It has been announced that the Giants will not use a franchise tag on running back Saquon Barkley for a second straight season, despite all the chatter out of New York that the team valued Barkley’s contribution and wanted him to stay.
Barkley is not expected to receive a franchise tag because they must be tendered by Tuesday at 4:00 p.m. U.S. time.
He agreed to do so in advance of the 2023 campaign, supposing that he and the team could negotiate a long-term deal. However, as of right now, that hasn’t happened.
Barkley gained a great deal of respect by playing a whole season with the tag, which is equivalent to a running back’s annual salary of about $10.1 million, without missing a single practice.
Why should this be commended, some would wonder? A franchise-tagged player will frequently choose to wait for a trade to occur or until a new long-term contract is finalized.
Which franchise tag is it?
Teams are permitted to be shielded from a player leaving for free agency during the offseason in the salary cap era.
One player may be placed on a franchise tag by them each offseason, but only if the player is an unrestricted free agent at the time of placement.
The athlete is immediately assigned a one-year contract that will pay him at least the average of the top five players in the league for his position.
However, because they are not protected in the event of a major injury, players dislike playing with the franchise tag. When weighed against the amount they would get from a long-term contract, the guaranteed money is not very much. For this reason, some people frequently wait a year after receiving the tag because they are unwilling to jeopardize their health for such a small benefit.
The New York Giants plan to let Barkley go unsigned in an attempt to get him a better deal than the $23 million guaranteed one they gave him.
He will sign with a new team if this occurs, but if it doesn’t, the Giants will be in a stronger negotiating position and may choose to resign the running back as a free agent.