EAST RUTHERFORD, NJ — As New York Giants veterans reported to training camp on Tuesday, a surprise awaited them as star running back Saquon Barkley was on the block before 8 a.m. that many didn’t expect to see until September.
Barkley agreed to a one-year deal in lieu of playing in a $10.091 million franchise tender. He has a $2 million upfront signing bonus and has $1 million in incentives on a contract that could run up to $11 million. But he didn’t get any guarantees that the team wouldn’t use the franchise tag again next year.
The $11 million cash value on Barkley’s new contract ranks him third among running backs in 2023 behind Derrick Henry of the Tennessee Titans ($16.4 million) and Nick Chubb of the Cleveland Browns ($14.9 million), according to ESPN Stats & Information.
After nine months of negotiations, this was where they landed. Perhaps not where either party expected this to go when they started talking about a new contract during their farewell week last year. Probably not what the running back Barkley brothers wanted to see as they fight for a more lucrative market in the position.
ESPN NFL front office analyst Mike Tannenbaum described the deal as “extremely rare,” He said the last time a tagged player got more money on a one-year deal was in 2005 when Edgerrin James signed with the Indianapolis Colts.
Why is the deal done now? Is Barclay Cave? Giants reporter Jordan Raanan and NFL reporter Dan Graziano answered five burning questions regarding the deal.
Why did this happen now?
London: It seems pretty clear that Barkley wanted to get this out of the way and report back to training camp. Heck, he didn’t fight to the bitter end to have the franchise rescinded next year.
But Barkley is a player who is fully aware of his image. This was evident when he said at AMPT soccer camp last month that he didn’t like how the negotiations were publicly portrayed. He said the coverage made him look “greedy”. Barkley preaches being the first team to prioritize winning. Whatever it takes – whatever it costs. Getting this out now allows the cloud that was about to be cast over training camp to be cleared.
Did Barkley cave in agreeing to this deal?
Graziano: Yes. That’s a win at the Belmont Secretariat level for the Giants. Barkley could have insisted on a clause preventing the Giants from franchising him again next year, but he didn’t. He could have sat through training camp and taken that deal a month from now, but he didn’t. He could have at least sat out a day of training camp and taken that deal on Wednesday, but he didn’t.
Barkley’s approval of this deal tells us he knew he was beaten, and that all his leverage went out the window once a long-term deal was not completed by the July 17 deadline. So he’s got the ability to make $900,000 in incentives, and he’s got a good chunk of the money up front, but there’s no real financial payoff here for Barkley, whose best-case scenario is to go through all of this again off next season.
What effect does this have on other contestants looking for deals?
Graziano: Yeah, it’s hard to imagine inviting Barkley to your next Zoom call, right? This does not help anyone. Sure, it provides a framework for the Las Vegas Raiders and Josh Jacobs to find a solution to their identical problem, but there’s no reason to assume the Raiders want to offer Jacobs anything more than the mark, and no reason to assume Jacobs is as willing to give up as Barkley was.
If you’re Jonathan Taylor looking for a stretch from the Indianapolis Colts, it doesn’t help. If you’re Dalvin Cook, Ezekiel Elliott, Leonard Fournette or Kareem Hunt – all free agents looking for homes – this is no help. But neither did Joe Mixon take a nearly 50% pay cut two weeks ago to avoid being released by the Cincinnati Bengals, or Austin Eckler’s meager resolution of his feud with the Los Angeles Chargers.
Facts are facts, and the truth now is that no one — no one — wants to pay again or even feels the need to. In the current market realism, that’s the best Barclay can do, and that’s a shame on them all.
What does that mean for Barkley’s future with the Giants?
London: This will not eliminate any bad taste left in Barkley’s mouth from the difficult negotiations. Giants haven’t given up a ton here. They still have the franchise tag to use or hang over his head next year. Barkley wants to stick with the Giants, and has said repeatedly that he wants to be a “Giant for life.” But that doesn’t change the fact that general manager Joe Schoen has his limits in what he thinks Barkley is worth.
One executive recently told me that even if Barkley has another great season, his value will probably go down in 2024 because he’s a year older with more wear and tear on his body.
How important is it to get the deal done now for the attack that the Titans committed?
London: There is a benefit to having Barclay in the camp. It allows him to be in great shape early in the season and get his timing with the offensive line. The Giants also made a lot of changes to their receiver core this offseason, and in truth, the offense as a whole is expected to look different. His presence on the premises and in the field (even if his workload is likely limited) can only help work out some of the kinks.
But the biggest benefit may be that Barkley’s colleagues don’t have to answer questions about his absence all summer and the attendant distractions. Instead, it can be relatively drama-free, campy.