A week after failing to reach an agreement on a multi-year contract, the New York Giants and running back Saquon Barkley have agreed on a new 1-year contract reportedly worth up to $11 million and which includes a $2 million signing bonus. The agreement also reportedly includes $1 million in incentives if Barkley reaches 1,300 yards, 11 touchdowns, 65 receptions, and the Giants make the playoffs. There was no provision in the contract preventing team from placing the Franchise tag on Barkley again next year.
This deal replaces the 1-year, $10.1 million Franchise Tag placed on Barkley back in early March. Barkley is now expected to report to summer training camp today on time. There will be no holdout.
Per Collective Bargaining Agreement (CBA) rules, the deadline for any team to sign a Franchise player to a multi-year contract was by 4:00PM on July 17th. After that date, Barkley could only sign a one-year contract with the Giants for the 2023 season. The contract cannot be extended until after the team’s last regular-season game in early January 2024.
According to previous media reports, Barkley did turn down a 3-year contract offer before the July 17th deadline with with an annual value between $11-11.5 million with $22-23 million in guaranteed money.