Saquon Barkley played the 2023 NFL season on the franchise tag after failing to agree to a lucrative contract extension with the Giants. The two parties seem poised for a similar dance as Barkley prepares to hit free agency during the 2024 offseason.
Barkley was asked about the possibility of being tagged at New York's year-end locker room availability on Monday. He seemed resigned to the fact that he could, once again, be effectively forced to play on a one-year deal.
"They did it last year, so I’m numb to it," the running back said when asked about the franchise tag. "I don’t have any feelings toward that at all."
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That said, Barkley did have one request for the Giants if they do slap him with the tag again.
"If you’re gonna do it, just don’t wait until March 5," Barkley said. "Just get it over with. If not, let me go. Simple."
Understandably, Barkley wants to know about his future as soon as possible. That would allow him to begin long-term negotiations with the Giants again or start assessing what his options might be on the open market.
The Giants have plenty of reasons to keep Barkley, who racked up 1,242 yards and 10 touchdowns in 14 games during the 2023 NFL season. However, the soon-to-be 27-year-old now has 1,498 career touches under his belt, so perhaps the Giants will look for a younger, fresher back despite Barkley's importance to their offense.
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Saquon Barkley contract projection
Either way, Barkley figures to become one of the NFL's highest-paid running backs in 2024. He already was compensated at a top-10 rate thanks to his $10.1 million salary for 2023, per Spotrac.com, and he should have a chance to retain that standing.
That said, Spotrac.com projects that Barkley will be due a three-year contract worth just under $20 million. That would give him an average annual value (AAV) of $6.6 million, which would rank 11th in the NFL.
That may be a bit light for Barkley's services, and that valuation may be skewed by the dearth of valuable running back contracts doled out in recent seasons. Still, Barkley figures to command an eight-figure salary, so it's hard to imagine him settling for the deal outlined by Spotrac.
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In reality, Barkley probably deserves to make $12-$14 million per year on a three-year deal when looking at how players like Nick Chubb (three years, $36.6M, $20M guaranteed) and Jonathan Taylor (three years, $42M, $26.5M guaranteed) have gotten in recent seasons.
Perhaps Barkley will have to take a small discount because of his injury history. Even so, he should make something comparable to what he would get on the franchise tag with the Giants. The only difference is he would lock in that rate for multiple years instead of just one, so it's easy to see why he wants to agree to an extension.
