The New York Giants are placing the franchise tag on superstar running back Saquon Barkley, according to Mike Garafolo. The franchise tag for the running back position is worth $10.1 million. The Giants tagged Barkley just before the deadline after completing a deal to extend QB Daniel Jones on a four-year, $160 million contract.
New York Giants place franchise tag on Saquon Barkley
Barkley has said in the past that he would be “upset” if the Giants placed the franchise tag on him this offseason. However, with no extension agreement in sight, the tag was the only way for the Giants to ensure that they could prevent Barkley from hitting the open market.
Placing the franchise tag on Saquon gives the Giants more time to negotiate a long-term deal with his representatives. According to Ralph Vacchiano, the tag may be used as a place-holder on Barkley as the Giants are “hopeful of signing him to a long-term deal sooner than later.”
However, Vacchiano adds that “the sides have some work to do” as they “weren’t close in numbers while the Giants worked on Jones’ deal.” Barkley reportedly rejected the Giants’ initial contract offer of $12.5 million per season during the team’s 2022 bye week.
The Giants will continue to negotiate with Barkley ahead of the New League Year on March 15th. The franchise tag carries a full $10.1 million cap hit, however, the Giants could lower that hit and free up some space ahead of free agency with an extension.
Saquon Barkley will be back with the New York Giants for at least the 2023 season. The two sides have until July to come to terms on an extension.
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