Saquon Barkley has not reported to the New York Giants‘ offseason workouts nor signed his franchise tag, stretching his contract drama into May and fostering a new batch of rumors about his status. As new reporting sheds light on offers that Barkley has already rejected, it’s becoming clear that the veteran running back and his agent have severely overplayed their hand.
Latest Saquon Barkley Rumors Prove Giants Are Winning the Contractual Battle
We already knew that the Giants were believed to have offered Barkley a three-year deal worth roughly $12 to $12.5 million during New York’s November bye week. And reports had also suggested that Barkley received a slightly larger proposal after the season ended.
That later offer included a $13 million annual salary and incentives that could have allowed Barkley to reach $14 million, according to Bob Brookover of NJ.com.
While we don’t know how that deal would have been structured or what kind of guarantees it might have involved, it would have made Barkley the third-highest-paid RB in the league by average annual value, behind only Christian McCaffrey and Alvin Kamara.
An agent told Paul Schwartz of the New York Post that the concept of Barkley turning down a contract worth $12-13 million per season was “dumb” as long it included roughly 60 percent guaranteed. That same agent said that a three-year, $30 million deal for Barkley would be considered “pretty rich.”
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Barkley seems unlikely to accept any offer that would include less money over the next two seasons than two consecutive franchise tags would.
If the Giants tagged Barkley again in 2024, he’d be entitled to a 20 percent raise over his $10.091 salary in 2023. All told, he could collect $22.1 million over the next two years on back-to-back franchise tenders.
Barkley Has Some Leverage, But Not Much
As a former No. 2 overall pick, Barkley has already made more money than nearly all of his running back counterparts. His career earnings stand at $38.6 million, the third-most among active NFL running backs behind McCaffrey and Derrick Henry.
Barkley already has something close to generational wealth in hand. That doesn’t mean he shouldn’t try to earn every dollar he can over the remainder of his career. But it does mean that Barkley doesn’t necessarily have to accept any offer he’s not entirely pleased with.
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Still, if the Giants have a $13 million offer on the table to Barkley, he should probably accept it. There’s every reason to believe this could be the most significant proposal he’ll receive.
For one, it’s an incredibly difficult time to be an NFL running back. As teams continue to find serviceable RB solutions in the middle or late rounds of the draft or in the later waves of the free agent period, salaries at the position have continued to devolve.
This offseason, the top three free agent backs — Barkley, Josh Jacobs, and Tony Pollard — all received the franchise tag. Miles Sanders collected the largest multi-year deal at $6.35 million per year, while David Montgomery was the only other RB to get more than $6 million annually.
Meanwhile, Derrick Henry, Dalvin Cook, and Austin Ekeler have all been rumored to be available in trades, but their respective teams have had a hard time unloading them. Henry and Cook both earn more than $12.5 million per year, so their contracts are likely proving tricky in trade talks. But the Chargers can’t find a decent return for Ekeler, who is making just $6.25 million.
By playing on the franchise tag, Barkley would also be banking on staying healthy and posting another productive season. That’s a big gamble, considering that he missed nearly all of the 2020 campaign with an ACL tear and then never looked right during the 2021 season.
Barkley also slowed down over the back end of last year. After averaging 103.4 rushing yards per game over New York’s first nine contests, Barkley managed only 54.4 yards per game over the remainder of the season.
Barkley handled the fourth-most rushing attempts (295) and the third-most total touches (352) in the NFL a year ago. The Giants could potentially be concerned that he won’t remain effective as he continues to add more wear and tear over the next few seasons.
New York extended quarterback Daniel Jones for $40 million per year earlier this offseason. Just last week, they handed defensive tackle Dexter Lawrence a new deal worth $22.5 million annually. The Giants aren’t afraid to put their money where their mouth is, but they’ve made their positional preferences clear — and running back isn’t one of them.