Duggan: Giants letting Saquon Barkley test free-agent market is best outcome for both sides

When the New York Giants and Saquon Barkley couldn’t agree on a long-term contract last July after nine months of negotiating, it seemed like the running back’s days in New York were numbered. That conclusion became a much stronger possibility when the Giants elected not to franchise tag Barkley for a second straight year before Tuesday’s deadline.

Barkley is now slated to become an unrestricted free agent next week for the first time as he enters the seventh season of his NFL career. This is the best outcome for both sides with it clear the Giants don’t want to meet Barkley’s desire for a top-of-the-market contract or tie up $12.1 million on this year’s cap with another tag. Meanwhile, Barkley can finally gauge his value on the open market.

It will be interesting to learn what he finds in a crowded market at an undervalued position. An NFL executive projected Barkley’s value at $8 million to $10 million per year, with the possibility of some inflation later in a deal to make it look like $12 million per year.

That’s less than Barkley turned down from the Giants during last year’s protracted negotiations. The team’s highest offer reportedly was $13 million per year, but limited guarantees prevented Barkley from accepting.

The door is still open for Barkley to return to the Giants, as he could give the team the ability to match his best offer. But Barkley is under no obligation to do so, and the Giants may move on to spend on other needs while the running back is testing the market.

If Barkley departs, it will signal the end of a disappointing era. Dave Gettleman used the No. 2 pick on Barkley in his first draft as Giants general manager in 2018.

Gettleman crowed about Barkley’s Hall of Fame talent, which was evident immediately when he won Offensive Rookie of the Year while leading the NFL with 2,028 scrimmage yards. But injuries and a poor supporting cast limited Barkley’s impact on winning.

Gettleman was replaced in 2022 by Joe Schoen, who had a more modern view of positional value. The Bills didn’t spend on running backs during Schoen’s five years as the team’s assistant GM, but he found himself in a tricky spot after his first season with the Giants.

Barkley ranked fifth in scrimmage yards among running backs and didn’t miss a game due to injury while being a catalyst during the Giants’ surprising playoff run in 2022. Schoen felt compelled to retain Barkley and quarterback Daniel Jones after that success.

The Giants used the franchise tag on Barkley last March after they agreed to a four-year, $160 million contract with Jones moments before the deadline. That sapped Barkley’s leverage, and a last-ditch effort at an extension before the mid-July deadline failed without the sides being able to bridge a gap reportedly between $1 million to $2 million.

Barkley didn’t miss a single training camp practice despite his displeasure with getting tagged. He played last season for the $10.1 million franchise tag salary with an adjusted deal that included $909,000 of incentives he didn’t come close to reaching.

Barkley’s production dipped during a disastrous season for the entire offense. He also missed three games with a high ankle sprain and is now 27 years old with 288 more touches on his odometer.

Schoen didn’t make Barkley available at the trade deadline despite the Giants’ 2-6 record and the unlikelihood of an extension after the season. The Giants now could get nothing in return for Barkley since they’ll likely spend enough on another free agent to cancel out a potential compensatory draft pick.

Schoen was clearly sensitive to the message it would send to the locker room to deal Barkley in the middle of a rough season, especially with a strong return in a trade unlikely. Barkley’s leadership has added to his value to the organization.

A five-time captain, Barkley has been the team’s Walter Payton Man of the Year nominee for the past two years. There are more No. 26 jerseys in the MetLife Stadium crowd than any other player, and Barkley has been an exemplary face of the franchise through a trying stretch.

Those were the factors that made Schoen willing to extend beyond his comfort zone in his offers to Barkley beginning during the team’s bye week in 2022. But Schoen made it clear this offseason that Barkley’s value was going to be determined by the sagging running back market.

It wouldn’t be a surprise if Schoen targets a cheaper running back(s) — Zack Moss and Devin Singletary were third-round picks during Schoen’s time in Buffalo who have been productive and will come much cheaper — and spends big on other positions, like offensive line and edge rusher.

Barkley repeatedly expressed his desire to be a “Giant for life.” And perhaps that’s still how this story ends. But all signs point toward his chapter with the Giants closing. That’s the best thing for both parties.

(Photo of Barkley: Ryan Kang / Getty Images)