The Giants have until July 17 to reach an extension agreement with Saquon Barkley. Otherwise, the Pro Bowl running back would be forced to play the season on the franchise tag. While acrimony has come out during this process, Barkley is still in talks with the Giants, according to Ian Rapoport of NFL.com.

Barkley turned down multiple proposals from the Giants, one of which in the $13MM-per-year neighborhood. The former Offensive Rookie of the Year has expressed frustration about the leaks from the team’s side during the talks, and the Giants’ previous top offer — which was taken off the table after team applied the tag in March — is not believed to have been favorable on the guarantee side.

Offer No. 1 came during the Giants’ bye week last season, and it was believed to be north of $12MM per year. But Barkley and the Giants did not come close to a deal at that point. The second proposal came this offseason, when the Giants attempted to keep both Barkley and Daniel Jones off the market. They succeeded, extending the fifth-year quarterback minutes before the franchise tag deadline. The third phase of discussions began shortly after the draft, per the New York Post’s Ryan Dunleavy (Twitter link). Since the Barkley tag, however, not much has come out regarding terms.

The prospect of Barkley missing training camp — absent a long-term deal by the July extension date — has emerged, but Rapoport notes the Penn State product should not be expected to follow in Le’Veon Bell‘s footsteps by skipping the season. While Barkley responded in the affirmative when asked if this strategy was in play, the sixth-year back passing on a $10.9MM guaranteed salary has never been a likely scenario.

While the Giants pulling their offer to Barkley suggested these negotiations could take a bad turn, Rapoport adds a deal should not be considered out of the question. The 26-year-old back is the team’s most popular player, and few running backs are as important to their respective franchises. That said, Barkley went through three injury-plagued seasons prior to a breakthrough contract year.

The Giants being hesitant to provide a substantial guarantee is understandable, and the running back market losing two top contracts (Ezekiel Elliott, Dalvin Cook) this offseason while seeing the other free agent backs struggle did not help the tagged contingent (Barkley, Josh Jacobs, Tony Pollard). Jacobs has expressed disappointment with his time on the tag as well.

The Giants have used their franchise tag seven times since the tag’s 1993 inception and have never failed to hammer out an extension, though two players did play on the tag before being re-signed following a second tag. The team reached an agreement with tackle Jumbo Elliott in 1993 and extended punter Steve Weatherford in 2012. Both Jason Pierre-Paul and Leonard Williams were tagged twice; each signed an extension following the second tag (in 2017 and 2021, respectively).

Barkley bucking that trend would certainly be a notable development for the team, which has also given a big-money deal to Dexter Lawrence this offseason. But if the Giants do not submit an offer with at least $22.2MM guaranteed — which would cover a second Barkley tag in 2024 — it will put the dynamic back to a tough decision.

The Giants now have less than a month to hammer out an extension with Saquon Barkley. With the Giants having pulled their offer and Barkley having expressed frustration at the leaks coming from the team’s side, this process has traversed a rocky path for a while.

Barkley remains hopeful for a long-term deal, noting the time still remaining between now and this year’s deadline for franchise-tagged players to sign extensions (July 17), but word out of Giants headquarters is they would be content letting their two-time Pro Bowl back play this season on the $10.9MM tag. While it will be interesting to see which side blinks, Barkley looks to be making preparations in the event no deal comes together.

Franchise-tagged players are not subject to fines for missing training camp, and ESPN.com’s Jeremy Fowler said during a recent SportsCenter appearance (h/t Bleacher Report’s Mike Chiari) Barkley is “a real threat” to skip camp. This tactic would be both aimed at avoiding the extra work come July and August, while penalizing the Giants — via services withheld — for not completing a deal by the deadline.

When the Steelers tagged Le’Veon Bell the first time (2017), he skipped training camp and reported September 1. Bell did start the season slowly, by his standards at the time, but finished with his second first-team All-Pro honor. No backs received the tag from 2019-22, leaving Barkley and Josh Jacobs as the only candidates to skip camp free of penalty since Bell. (Tony Pollard signed his Cowboys tender in March.)

What Bell did the following year generated far more attention. Barkley has referenced skipping the season, as Bell did in 2018 in protest of being tagged a second time, as a viable option. Bell has since expressed regret for doing this. Although Bell prevented a major injury affecting his 2019 market (when he scored $27MM fully guaranteed from the Jets), he missed out on $14.5MM by not signing his franchise tender. Bell is the only player to skip a season on the tag since the 1990s, when defensive linemen Sean Gilbert (1997) and Dan Williams (1998) did so. The salaries they passed on paled in comparison Bell’s, and the ex-Steeler great remains the poster boy for this rare course of action.

Barkley should not be considered likely to take this route, though he is in a better financial position than Bell was in 2018 or his 2023 tagged RB peers are. Barkley being chosen second overall locked in $31.2MM. The Giants exercised his fifth-year option ($7.2MM), putting the former Offensive Rookie of the Year near $40MM in career earnings. If a back were to try the Bell move, Barkley is positioned as well as anyone has been since the 2011 CBA reshaped rookie contracts. Taking this route would mean punting on $10.9MM and skipping an age-26 season. Seeing as Barkley’s prime is unlikely to last too much longer, this will be a valuable year.

The Giants are not introducing a new offense, with OC/play-caller Mike Kafka not being hired in this year’s cycle. The prospect of missing their starting back during camp and the preseason would not be especially damaging, with the looming threat of missed game checks hanging over Barkley in the event he tries to extend his absence into the regular season. That said, Barkley remains New York’s top skill-position player and occupies that role for a team without a top-flight quarterback. The Giants are thin behind Barkley, rostering Matt Breida, Gary Brightwell and fifth-round rookie Eric Gray. They could also bring in a veteran insurance option. A number of accomplished backs remain unsigned, but signing a starter-caliber veteran after failing to come to terms with Barkley by July 17 also runs the risk of Joe Schoen and Co. alienating the locker room.

Guarantees remain a key issue in this Giants-Barkley standoff, and while deadlines spur action, the low tag price and this year’s running back market not taking off did not do anything to convince the team to put its $13MM-AAV offer back on the table. This keeps Barkley in a tough spot at a pivotal career point. These negotiations continue to represent a prime storyline during an offseason in which the running back position has absorbed some significant blows.

The franchise tag deadline annually produces a run of headlines before the pivotal July date. This year’s lead tag story will be Saquon Barkley‘s status with the Giants. After expressing frustration with being tagged, Barkley has until July 17 to sign a long-term extension. No deal by that date tables any negotiations until 2024.

New York pulled its top proposal to Barkley after tagging him in March. That offer was said to be worth in the $13MM-per-year neighborhood. The Giants have not put that $13MM-AAV term back on the table, the New York Daily News’ Pat Leonard notes.

Regarding the two known offers the Giants have made — one north of $12MM on average from November and the $13MM-AAV proposal from earlier this year — Leonard adds these were not high on guarantees. Indicating he would not sign his franchise tender this week, Barkley voiced frustration about the leaks from the Giants’ side regarding the offers he rejected.

Barkley’s guarantee baseline may be in the $22MM range, ESPN’s Jordan Raanan notes, as it would match the cost of playing on the tag this year and being re-tagged in 2024 (video link). Only two veteran backs — Christian McCaffrey ($30.1MM) and Derrick Henry ($25.5MM) — are attached to deals including more than $18MM fully guaranteed. Barkley’s initial NFL contract — from his No. 2 draft slot — once stood atop the position for guaranteed cash ($31.2MM). While Barkley has made nearly $40MM thanks to that deal and his 2022 fifth-year option, he does not have too many more prime seasons to parlay into a multiyear guarantee.

The Giants are believed to be OK with Barkley playing on the tag, despite the $10.9MM cap hold. Barkley, 26, joined Josh Jacobs and Tony Pollard in being cuffed this year. That took the top three backs off the market, but a host of starter-level backs still hit free agency. The buyer’s market, as expected, produced a host of mid- and low-level contracts. Barkley argued this year’s running back market — which saw Miles Sanders‘ $6.4MM-per-year Panthers deal (11th in RB AAV) lead the way — is not a true reflection of the position’s value, since the franchise-tagged heavy hitters would have commanded more.

“I think the biggest thing is being patient, being open to listen and understanding what the market is,” Giants assistant GM Brandon Brown said, via NJ.com’s Bob Brookover. “The market surplus and scarcity dictates a lot on how you make decisions and also being able to agree to disagree at times and being able to get back to the table.”

Said surplus now includes Dalvin Cook, whom the Vikings finally cut last week. It remains highly unlikely the Giants would rescind Barkley’s tag to sign Cook, as that would go over poorly in the locker room given the former’s contributions to last year’s playoff-bound team. Barkley bounced back from three injury-plagued seasons to lead a Giants team low on reliable pass catchers to the postseason.

Giants hesitation regarding a top-flight guarantee is also understandable, with Barkley having suffered a high ankle sprain in 2019, an ACL tear in 2020 and another ankle injury in 2021. Barkley missed 21 games during that span. Barkley acknowledged his injury past when he said in January he was not asking to set the market at running back, but while this position’s value continues to dip across the NFL, the Giants are preparing to build around a quarterback (Daniel Jones) who submitted uneven rookie-contract work. Barkley remains a pivotal part of this plan.

As of late May, no deal was close. The team, however, came to terms with Jones minutes before the March franchise tag deadline, allowing for the Barkley tag. Negotiations with tagged players regularly run up to the July extension deadline.

“I think they’re open to talking,” Barkley said. “I’m open to talking. I think at the end of the day, if you really break it down and look at it as a whole, there is no rush. There is still time on the table to get to July 17. July 17 is not tomorrow. Maybe that is the naïve way to look at it. I could be completely wrong. But for me, that’s how I look at it. I trust in the Giants that we could get something done.”

Although Barkley has banked far more than Le’Veon Bell did when he sat out the 2018 season in protest of the tag, Fox Sports’ Ralph Vacchiano notes the Giants are not concerned he will follow the ex-Steeler’s lead by skipping a season. That would cost him the $10.9MM tag salary and his age-26 season. It is not expected the Giants will raise their offer from March, but it will be interesting to see how the guarantees look in Big Blue’s final proposal before next month’s deadline.

Not much has taken place between the Giants and Saquon Barkley since the draft. The franchise-tagged running back has until July 17 to come to an agreement on a multi-year extension.

Doing so would lock in the Giants’ most productive offensive player from last season, but the risks of a big-ticket contract compared to the $10.1MM franchise tag are something the team has been weighing all offseason. Their top offer to date has been worth roughly $13MM per season, a figure which would rank third in the league amongst running backs.

However, New York pulled that offer, and it remains very much in doubt whether they will be willing to submit one of similar value given the position’s current landscape. The free agent market saw several short-term, low-cost contracts handed out to the running backs who weren’t tagged, hurting Barkley’s leverage if he were aiming to cite the overall marketplace during negotiations. His importance to the Giants, though, remains unquestionable.

The 26-year-old ran for a career-high 1,312 yards in 2022, a year in which he was able to remain healthy. Barkley was the focal point of New York’s offense en route to their surprising success, and should once again carry a heavy workload in 2023 despite the team’s investments in quarterback Daniel Jones and an improved group of pass-catchers. However, Barkley talks are not currently being addressed with much urgency.

Ryan Dunleavy of the New York Post notes that the parties remain “no closer than ever” with respect to hammering out a new deal. Perhaps the top sticking point in this situation, he adds, is the matter of guarantees. No hard figures in that regard have emerged to date on any of the Giants’ offers, nor the degree to which they fall short of what the Penn State alum might be seeking.

Playing on the tag this year and next would see Barkley earn $22.2MM; franchise tags are fully guranteed. That figure thus represents a logical baseline for guarantees in any hypothetical, multi-year extension. Only two backs – Christian McCaffrey and Derrick Henry – received more than $22MM in total guarantees on their current deals, so making such a commitment (albeit likely in the first two or three years of a longer contract) would be quite signficant on the Giants’ part.

Plenty of time still remains until the deadline for Barkley to either agree to a new offer or sign his tag. With no active dialogue taking place, though, plenty of progress will need to be made in the coming weeks to sort out his future beyond 2023.

Saquon Barkley should not be expected back with the Giants anytime soon. The franchise-tagged running back has engaged in off-and-on extension talks with the Giants since November, but the team hammered out a Daniel Jones deal prior to the tag deadline.

The Giants using the tag on Barkley with minutes to spare before last month’s deadline allowed them to retain both their quarterback and running back, but the player without the long-term contract should now be expected to stay away. Although Barkley’s $10.1MM tag salary will be locked in when he signs the tender, Newsday’s Kim Jones notes the Pro Bowl running back will not do so ahead of the team’s offseason program (Twitter link).

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Brian Daboll‘s team will convene Monday for the start of offseason workouts. Players cannot be fined for missing this stage of the offseason, though teams generally have good attendance for the non-mandatory portion of spring work. Minicamp represents the first point in which players would incur fines by not attending. Until Barkley signs his tender, he can steer clear of minicamp free of fines. It would certainly not surprise if the sixth-year back follows that path.

Franchise-tagged players regularly wait on signing their tenders, though Tony Pollard signed his $10.1MM Cowboys tag last month. Pollard can be fined for not attending Dallas’ minicamp. Barkley, Josh Jacobs, Evan Engram and Lamar Jackson are exempt from fines. The Commanders already agreed to an extension with Daron Payne, removing the sixth-year defensive tackle from the tag contingent.

The Giants offered Barkley a deal in the $12.5MM-per-year neighborhood last season and upped it to the $13MM-AAV range this offseason. While Barkley holding out for a deal on the Christian McCaffrey–Alvin Kamara deal makes sense, seeing as those contracts were agreed to back in 2020 on a lower salary cap, this year’s running back market did not do him any favors. None of this year’s free agents signed a deal that ranked in the top 10 at the position. Barkley is better than the backs who hit the market this year, but the Giants should not be considered likely to raise Barkley’s offer by much more — if at all — ahead of the July 17 deadline for tagged players to sign extensions.

It does not sound like too much urgency exists on the team’s part, with ESPN.com’s Jordan Raanan noting (via Twitter) the Giants are not overly motivated to reach an agreement right now. The Giants pulled the $13MM-AAV offer after franchise-tagging the former Offensive Rookie of the Year. Barkley, 26, attended player-organized workouts with teammates last week in Arizona, The Athletic’s Dan Duggan tweets. By not signing his tender, the injury-prone back does run the risk of seeing an injury lead to the Giants rescinding the tag. But Barkley may be attempting to stay away as a last-ditch leverage play. Though, his leverage is limited.

Seeing Barkley’s cap number reduced would benefit the Giants, however, as they have Dexter Lawrence entering a contract year as well. The Giants’ $2.3MM in cap space ranks 30th in mid-April. They will need more to sign draft choices, though restructures can help on that end as well. The team also has Leonard Williams tied to a whopping $32.3MM cap number, which can be reduced via an extension. Big Blue, which was eyeing an incentive-laden deal with now-Ravens wideout Odell Beckham Jr., will be set to carry the Barkley and Williams cap numbers to start its offseason program.