Giants Rumors: Saquon Barkley Offered $11M Annual Contract; Sides Only $1-2M Apart

While the New York Giants failed to sign running back Saquon Barkley to a long-term deal before Monday's deadline passed, it sounds like the two sides weren't very far apart in negotiations.

According to Ryan Dunleavy of the New York Post, "the Giants didn't budge off an offer of $11 million per year with a guarantee slightly north of $22 million even though it was within $1 million to $2 million on both ends of Barkley's reduced asking price." NFL Network's Mike Garafolo confirmed that the minuscule gap "seemed close enough to bridge" before it ultimately didn't get done.

Barkley has yet to sign the $10.1 million franchise tag, and he's expected not to report to training camp later this month on July 26. He cannot be subjected to fines while the tag remains unsigned. However, he risks the chance of forfeiting around $560,000 per game if his holdout runs into the regular season.

Per Dunleavy, "the two sides ended weeks of silence" to reopen negotiations on Monday before they failed to reach an agreement. They can't begin negotiating again until after the 2023 season.

Barkley took to Twitter to express his thoughts after the deadline passed:

Dunleavy also noted that "the Giants have the leverage of a second franchise tag in 2024 to again keep him from free agency" next offseason. Barkley reportedly "previously turned down a contract worth $13 million per year with $19.5 million guaranteed, sources said, because he is guaranteed $22.2 million if he plays on back-to-back tags in 2023 and 2024."

Barkley was the engine that powered the Giants offense in 2022. The 26-year-old registered career highs of 295 carries and 1,312 yards while adding 12 touchdowns. He also posted 338 receiving yards on 57 catches. While the running back position has been devalued in the NFL, it still came as a surprise that a player of his caliber couldn't secure a long-term deal.

"He wants to be in New York and New York wants him there," one league executive told Dunleavy. "That's what makes this unexpected."