As the deadline passed, Saquon Barkley and the New York Giants failed to secure a long-term contract, according to a source familiar with the matter. The mounting pressure to reach a compromise before the Monday 4 p.m. deadline ended with no agreement, leaving Barkley and the Giants unable to discuss a new contract extension until post-2023 season.
Barkley’s tweet, “It is what it is,” posted six minutes before the deadline, indicates his likely refusal to sign the franchise tag worth $10.1 million guaranteed. It also suggests he may not attend the upcoming training camp with the rest of the team’s veterans.
Joe Schoen, the Giants’ general manager, has been navigating these negotiations since last season’s bye week. Schoen, who has become the face of the Giants’ business decisions, has been actively involved in the talks, representing the Giants’ interests.
The resolution of Daniel Jones’ contract negotiation, a four-year deal worth $160 million, had significant implications for the Giants’ strategy for the rest of the offseason. The Giants’ performance in 2023 is expected to be stronger with Barkley, but his absence now forces the team to proceed without him.
Schoen has repeatedly stated that the team is ready for Barkley to play this season on the franchise tag. The Giants reportedly offered Barkley $19.5 million guaranteed in a multi-year deal, which was later increased to $22 million, according to a source.
Barkley would likely consider signing a long-term deal if the guaranteed amount was in this range. If the Giants were to use a second franchise tag on him next year, the total guarantees would reach $22 million.
Without a deal, Barkley could extend the stalemate through training camp and potentially into the season. However, missing games would decrease the tag by 1/17th, costing him $594,000 per week. If the situation extends beyond Week 10, Barkley would be ineligible to play this season.
The Giants have recently invested over $240 million in contracts for two of their top players, Daniel Jones and Dexter Lawrence. They are also expected to invest heavily in Andrew Thomas, potentially setting a new standard for offensive tackle contracts. The negotiation with Barkley, given the market, his position, and the tag, does not reflect the Giants’ unwillingness to support their players.
Barkley’s strategy seems to be delaying signing the tag until at least the first week of September. Whether the Giants have seen through this tactic will soon be revealed, particularly if Barkley and the Giants fail to beat the clock.
