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Saquon Barkley is staying put in New York!
After handing quarterback Daniel Jones a four-year, $160 million contract extension, the New York Giants have managed to retain superstar running back Saquon Barkley's services for the 2023 NFL season with a non-exclusive franchise tag.
The team also announced in a press release that they'll continue to negotiate a long-term deal with Barkley ahead of the July 17 deadline:
"The Giants and Barkley will continue to discuss a long-term contract, a conversation that began during the team's bye week in November. A franchise tag is basically a one-year deal that grants a window to negotiate a long-term contract. The Giants and Barkley can continue to negotiate a long-term contract until July 17; if they can't reach a multi-year extension, Barkley will play under his franchise tag this season."
How much will Saquon Barkley earn in 2023?
If the Giants and Barkley fail to agree terms on a contract extension by July 17, Barkley will play out the season on the franchise tag.
A player that has been franchise tagged is paid an average of the top five tag amounts at the player's position from the previous five years, or 120% of the player's previous year's salary, depending on whichever of the two options is greater. Barkley will earn $10,091,000 if he is forced to play out the 2023 season on the non-exclusive franchise tag.
Under the non-exclusive franchise tag, a player is allowed to negotiate terms with other teams. If they manage to reach an agreement, the team that has placed the franchise tag on the player can either match the offer or let the player walk in return for two first-round picks.
It's unlikely that any team in the league would spend two first-round picks on a running back. The most likely outcome for Saquon Barkley remains a contract extension with the Giants before July 17, or free agency in the 2024 offseason.
Regardless of the final outcome, retaining Barkley, who had a tremendous season in 2022, is a big win for Giants head coach Brian Daboll.
