Josh Jacobs was one of three NFL running backs assigned the franchise tag over the offseason. While Tony Pollard has already signed his tag with the Dallas Cowboys, Jacobs and New York Giants RB Saquon Barkley have not yet inked their tender. As Jacobs and the Las Vegas Raiders inch close to the franchise tag extension deadline, could the 25-year-old back hold out into the regular season?
Will Josh Jacobs Stage a Holdout in 2023?
Jacobs is scheduled to earn a fully guaranteed $10.1 million salary under the terms of the franchise tag. The Raiders have until July 17 to reach a long-term extension with Jacobs, and Vincent Bonsignore of the Las Vegas Review-Journal reported last week that both sides are motivated to work out a new deal.
If the Raiders don’t extend Jacobs by the deadline, he’ll be forced to play out the 2023 campaign on the one-year franchise tender.
Jacobs has not participated in any of Las Vegas’ offseason programs. But because he isn’t technically under contract, he’s not at risk of being fined. If Jacobs and the Raiders can’t come to an agreement over the next several weeks, how long could his holdout last?
“The one that nobody’s talking about is Josh Jacobs, the reigning NFL rushing champion,” NFL Network’s Tom Pelissero said on The Rich Eisen Show on Tuesday. “At this point, if there’s not a long-term deal, I don’t anticipate Josh Jacobs being there at the start of training camp, and I don’t know that he shows up in Week 1.”
It’s unclear what annual salary Jacobs might target on an extension, but the 2023 offseason has not been a banner few months for NFL running backs.
Veterans like Ezekiel Elliott and Dalvin Cook were released, while Aaron Jones was forced to take a pay cut to remain with the Packers. The Panthers’ Miles Sanders was the only free agent back to land a deal north of $6 million on the open market.
Only two running backs — Christian McCaffrey and Alvin Kamara — currently earn more than $15 million per year, while just three more (Derrick Henry, Nick Chubb, and Joe Mixon) are above $12 million.
Jacobs led the league with 1,653 rushing yards in 2022, earning a first-team All-Pro nod. Given that he’s made just $12 million during his NFL career, it’s perhaps no surprise that Jacob is aiming to cash in immediately.
Echoing the concerns voiced by Barkley and Colts running back Jonathan Taylor about the state of the running back market, Jacobs tweeted, “Sometimes it’s not about you. We gotta do it for the ones after us” on June 10 before simply stating, “Bad business” on June 20.
If Jacobs holds out into the regular season, his bottom line will be affected. He will lose 1/18th of his salary — roughly $561,000 — for each week he misses in 2023.
Could the Raiders Franchise Jacobs Again in 2024?
If Jacobs holds out for the entire season, he probably wouldn’t be in a better position during the 2024 offseason. Not only would Jacobs have forfeited his $10.1 million salary for the 2023 campaign, but the Raiders could theoretically franchise him again next spring.
Whether or not Las Vegas would be interested in deploying the tag again is an open question. If Jacobs doesn’t play in 2023, the relationship between the team and player may have become so acrimonious that the Raiders would move on.
However, if Vegas did want to use the franchise tender, the price tag could be debated. Typically, players franchised a second time are entitled to 120% of their previous year’s salary. In Jacobs’ case, that would amount to $12.1 million.
But the Raiders could argue that Jacobs wouldn’t qualify for a raise. After Le’Veon Bell sat out the 2018 season to protest his second consecutive franchise tag, the Steelers were considering assigning him the transition tag for 2019. According to ESPN’s Jeremy Fowler, Pittsburgh may have argued that the tag formula should have reset because Bell didn’t play the previous year.
In that case, the Steelers would have attempted to pay Bell the same salary he would have earned in 2018. (Pittsburgh ultimately declined to use any tender on Bell, who eventually signed with the Jets as a free agent.)
The Raiders could hypothetically make the same argument regarding Jacobs if he missed the 2023 season. However, the NFL Players Association would almost assuredly step in and fight Las Vegas on that decision, which would likely prompt arbitration.
Who Are the Raiders’ Other RB Options?
The Raiders drafted two running backs in 2022 — fourth-rounder Zamir White and seventh-rounder Brittain Brown — who would likely shoulder the workload if Jacobs decides to hold out next season. Bonsignore suggested earlier this week that Vegas will likely expand White and Brown’s role in 2023 even if Jacobs ultimately reports.
Cook is the highest-profile back on the open market and could potentially become an option for the Raiders. Vegas would likely rescind Jacobs’ franchise tag — making him a free agent — if they signed an option like Cook. However, the former Vikings’ asking price may currently be too high for the Raiders’ liking.
Veterans like Ezekiel Elliott, Leonard Fournette, and Darrell Henderson could also pique Vegas’ interest if Jacobs sits out the season. It seems likely that the Raiders would add at least one experienced player to their running back depth chart, given that White totaled only 70 yards from scrimmage during his rookie season while Brown was limited to special teams work.
