As of late morning, the Giants have now made it official, announcing Barkley had signed the franchise tag. Essentially, this is a franchise tag with incentives.
Adam Schefter has the contract details. They are:
- One year fully guaranteed at $10.1 million.
- A $2 million upfront signing bonus.
- Up to $1 million incentives with an equal amount paid for 1,300 rushing yards, 11 touchdowns and 65 receptions.
Ryan Dunleavy also reported that Barkley’s incentives could be tied to the Giants making the playoffs. Art Stapleton is reporting that ALL of Barkley’s incentives are tied to the team making the playoffs.
Schefter said Barkley did not receive a ‘no franchise tag in 2024’ clause in the deal. That means the Giants could tag him again in 20204. Jordan Ranaan reported that if Barkley were tagged next season the value would still be at 120% of $10.1 million, or roughly $12.1 million.
Barkley gained 1,312 yards rushing last season, so that would be considered a ‘likely to be earned’ incentive. He fell just short of the touchdown (he had 10) and reception (he had 57) incentives. Those would be considered ‘not likely to be earned’ incentives, but would seem reachable for the 26-year-old.
“Obviously we are glad we were able to work things out with Saquon,” said general manager Joe Schoen. “We all recognize the player and person Saquon is and what he means to our team. He is a good teammate, a leader and a really good player. We are looking forward to getting on the field tomorrow.”
The deal gives Barkley an opportunity to earn more than he would have playing on the $10.1 million franchise tag.
The biggest and best news, though, is that it avoids the distraction of a training camp holdout and eliminates the possibility that the Giants’ best offensive player would sit out regular season games.
Ross Tucker, who I spoke to about the Barkley situation for a ‘Valentine’s Views’ podcast on Monday, reacted this way to the news:
Not sure this would’ve been enough for me to report to camp if I’m Saquon but kudos to the Giants for giving him enough to get it done now and avoid the prolonged holdout.
That’s well done.
— Ross Tucker (@RossTuckerNFL) July 25, 2023
Barkley and the Giants reportedly were only a couple million dollars apart on a multi-year deal at the July 17 franchise tag deadline.
The Giants were reportedly offering Barkley in the neighborhood of $11 million annually with around $23 million in guaranteed money.
This seems like an olive branch from the Giants, with the incentives giving Barkley an opportunity to earn more than he would have on the tag. It does not solve the long-term issue, but it does bring an end to an issue that threatened to impact the Giants 2023 season.
Dunleavy added more context:
Barkley couldn’t get a multi-year deal done after last Monday so what he accepted was incentives up to $11M — the annual average on final offer he turned down. The first-year on #Giants best multi-year deadline offer was still $10.1M, per source https://t.co/N1FD5MkVZh
— Ryan Dunleavy (@rydunleavy) July 25, 2023
So, this is a good day for the Giants. When players take the field on Wednesday for the first practice of training camp, Barkley will be among them. That is the best news possible.