Giants decline franchise tag for Saquon Barkley, paves way for RB to enter free agency: reports

Two-time Pro Bowler and longtime New York Giants star running back Saquon Barkley appears headed for free agency for the first time in his NFL career.

The Giants have decided not to use the franchise tag on the now-pending free agent Barkley, ESPN's Adam Schefter and others reported on Tuesday. NFL teams had until Tuesday to decide whether to apply the restrictive roster marker on players.

Last week, Giants general manager Joe Schoen said he was hopeful that Barkley could end up back with the team in 2024. "He's a guy we'd like to have back," Schoen told reporters at the NFL Scouting Combine in Indianapolis.

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New York Giants running back Saquon Barkley takes the field at MetLife Stadium, Jan. 7, 2024. (Kevin R. Wexler/USA Today Network)

Schoen also noted that he had time set aside to meet with Barkley's representatives to talk about the running back's potential future with the Giants.

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Last March, the Giants decided to place the non-exclusive franchise tag on Barkley. His one-year contract was later adjusted. Barkley was the second overall selection in the 2018 NFL Draft and has spent his entire professional football career in New York.

Saquon Barkley of the New York Giants warms up for the Philadelphia Eagles game at MetLife Stadium on Jan. 7, 2024, in East Rutherford, New Jersey. (Cooper Neill/Getty Images)

Tagging Barkley would have cost the Giants an estimated $12.1 million for the upcoming season.

Barkley's production dipped slightly last year, but he was still highly productive and finished his 2023 campaign with 1,650 yards from scrimmage. He rushed for 1,312 yards in 2022, and ended the 2023 season with 962 yards on the ground.

Saquon Barkley of the New York Giants during the national anthem before the Cardinals game at State Farm Stadium on Sept. 17, 2023, in Glendale, Arizona. (Michael Owens/Getty Images)

A report also surfaced on Tuesday stating that the Giants could be ready to move on from quarterback Daniel Jones. Barkley has been a key part of Jones' success over the past couple of years, as the offensive system under head coach Brian Daboll has leaned heavily on the running back.

Schoen did note that he was "pleasantly surprised" the NFL's salary cap is expected to increase significantly in 2024 to a reported $255.4 million.

Barkley's injury history has likely been a sticking point in contract negotiations. Ankle injuries set him back in 2021 and last season. He suffered a torn ACL and MCL in 2020.

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However, Schoen downplayed any injury concerns and expressed his belief that Barkley would continue to produce in the future.

"I think the world of Saquon and I still think he can play," Schoen said. "So, my value for Saquon really hasn't changed. Unfortunately, throughout the process, starting back in November of 2022, we weren't able to come to an agreement in terms of where we both thought a deal made sense."

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