Breaking News: New York Giants are considering whether they can afford to re-sign him.

Saquon Barkley Seems Ready to Sign a Mega-Deal as a Free Agent

Although Saquon Barkley appears destined for free agency, he might end up accepting a deal akin to the one he rejected from the New York Giants during the previous summer.

While teams all throughout the NFL seem satisfied to cycle through established elite players at the position before drafting young players to prevent increased injury risk and decline later in their careers, Barkley is entering the open market at a time when teams have never valued running backs less.

Joel Corry, a former NFL agent and current CBS Sports commentator, claims that Barkley could be an anomaly because he is the most sought-after running back in this elite class of free agents.

For CBS, Corry notes that “NFL teams exercised fiscal restraint with running backs in free agency last year.” Miles Sanders secured the best contract available on the open market. Upon leaving the Eagles in 2022, he signed a four-year, $25.64 million contract with the Carolina Panthers, with $13 million fully guaranteed. In 2022, he set career highs with 1,269 running yards and 11 rushing touchdowns, ranking seventh and eighth in the NFL, respectively.

After starting talks in the middle of the 2022 season, Barkley and the Giants were unable to reach an agreement before the mid-July deadline for franchise players to sign multi-year contracts. Barkley played the 2023 season on a $10.091 million franchise tag last season, with $909,000 worth of incentives added for a maximum of $11 million. At this time, he allegedly turned down a three-year offer in the neighborhood of $11 million per year with guarantees of between $22 and $23 million. These parties reportedly offered Barkley the $2 million he needed to close the deal.

According to Corry, Barkley will receive a $33 million contract that will last three years.

With Barkley and a plethora of other elite running backs (Josh Jacobs, Derek Henry, D’Andre Swift, and Austin Ekeler) expected to be available, Barkley receiving a $23 million contract should be viewed as a win for the No. 2 overall choice in the 2018 NFL Draft.

Is it Affordable for the New York Giants to Sign Saquon Barkley?

The New York Giants should consider whether they want to pay a premium for a running back or whether they can afford to sign Saquon Barkley.

The Giants, under general manager Joe Schoen, are expected to have cap space of at least $149.5 million in 2025, up from their current estimate of $41 million in 2024. Barkley’s return appears to be within New York’s financial reach, particularly if he signs a backloaded contract.

But the Giants also need to re-sign rising safety Xavier McKinney, and they might prefer to use their resources elsewhere and let Barkley leave via free agency in order to strengthen their roster.

Given the need and resources teams like the Philadelphia Eagles, Houston Texans, Baltimore Ravens, and Washington Commanders have available in a season where the salary limit has hit a historic $255.4 million, Barkley would surely see a strong market.

Saquon Barkley, who has served as the Giants’ face, now has the option to cash in and possibly sign with a team that has a realistic possibility of contending for Super Bowls starting in 2024.