Raiders' Josh Jacobs Should Accept Franchise Tag, Eye 2024 FA amid Latest NFL Rumors

The NFL's devaluation of running backs has been a prominent storyline during the 2023 offseason. We've seen reliable starters like Ezekiel Elliott and Dalvin Cook become cap casualties and Pro Bowlers like Josh Jacobs, Saquon Barkley and Tony Pollard receive the franchise tag instead of long-term commitments.

With Monday's 4 p.m. deadline to extend tag players lurking, there's a slim chance that Barkley and Pollard will strike new deals. For Jacobs and the Las Vegas Raiders, however, it appears that it will be the franchise tag or nothing.

"Deadlines sometimes spur actions, but the feeling is that the financial gap between the Raiders and Jacobs is too wide to close between now and Monday," Vincent Bonsignore of the Las Vegas Review-Journal wrote on Saturday.

Bonsignore also reported that Jacobs is "already sending word" that sans a long-term deal, he won't report for the start of training camp on July 25.

It's not an empty threat from Jacobs. Since he's not technically under contract until/unless he signs the franchise-tag tender or commits to a new deal, he can't be fined for missing camp. And Jacobs has already hinted this offseason that he's willing to take a stand for a position group that has been woefully underappreciated financially in recent years:

Jacobs has every right to be upset with the current running back market. Miles Sanders is a 26-year-old back coming off a Pro Bowl campaign, and he got a relatively modest four-year, $25.4 million deal that includes $13 million in guarantees from the Carolina Panthers in free agency.

Compared to the deal 31-year-old DeAndre Hopkins landed over the weekend, Sanders' contract isn't fair:

Sanders' deal is a veritable insult compared to three-year, $41.25 million deal that the Jacksonville Jaguars just gave franchise-tagged tight end Evan Engram—a deal that, according to ESPN's Adam Schefter, includes $24 million fully guaranteed.

The reality, however, is that Jacobs isn't in a position to change the NFL landscape this offseason, not by himself anyway. He can send a message to Las Vegas by skipping practices, but unless running backs find a way to increase their collective bargaining power—via a separate positional union, perhaps—the trend of teams not paying running backs the proverbial big bucks is going to continue.

If Jacobs crosses Monday's deadline without an extension, his options will be to A.) sign his tender, collect $10.1 million guaranteed and play for the Raiders in 2023, B.) refuse to play and hope that Las Vegas rescinds the tag and makes him a free agent, C.) demand a trade or D.) sit out the 2023 season entirely.

Jacobs' decision is his prerogative, and players should never be faulted for doing what they believe is best. If the 25-year-old wants to maximize his earnings, though, playing under the tag in 2023 is his best option.

Sitting out an entire season? That's not going to do much for Jacobs' 2024 market. Le'Veon Bell tried that tactic back in 2018, and while he did eventually get paid by the New York Jets, he wasn't the same Pro Bowl-caliber player following a year layoff. He lasted less than two seasons in New York and wasn't on a roster last season.

A trade is possible—Jadeveon Clowney was traded under the tag in 2019—but unlikely since Monday's extension deadline would apply to any team holding his rights via the franchise tag.

And the Raiders are under no obligation to rescind the tag. With only $3 million in cap space, they might value the savings, but they're entering a rebuilding year and can afford to wait things out.

With Jacobs or without, Las Vegas isn't contending for a championship this season. This is another factor that Jacobs must consider. The Raiders are building for the future, and it seems highly unlikely that he's going to get the long-term financial security that he wants from them.

Josh McDaniels and Dave Ziegler are both products of the New England Patriots, a franchise that has traditionally churned through running backs on budget deals.

Jacobs probably wouldn't get the long-term deal he wants if the tag is rescinded this late in the offseason either. He probably wouldn't even get the $10.1 million he already stands to make in 2023—not with Elliott, Cook, Kareem Hunt and others available and with half the league possessing less than $15 million in cap space.

Unfortunately, Jacobs probably won't approach Christian McCaffrey's league-leading (for running backs) $16 million annual salary next offseason either. With another strong campaign, though, the reigning rushing champ might have a chance.

Jacobs will turn 26 next February, and like Sanders this year, he might land a reasonable three- or four-year deal from a cap-flush team at the onset of free agency. Whether he ever sees the end of that contract is another matter entirely.

None of this means that Jacobs has to report to camp. If he can avoid practices and the preseason, limit his injury risk, and still show up before Week 1 ready to play at a Pro Bowl level, he should. However, holding out into the regular season will do little more than cost Jacobs money in the short term and potentially diminish his long-term market value.

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*Contract information via Spotrac unless otherwise noted.