The franchise tag window opened at 3pm CT today, and while it is unsurprising the Giants have not made a decision, Daniel Jones‘ recent actions could push the team down the path to one soon. Jones has changed agents, and his asking price may well prompt the Giants to tag him.

The $45MM-per-year number has been floated for the former first-round pick. That figure is higher than the Giants want to go; it might be significantly higher. The Giants hoped Jones’ asking price would come in below $40MM AAV, Paul Schwartz of the New York Post notes (video link).

[RELATED: 2023 NFL Franchise Tag Candidates]

Jones upped his value considerably this season, a statistically unspectacular campaign but an efficient one that brought improvement from his first three years. A woeful Vikings defense played a part, with Jones accounting for 368 and 379 yards in the Giants’ Week 17 and wild-card round games in Minnesota. Those marked Jones’ highest and second-highest yardage outputs this season; his all-around performance in the rematch led the Giants to their first postseason win in 11 years. The 25-year-old passer is now in strong position, and his recent actions point to him maximizing it.

Regarding negotiations, however, the Giants do not appear to be too far out of the starting blocks. Prior to Jones changing agents, the sides had not officially started talks, Pat Leonard of the New York Daily News notes. Jones’ agent change merely delayed them, per Leonard, who adds this switch looks to have come about because of backchannel word ahead of the official talks. While the $45MM figure has circulated, it has not come up in official negotiations yet. Jones changing agencies does signal these discussions could bring some turbulence, but Leonard expects a deal to be finalized.

With no quarterback tied to a deal between $35MM and $40MM per annum, the latter number has become a line of demarcation of sorts. Dak Prescott and Matthew Stafford are tied to $40MM-per-year pacts. Both have obviously proven more than Jones, though the cap’s growth puts the Duke product in a good spot. Going to $45MM would move Jones past Josh Allen ($43MM per year), even though guarantees provide a better indications of contracts’ value. But the $40MM price range would put Jones in interesting company. A deal between $35-$40MM has been the expected range for Jones for a bit.

After a historically turnover-prone rookie season, Jones submitted two inferior statistical years in 2020 and 2021 — the latter an injury-shortened slate. The Joe Schoen–Brian Daboll regime, then, did not pick up his $22.4MM fifth-year option in May 2022. Despite Jones throwing 15 touchdown passes during the 2022 regular season — nine down from his 13-game rookie year — he finished with the league’s lowest interception rate and piloted a playoff-qualifying season even as various developments depleted the Giants’ pass-catching corps. But Big Blue might be forced to further weaken its skill-position arsenal to keep Jones.

New York still wants to sign both Jones and Saquon Barkley to long-term deals, Jeff Darlington of ESPN.com tweets. The tag is not expected to come out until close to the 3pm deadline on March 7. That is not uncommon; most tag business unfolds close to the March and July deadlines. But Jones will receive the tag if he is not signed by that point. That would put Barkley on track for free agency. The Giants tagging Barkley at $10.1MM would be far less constraining than cuffing Jones at $32.4MM. Big Blue would prefer this path, with a Jones extension producing a cap number low enough it would still allow for some free agency moves.

A Jones tag would not only limit the team’s options with outside free agents, it would cut into funds for a last-ditch Barkley deal. Following the tag deadline, the Giants would have six more days of exclusive Barkley negotiations; the legal tampering period begins March 13. However, the Combine will give the two-time Pro Bowl running back a good indication of what will be out there for him on the market. The team has offered Barkley a deal in the $12.5MM-per-year neighborhood, and it is believed a $14MM-AAV pact could wrap these negotiations. Thus, signing Jones by March 7 will be the best way for the Giants to retain both their offensive cornerstones.

The Titans navigated a similar situation in 2020 by re-signing Ryan Tannehill just before free agency and tagging Derrick Henry, who signed an extension that summer. The next two weeks will be telling for the Giants in their effort to retain their quarterback and running back.

With Daniel Jones and Saquon Barkley‘s free agencies happening in the same year, the Giants face the prospect of losing their two-time Pro Bowl running back. They have made their priority clear: Jones’ positional value will lead to the quarterback being the first order of business. That clouds Barkley’s Big Apple future.

The Giants did approach Barkley about an extension before Jones, entering negotiations with the former Offensive Rookie of the Year during their bye week. But GM Joe Schoen confirmed the sides did not come close on terms. The Giants were believed to have offered Barkley a deal worth around $12.5MM per year. While Barkley said he was not looking to reset the running back market, he is believed to be looking for an accord in the Christian McCaffrey neighborhood ($16MM AAV).

A compromise may be in reach, however. Should the talks move to a $14MM per year compromise, ESPN.com’s Jordan Raanan notes that is believed to be enough to finalize a deal. This would place Barkley between the first and second tiers at his position, bridging a narrow gap between the McCaffrey-Alvin Kamara plane ($15MM and up) and the field.

This might not be a splashy conclusion for Barkley’s camp, with McCaffrey’s deal having topped the market for almost three years now, but it would set up the former No. 2 overall pick to be a pivotal part of the team’s Jones-centric future. Guarantee structure would also play an obvious role in Barkley agreeing to an extension ahead of free agency, though the running back — via his draft-slot contract and fifth-year option — has already done quite well for himself.

Barkley has said he would like to return, and it would be interesting to see the Giants’ skill-position centerpiece agree to a new contract before testing the market. Feelers to potentially interested teams would undoubtedly occur, with the Combine (the illegal tampering hub) approaching. But a host of running backs being near free agency also opens the door to a buyer’s market forming at a position that has not fared too well in recent Marches. Since Le’Veon Bell‘s $13.13MM-AAV Jets deal in 2019, no running back has signed for more than $7MM annually on the open market. Each of the league’s RB deals in the $12MM-AAV range — for Dalvin Cook, Derrick Henry, Nick Chubb, Joe Mixon and Aaron Jones — came via extensions.

Then again, Barkley is more talented than just about any back to reach free agency over the past several years. Even with the prospect of Kareem Hunt, Miles Sanders, Jamaal Williams, Devin Singletary and David Montgomery hitting the market together, Barkley would reside as the clear-cut top prize. He led the league in yards from scrimmage (2,028) as a rookie and showed he could hold up for a full season in 2022, totaling 1,650 scrimmage yards and 10 touchdowns while anchoring a bottom-tier Giants skill corps. Josh Jacobs and Tony Pollard being tagged would only increase Barkley’s value.

The Giants have been linked to a willingness to match or surpass $35MM per year for Jones, and Raanan confirms the quarterback’s extension is expected to check in north of that number. Jones on this deal and Barkley at $14MM per year — on a team that has extension candidates in Dexter Lawrence and Andrew Thomas — would bring a major change from its 2022 payroll setup, thus impacting the team’s funds for outside upgrades. But the salary cap’s steady rise will be beneficial here. The cap will climb by nearly $17MM this year, moving to $224.8MM.

Conflicting reports have emerged about the Giants’ appetite for tagging Barkley, though Raanan notes a Jones extension before the tag window closes (March 7) leaving the door open for a Barkley tag is the team’s preferred option. Schoen has referenced a Jones tag, but that cap hold ($32.4MM) would hinder the Giants’ free agency plans. Tagging Barkley would cost the Giants just $10.1MM. This limits Barkley’s leverage with the team, and with the tag window opening Tuesday, the Giants’ Barkley-Jones setup remains the most interesting situation on this front.

Just less than five weeks remain until the deadline for teams to apply franchise tags. The Giants have until 3pm CT on March 7 to use their tag, and barring an unlikely scenario in which both Daniel Jones and Saquon Barkley are extended before that point, one of the team’s offensive cornerstones will be tagged.

Joe Schoen has been clear the team plans to retain Jones, and while the second-year GM did not waver from that stance this week at the Senior Bowl, he indicated conversations have not yet begun with the team’s four-year starting quarterback. Schoen, however, confirmed (via the New York Post’s Paul Schwartz) the Giants have resumed extension talks with Barkley. Schoen said he held discussions with Barkley’s camp this week and will continue to do so upon returning to New York next week.

The team prioritized Barkley in talks during its November bye week, but Schoen has since indicated the sides did not come close to a deal at that point. The Giants did submit an offer — roughly $12.5MM per year — and Schwartz notes the extension proposal is believed to be for three years. Barkley’s camp turned it down, seeking a contract closer to the running back ceiling. Though, Barkley said last month he was not looking to reset the running back market. Considering Barkley’s value to the Giants and Christian McCaffrey‘s market-topping pact ($16MM AAV) being signed in April 2020, Barkley pushing for a comparable deal makes sense. But the Giants do not appear inclined to go that high.

The Giants should not be expected to move much further north of the $12.5MM-range offer, Schwartz adds, but the prospect of a Barkley tag is cloudy. The Giants will not want a $10.1MM running back cap number on its payroll, per Schwartz, but ESPN.com’s Jordan Raanan notes the team would prefer to knock a Jones contract out and save the tag for Barkley. The latter course here would be the best way for the Giants to manage their funds while ensuring both Jones and Barkley return. A Jones tag would cost $32.42MM, thus comprising much of Big Blue’s cap space.

Maligned for years, Jones is now the team’s priority. He will be set to become the first quarterback in the fifth-year option era to re-sign with a team — via a long-term deal or the tag — after it declined his option. The Giants could have pushed Jones’ rookie contract out to 2023 by exercising the $22.4MM option. Instead, they are likely looking at a deal beyond the $30MM-per-year point. The Giants should be expected to value Jones in the $35MM-per-year range, via Schwartz. Although Jones’ late-season value rise can be partially attributed to the Vikings’ woeful defense, the Giants have turned around on the Dave Gettleman-era draftee.

“We want Daniel back,” Schoen said. “We haven’t started conversations with his people yet. Once we get into it in terms of years, contract structure, finances, I’m not really sure where they’re gonna be, what they’re asking for, we’re still working on where we’d want to start so until we get into the actual negotiations I really won’t have a good sense for years, money.”

Barkley is certainly better at his position than Jones is at his, but quarterback value obviously dwarfs the importance of backfield stalwarts. The Giants also have other needs, including potentially multiple wide receiver additions. The draft will be an avenue for New York here, but Fox Sports’ Jay Glazer expects the team to pursue wideouts in free agency (video link).

Darius Slayton‘s contract expires in March, and while the Giants have exclusive negotiating rights with the former fifth-round pick, the new regime figures to also explore the market. This free agency class does not profile as a particularly enticing receiver lot, but complementary-type targets will be available. Jakobi Meyers, DJ Chark, Allen Lazard and JuJu Smith-Schuster represent the top contingent of mid-20-somethings on track for free agency. Parris Campbell brings an extensive injury history, but the ex-Colts second-rounder surpassed 600 receiving yards for a bad offense this season.

Monitoring a Giants-Odell Beckham Jr. pursuit will be necessary as well. Beckham made his initial NFL team his first visit in December, and though the OBJ sweepstakes did not produce a deal, the Cowboys and Rams are likely to dive back into this market. Beckham turned 30 in November and missed the season, but he remains close to ex-Giants teammates Barkley and Sterling Shepard (the latter is also a UFA-to-be). The Giants passed on adding receivers via trade before the deadline, but despite Isaiah Hodgins‘ stretch-run production, this remains a glaring need. The team also has second-round pick Wan’Dale Robinson rehabbing an ACL tear.

The Giants’ situation with two of this year’s top free agents may be evolving. After the team held Saquon Barkley negotiations during its bye week and did not discuss a deal with Daniel Jones, the two offensive pillars may have flipped in priority.

Second-year GM Joe Schoen was more declarative regarding a desire to retain Jones than Barkley, citing positional value. Despite Barkley’s two Pro Bowls, retaining Jones looks to be Big Blue’s top task.

“We’d like Daniel to be here. He said it [Sunday]; there is a business side to it. But we feel like Daniel played well this season,” Schoen said, via ESPN.com’s Jordan Raanan. “He’s done everything we’ve asked him to. … We would like to have Daniel Jones back.

“We’re happy Daniel is going to be here. Hopefully we can get something done with his representatives. That would be the goal, to build a team around him where he could lead us to win a Super Bowl. It takes two. Both sides are going to have that conversation,” Schoen said. “We haven’t crossed that bridge yet. There are tools at our disposal.”

Jones, 25, enhanced his value considerably this season by piloting the Giants to their first playoff win in 11 years. A Jones agreement will make a bit of transactions history. No quarterback whose team passed on his fifth-year option — which the Giants did in May 2022 — has re-signed with that franchise. It is certainly looking like Jones will be back, and Schoen’s comments point to the four-year quarterback starter being the potential tag candidate over the former Offensive Rookie of the Year.

Schoen mentioning the tools at the team’s disposal comes nearly three months after he floated the franchise tag as a weapon to retain Barkley. The running back tag is expected to come in at around $10MM, while the nonexclusive quarterback tag is projected to check in at approximately $32MM. Tagging Jones, who fared well in the Giants’ wild-card win before struggling against the Eagles, would take a significant bite into the Giants’ free agency dollars.

The Giants are projected to hold just less than $55MM in cap space — third-most in the league. A Barkley tag, conversely, would allow for increased flexibility without venturing to restructures. Barkley’s bounce-back season notwithstanding, the Giants could be prepared to let him test free agency. The team also has Dexter Lawrence on track to land a deal likely north of $20MM per year, which likely factors into their Barkley plans as well.

“Listen, Saquon’s done everything we’ve asked him to do and he’s a good football player,” Schoen said. “Again, the positional value, we’ll get into how we want to build this team and allocate our resources. That is what it comes down to. Again, he’s a good football player. He was durable for this year. He played well and, again, he’s a guy we would like to have back.”

Barkley, 25, said Sunday he was not pushing to reset the running back market. Doing so would not be an entirely unreasonable ask, given Barkley’s value to the Giants and Christian McCaffrey‘s $16MM-per-year deal having been signed nearly three years ago. But Barkley turned down a deal in the $12MM-AAV range in November. Schoen confirmed a midseason report indicating the sides were not close on terms, and Fox Sports’ Ralph Vacchiano notes (via Twitter) Barkley’s ask is in the McCaffrey range.

With the tag still low for backs, Vacchiano adds the team is unlikely to move much higher than the $12MM range — effectively the running back second tier — ahead of free agency (Twitter link). This could create a fascinating market bid for Barkley, who would be one of the most talented backs to ever reach free agency. The five-year starter totaled 1,650 yards and 10 touchdowns in 16 games, recovering from the injuries that plagued him from 2019-21. Barkley mentioned his injury past when assessing his value, and while he wants to stay, he would be a coveted player come March.

However, this year’s running back market will be crowded. A glut of backs including most of the following contingent — Kareem Hunt, Miles Sanders, David Montgomery, Jamaal Williams, Devin Singletary Damien Harris — stands to be available. The Raiders and Cowboys have been mentioned as candidates to tag their top backs — Josh Jacobs and Tony Pollard — so it would be interesting to see these two valued via the tag and Barkley be allowed to talk with other teams. The Raiders and Cowboys, however, do not have their starting quarterback on an expiring contract. Jones’ solid season looks to have changed the Giants’ plans.

Tagging the quarterback and attempting to re-sign the running back is the opposite of how the Titans played their similar situation in 2020, when they cuffed Derrick Henry and re-signed Ryan Tannehill shortly before the market opened. The Giants are expected to talk with Jones until the new league year begins, per Raanan, who categorizes the quarterback as the team’s top priority. Teams have until March 7 to use their franchise tags.

Running back Saquon Barkley and quarterback Daniel Jones have given the Giants’ front office a lot to think about in contract years. Jones was drafted in the first round a year after Barkley, but with New York declining his fifth-year option, Jones will join Barkley in free agency this offseason.

Barkley has been fairly straightforward about his intentions. “I wanted to show them the guy they drafted is still here,” he told reporters, according to Mike Garafolo of NFL Network. “Everyone knows I would love to be a Giant for life, but I really can’t give 100 percent answers.”

Barkley certainly proved what he set out to show. This year, Barkley had his best season since he won AP Offensive Rookie of the Year in 2018, earning his second career Pro Bowl bid. This was a much-needed big year for the 25-year-old from Penn State. He showed he could stay healthy for a full season after missing multiple games in each of the three years following his rookie campaign. In doing so, Barkley also proved his early-career production was no fluke. Just like in 2018, Barkley broke 1,300 rushing yards and reached double-digit touchdown numbers.

When Barkley was asked about what he’s looking for in a new contract, ESPN’s Jordan Raanan quoted him as saying, “I’m not really too concerned with resetting the [running back] market. I’m realistic.”

It’s reasonable for Barkley to take into account his injury history when considering how his new contract will rank all-time for the position. The silver lining of the situation is that, while his contract may not reach all-time heights, he should receive one of the richer contracts this offseason for a running back. Besides Raiders running back Josh Jacobs, Barkley had perhaps the most impressive contract year for any running back. Not only that, but an impressive field of free agent running backs should drive up the price for the top end prospects at the position like Barkley and Jacobs.

Jones, on the other hand, has not been nearly as forward with his intentions, until very recently. When asked to comment on reports that he and the Giants are close to an extension, Jones responded that he doesn’t “think there’s much truth” to the report, according to Ryan Dunleavy of the NY Post. Following a much-discussed non-answer from last night, Dunleavy further reported that Jones also clarified the situation saying that he loves the Giants and would prefer to stay in New York as long as the “business side” works out.

On the business side, Jones similarly gave New York a bit to think about. Like Barkley, Jones had his best season since his rookie campaign in 2019. Jones has always been pretty good at protecting the ball but went to another level this year when he led the NFL in interceptions per attempt.

Jones may not demand top-tier money as a free agent quarterback but leading the team to the playoffs for the first time since 2016 should help boost his value a bit. The biggest free agent quarterbacks this offseason are obviously going to be Lamar Jackson and Tom Brady, but after them, Jones will be competing for value with the likes of Geno Smith, Sam Darnold, Baker Mayfield, Jimmy Garoppolo, and others.

For what it’s worth, Fox Sports’ Ralph Vacchiano claims that there is little doubt that Jones and Barkley will return to New York next season. The only issue comes down to the details of how. Can both Jones and Barkley reach new deals with the team that drafted them? Will either of them get richer offers with other teams? Will the two be unable to reach new deals at all and find themselves playing under the franchise tag in 2023?

Both have made it known that there is a desire to stay with the Giants. Now, it will be up to general manager Joe Schoen and company in the front office to figure out how to keep them in blue.

The Giants clinched their first playoff berth since 2016 this afternoon, as their surprisingly successful campaign continues. Much of the team’s performance has been attributed to new head coach Brian Daboll, but two key starters on offense have been integral as well.

Quarterback Daniel Jones and running back Saquon Barkley entered this season with varying levels of expectation and plenty of uncertainty given their statuses as pending free agents. Updates throughout the season have illustrated the team’s priorities with respect to which (if not both) players will be targeted for deals keeping them in New York through 2023. Both long-term contracts and a franchise tag are on the table, and the team’s move with one will no doubt heavily impact their actions with the other.

Providing the latest update on the situation, NFL Network’s Ian Rapoport reports that the Giants see both players as franchise contributors for 2023 “and beyond” (video link). As such, he adds, they will look to get deals done with each of them, though the presence of the franchise tag likely makes multi-year deals for both of them a stretch. Rapoport also notes, unsurprisingly, that New York will have a price point which they will not exceed during upcoming negotiations.

The Giants’ new regime under Daboll and GM Joe Schoen reportedly doubted the upside Jones would provide if he were to be retained as a long-term solution under center at the start of the campaign. The former sixth overall pick has gone on to have a career-year in spite of an injury-riddled, talent-deprived pass-catching corps surrounding him, however. His signs of improvement made it noteworthy when no contract talks were held during the team’s bye week. His continued impressive play makes the Duke product an interesting case study in how the organization will handle their first two major negotiations since the coaching and front office changes.

As for Barkley, the situation has been notably different on a number of levels given his undisputed talent and production when healthy. With the Giants believing his injury issues are behind him, he was involved in bye week extension talks. Given his position, the former second overall pick would be a more logical tag candidate than Jones; the one-year pacts are projected to carry a difference of roughly $22MM next year. However, New York has reportedly been willing to commit to a big-ticket second contract with Barkley, who entered today ranked fourth in the league with 1,254 rushing yards.

Jones and Barkley will be significant factors in any postseason success the Giants have this year, as the team continues to weigh its options on how they handle this situation. Regardless of the outcome, their intention of keeping both in the fold for at least the short- and intermediate-term future is clear.

The Giants and quarterback Daniel Jones did not engage in extension discussions prior to GM Joe Schoen‘s self-imposed Week 10 deadline to talk contract, as Jordan Raanan of ESPN.com writes. So, as expected, the contract situations of Jones and running back Saquon Barkley — both of whom are eligible for unrestricted free agency in March — will be atop Schoen’s agenda this offseason.

Interestingly, Schoen did engage in extension negotiations with Barkley and defensive back Julian Love during New York’s Week 9 bye, and while those conversations did not lead to a new deal for either player, it is notable that Giants brass did not at least check in with Jones’ camp. That is especially true in light of September reports that Schoen and first-year head coach Brian Daboll harbored “major concerns” about Jones’ viability as a long-term option.

Since those earlier reports, New York has gone 6-4, and Jones has performed much better under Daboll than he did during his first three years in the league. Still, as Raanan acknowledges, there is a difference between being a legitimate NFL starter and being a franchise cornerstone, and it is unclear if Jones’ improved play in 2022 has been enough to convince the team that he is worthy of a lengthy accord.

Indeed, Jones has not played especially well over the last two games, both of which resulted in losses that have threatened to sour a pleasantly-surprising season. On the other hand, his 58.5 QBR — supported by a 10:4 TD:INT ratio and 64.6% completion percentage — is the 10th-best mark in the NFL. He has already set career-highs with 451 rushing yards and four rushing scores, and he has compiled those numbers on a strong 5.7 YPC rate. He has also led four fourth-quarter comebacks this season, and the team’s dearth of receiving talent has made his work more impressive.

One NFC general manager tells Raanan that the Giants’ best option would be to re-sign Jones this offseason, but a different NFC exec says he does not see Jones as a franchise player. Yet another NFC exec sees Jones as a bridge option and believes a one-year, $15MM-$20MM deal would make the most sense for the Giants. However, former GM Mike Tannenbaum thinks Jones is an “ascending player” who can reasonably expect a multi-year deal worth ~$25MM/year, especially given the supply-and-demand dynamics of the QB market that benefit even flawed signal-callers.

Whether Schoen is willing to pay Jones that type of money remains to be seen, and his decision may be impacted (to some degree) by Barkley’s situation. Former NFL agent Joel Corry projects the franchise tag for RBs to come in at roughly $10.1MM, which is a better number than the ~$12MM projections that have been floated and which is much more appealing than the projected ~$31.5MM franchise tag figure for QBs (via Dan Duggan of The Athletic on Twitter).

That said, the Giants are reportedly willing to pony up a top-of-the-market contract for Barkley, and Ryan Dunleavy of the New York Post says talks between player and team were encouraging. Perhaps a multi-year contract for Barkley — which will allow the team to smooth out his 2023 cap hit — coupled with a tag for Jones will be the most satisfactory result for all parties involved.