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Update: It is a non-exclusive franchise tag for Barkley, meaning the running back can negotiate with other teams. The Giants can either match an offer sheet Barkley signs or let him go and receive two first-round picks in return.
The New York Giants have officially used a franchise tag on Saquon Barkley, locking up the running back for the 2023 NFL season. The Giants agreed to a long-term deal with quarterback Daniel Jones before tagging Barkley, ensuring the two key offensive pieces of the 2022 season will return next year.
With Daniel Jones reaching agreement on a long-term deal, the Giants are placing their franchise tag on RB Saquon Barkley.
— Adam Schefter (@AdamSchefter) March 7, 2023
Barkley had his best statistical season, rushing for 1,312 yards and 10 touchdowns while adding 338 receiving yards. The Giants also made the playoffs under first-year head coach Brian Daboll, who surely wanted to keep Barkley around.
The franchise tag for running backs this season is $10.09 million, which would allow the Giants and Barkley to continue negotiating a long-term deal until mid-July. New York is going to have to work some cap magic with Jones’ extension to get Barkley the deal he wants but the team is going to get some relief after releasing Kenny Golladay later in the offseason.