The Giants are waiting around for the NFL and the NFLPA to get a new labor agreement done before the March 4 deadline like everyone else, but as of today, teams are allowed to use the franchise tag for the 2011 season if they so choose.
The franchise tag, if you didn't know, gives a player a one-year contract worth the average of the top five paid players at their position.
Typically the Giants will make an offer and stick to it; if a player gets a better offer they will let them go, just ask Derrick Ward.
The Giants have only franchised two players in their history, Jumbo Elliot in 1993 and Brandon Jacobs in 2009, and Jacobs eventually agreed to a long-term deal so he actually did not spend a season with the tag applied.
However, there are still quite a few top-tier players that the Giants might not be willing to keep long term, but don't want to see them put on another uniform either.
If the Giants actually choose to use the franchise tag, here are four players I imagine they would consider using it on.