If the NY Giants bring back running back Saquon Barkley next season, which is a long shot, it will have to be on a new multi-year deal. For a while now, the expectation has been that the Giants won't place Barkley on the franchise tag for the second consecutive campaign.
The one and only Adam Schefter has gone ahead and confirmed that news. Schefter took to Twitter to report that several running backs won't get tagged, highlighted by Barkley, Derrick Henry and Tony Pollard. Had the Giants gone that route with Barkley, it would have resulted in a $12.1 million cap hit, but we now know that won't be happening.
The Giants will speak with free-agent-to-be running back Saquon Barkley and explore a deal with him, but they are also unlikely to tag him for $12,109,200, per sources. https://t.co/ektTdtZSaH pic.twitter.com/PspdR7W0V3
— Adam Schefter (@AdamSchefter) February 26, 2024
The Giants won't use the franchise tag on star running back Saquon Barkley
This news from Schefter isn't a shock, but it still doesn't take away from the nerves for countless Big Blue supporters that No. 26 could be suiting up for a different squad in 2024. As Schefter noted, though, the Giants will work to try and come to terms with the two-time Pro Bowler on an extension.
According to insider Art Stapleton, the Giants could let Barkley walk in free agency, but let him 'determine his value' once the new league year starts. This could open the door for Barkley to go back to the Giants with his best offer, giving Joe Schoen the chance to match it or risk losing him.
Barkley posted a career-high 1,312 rushing yards in 2022 and he followed that up with 962 rushing yards in 2023. Barkley unfortunately missed three games this past season with a high-ankle sprain, but that didn't stop him from hitting 10 total touchdowns.
We've seen just how valuable Barkley has been for the NY offense in recent years, but he and Schoen simply haven't been able to meet in the middle for a new contract. By mid-March we'll see if things will change this offseason, but with the Giants not using the tag on him, it only increases the chances of him signing elsewhere in the coming weeks.