Josh Jacobs' contract holdout is officially over.
As originally reported by Ian Rapoport and Tom Pelissero of NFL.com, the Raiders and Jacobs agreed to a one-year deal worth up to $12 million, replacing the franchise tag that had been previously placed on the running back, which would have been worth $10.091 million.
The two sides previously could not agree to a long-term extension, causing Jacobs to sit out of training camp due to the ongoing contract dispute. Jacobs had reportedly been in Las Vegas for the last week as the two sides continued negotiations, and now is ready to report to the team with the preseason nearly finished.
Jacobs is coming off his best season to date in his NFL career. He led the league in rushing yards with 1,653 on the ground, adding 12 touchdowns as well. His 97.2 yards per game also ranked first in 2022.
Here's all you need to know about Jacobs' new contract for the 2023 season:
MORE: NFL running back contract issues, explained
Josh Jacobs contract details
If Jacobs achieves the full potential of his deal, he will earn slightly more — $12 million — than the $10.091 million he was set to make on the franchise tag in 2023.
Raiders, RB Josh Jacobs agree to terms on one-year contract worth up to $12M. (via @RapSheet + @TomPelissero) pic.twitter.com/CfaVu58DZT
— NFL (@NFL) August 26, 2023
Why did Josh Jacobs, Raiders agree to one-year deal?
As Rapoport reported a month ago after Saquon Barkley signed a one-year deal with the Giants, the only contract left available for Jacobs and the Raiders to work out was a one-year deal. The deadline for franchise-tagged players to reach a multi-year extension passed on July 17.
When a player doesn't do a long-term deal by the mid-July deadline, the only option is a 1-year deal. But the two sides can negotiate that 1-year franchise tag into a 1-year new contract. It's very rare. But that's what happened here. Smart on all sides. https://t.co/grHYJmYGpT
— Ian Rapoport (@RapSheet) July 25, 2023
Essentially, the deal is a compromise from the two sides. It allows Jacobs an opportunity to make more than when he was on the franchise tag, and another chance to cash in on a long-term deal next offseason.
I’m back 😈😏
— Josh Jacobs (@iAM_JoshJacobs) August 26, 2023
For the Raiders, they keep their star running back on the roster without having to commit a lengthy tenure to Jacobs.
