In March, the New York Giants designated RB Saquon Barkley as the team’s franchise player. However, the second overall pick from the 2018 NFL Draft will not sign his franchise tender, forcing him to miss the Giants’ offseason program. General Manager Joe Schoen joined NFL Network’s Good Morning Football Thursday, providing an update on where the organization and Barkley currently stand in contract negotiations.
Saquon Barkley Contract Rumors
The Giants team president and CEO, John Mara, declared his desire to have Barkley remain in New York. “My dream is that he plays his whole career as a Giant,” Mara said at the NFL’s Annual Owners Meeting. However, while Barkley would earn $10.1 million on the franchise tag, he wants a long-term deal at a better price.
The parties were not able to come to an agreement before the 2023 NFL Draft. Before the draft, Schoen said the franchise stepped back from negotiations after placing the tag and would reconvene after the Giants made their selections.
With the draft complete, Schoen doubled down on the Giants’ words on Good Morning Football, saying, “Over the next couple of days, we’ll have some conversations as to where we are, where they may be, and see if we can get something done.”
New York did draft Oklahoma RB Eric Gray in the fifth round of the 2023 NFL Draft, but that doesn’t seem nearly early enough to suggest the Giants were going to find Barkley’s replacement this offseason. With an RB room of Barkley, Matt Breida, Gray, and Gary Brightwell, New Yorks plan to have the former in the same role this season.
But getting something inked down past that is where the issue lies.
While no one denies Barkley’s talent or contributions to the team, he’s fighting against a trend of unfavorable running back contracts. Along with Barkley, both Raiders RB Josh Jacobs and Cowboys RB Tony Pollard were franchise tagged. Dallas went further and released Ezekiel Elliott, who had spent the past seven seasons as the face of the Cowboys’ backfield. Furthermore, Green Bay’s Aaron Jones restructured his contract to take his yearly salary down from $16 million to $11.5 million.
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Only two running backs make over $13 million per season: Christian McCaffrey and Alvin Kamara. While one could argue that Barkley adds the same value as a runner and receiver out of the backfield as McCaffrey and Kamara, New York has a roster to build. Any contract with numbers comparable to the top of the market would likely tie up over 25% of the Giants’ cap space between Barkley and QB Daniel Jones between 2024-2025. That’s not sustainable.
New York understands Barkley’s value. “Listen, Saquon is a very good football player, captain last year. He’s a good locker room guy. We want him here,” Schoen explained. “But you’ve got to have a deal where both parties are happy with where you end up.”
As much as the franchise loves what Barkley brings to the team, the rumored $14 million a year is a hefty price. The two sides have until July 17 to reach a deal, but Schoen knows Barkley doesn’t have hard feelings throughout these negotiations.
“I don’t think he’s thrilled about being tagged. But he’s a professional. He understands the business,” Schoen said. If the deadline passes without a long-term deal, are the final days of Barkley as a New York Giant imminent?
Could Barkley Be Traded If the Giants Force the Tag?
If the 2023 New York Giants season is any semblance of the 2022 campaign, given Barkley signs the franchise tag, it seems unlikely the franchise would ship him off somewhere. But if Jones regresses after the massive contract extension, could New York look to offset the decision by trading the star running back to add more draft capital?
The Giants will exhaust all options to agree with Barkley on a long-term deal before July 17. If nothing materializes, getting something for the Pro Bowl RB is better than nothing.
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The franchise tag can only be applied to a player three times. However, placing it a second time automatically increases a player’s salary by 20% and the third by 44%. A second and third tag on Barkley would likely be far more expensive for the Giants than the market value.
New York likely wants to avoid that scenario, but if nothing can be agreed upon and the Giants take a step back in the 2023 regular season, expect the phones to be ringing and rumors swirling around Barkley being traded.
