Saquon Barkley of New York Giants looking on.EAST RUTHERFORD, NEW JERSEY – OCTOBER 22: Saquon Barkley #26 of the New York Giants celebrates after scoring a touchdown in the second quarter of the game against the Washington Commanders at MetLife Stadium on October 22, 2023 in East Rutherford, New Jersey. (Photo by Sarah Stier/Getty Images)
It is starting to sound like the New York Giants and star running back Saquon Barkley will indeed part ways when free agency opens next month.

The Giants placed the franchise tag on Barkley last year, but the two sides were unable to reach an agreement on a long-term extension. Barkley wound up agreeing to a one-year deal for the 2023 season.

Ralph Vacchiano of FOX Sports reports that the Giants “are not expected to” place the franchise tag on Barkley again. Vacchiano noted that New York will likely explore a cheaper option at running back:
“Yes, the Giants were worse without him (Barkley), but they were still only 6-8 when he was on the field.

That’s why the Giants are almost certain to allocate his cap space elsewhere and look for cheaper help at his position. They are not expected to use the franchise tag again, according to the source, especially now that it’s bumped up to $12.1 million. And they’re not expected to increase the contract offer he rejected last offseason — a deal that likely isn’t on the table anymore, anyway.”

Barkley has been the Giants’ most valuable player since he was drafted second overall in 2018. But the running back position is devaluing more and more each year, and Barkley’s injury history means New York would be taking a giant risk in paying him top dollar.

But a player of Barkley’s caliber should draw plenty of interest on the open market. Despite his injury history, Barkley has put up 1,200-plus yards of offense in four of his six NFL seasons.