram and Josh Jacobs — have not signed their tenders. If no extensions are reached by Monday’s 3pm CT deadline, the trio will not be obligated to report to training camp.

After Jacobs has been connected to rumors of potentially sitting out the Raiders’ regular-season opener, Barkley has now been mentioned as having a chance to stay away from the Giants once the season starts. Barkley’s Week 1 availability against the Cowboys would be “in serious question” if no extension is agreed to, Dianna Russini of ESPN.com tweets.

[RELATED: Examining Remaining Franchise Tag Situations]

This course of action would cost Barkley a game check, but the former No. 2 overall pick is in a unique position compared to other backs who have been tagged. Whereas Jacobs collected his four-year rookie-deal salary as a No. 24 overall pick and Pollard played four Dallas seasons on a fourth-round contract, Barkley earned more than $31MM over his first four years due to his draft slot. The Penn State product then added $7.2MM on the fifth-year option last season, bringing his career earnings close to $40MM.

Barkley missing Week 1 would cost him $560K, and his NFL earnings to date offer him some protection. Barkley, 26, has also said taking the Le’Veon Bell route — skipping a season in protest of the tag — is a consideration. This would be a highly unlikely scenario, however, as it would mean punting on $10.1MM fully guaranteed. Only Bell has gone through with radical route this century. A threat of missing Week 1 will be used as leverage as well, as Barkley is obviously a central component in the Giants’ offense, ahead of Monday’s deadline. Barkley has already been connected to skipping training camp, as Bell did during the first year the Steelers tagged him.

For now, Barkley and the Giants remain at a stalemate, Russini adds (on Twitter). The Giants came through with a resolution at the previous tag deadline, extending Daniel Jones on a four-year, $160MM deal and then tagging Barkley in March. Upon unholstering the tag, the Giants withdrew their extension offer to the sixth-year running back. The team had offered the two-time Pro Bowler more than $12MM on average during November 2022 negotiations and upped the proposal to beyond $13MM AAV earlier this year. Neither offer, however, was believed to have high-end guarantees. Guaranteed money remains a sticking point here.

Last week, some optimism was believed to exist regarding an extension. Ownership remains behind Barkley, and it will be interesting to see if that impacts a final push for a deal. While running back value has taken another dip this year, the Giants are one of the NFL’s more RB-reliant teams. Jones and a low-end pass-catching cast relied on Barkley last season, and the former Offensive Rookie of the Year rebounded from an injury-plagued stretch to lead the team to the playoffs. The Giants have made some skill-position upgrades this offseason. But both their receiving and tight end additions come with questions. Darren Waller has encountered considerable injury trouble over the past two years, and none of Big Blue’s wideout acquisitions will be viewed as a No. 1-caliber target this season. Third-rounder Jalin Hyatt is not expected to be a Week 1 starter.

With the salary cap expected to spike again in 2024, it is interesting teams have cut costs further at running back this year. Christian McCaffrey‘s $16MM-per-year deal has topped this position group since April 2020, and neither Barkley nor Jacobs appears a candidate to take that down. The Giants will also need to decide whether to give Barkley a deal that includes more than $22MM guaranteed, which would cover the cost of a 2024 franchise tag. McCaffrey, Derrick Henry and Bijan Robinson are the only backs attached to more than $18MM guaranteed.