Giants placing franchise tag on Saquon after extending Jones

The New York Giants are placing the non-exclusive franchise tag on star running back Saquon Barkley, a source told Jordan Schultz, theScore's NFL insider. The Giants later announced the transaction.

New York appeared destined to tag Daniel Jones due to stalled negotiations, which would've let Barkley test free agency. However, the Giants reached an agreement on a reported four-year, $160-million contract extension with Jones prior to Tuesday's tag deadline. The club then elected to use the tender on Barkley.

The running back franchise tag is worth just under $10.1 million, according to Over The Cap.

Barkley put together his best season as a pro under first-year head coach Brian Daboll in 2022. He earned his second-career Pro Bowl invite after recording a career-high 1,312 rushing yards as well as 10 touchdowns.

The Penn State product dazzled during his rookie campaign after New York selected him with the second overall pick in 2018. He led the league with 2,028 scrimmage yards and added 15 total touchdowns on his way to being named the Offensive Rookie of the Year.

Barkley becomes the third tailback to be tagged before Tuesday's deadline, joining Josh Jacobs and Tony Pollard.

The Giants have until July 17 to reach a long-term deal with Barkley.