The Giants’ pivotal moment with Saquon Barkley occurred about 18 months ago, when they re-signed Daniel Jones and applied the franchise tag to their Pro Bowl running back just before the deadline. Despite additional negotiations, a deal was not reached, eventually leading Barkley to Philadelphia.

Jones’ contract worth $160 million over four years, with a fully guaranteed salary in 2024, altered the Giants’ course with Barkley. General Manager Joe Schoen elaborated on this during the premiere episode of HBO’s offseason Hard Knocks. As the front office discussed Barkley’s status before free agency, Jones’ contract was a significant factor in their decision regarding Barkley’s worth to the team.

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“We need to improve the offensive line, especially considering we’re paying [Jones] $40 million. It’s not to just hand off to a $12 million back,” Schoen explained (source: Ryan Dunleavy of the New York Post). “My focus is to enhance our offensive line during free agency. With the 6th pick, there’s a chance for an offensive weapon. This is Daniel’s year.”

Following limited investments in guards the previous year, the Giants bolstered their offensive line by signing Jon Runyan Jr. to a three-year, $30 million deal and bringing in Jermaine Eluemunor on a two-year, $14 million contract. Both are expected to start at guard, assuming Evan Neal returns from injury on time to resume his role at right tackle. They will provide protection for Jones and Devin Singletary, the plan for the post-Barkley era, who has connections to Schoen and Brian Daboll dating back to their time in Buffalo.

In the spring, Barkley mentioned that the Giants did not submit an offer among the four teams that did. In a meeting with owner John Mara earlier in the year, Schoen indicated that offering a deal within the Giants’ range might disrespect Barkley, who had been the focal point of their offense.

“We won’t use the franchise tag on him. Unless it drops significantly, like to $7 million, offering that much might be disrespectful,” Schoen informed Mara. “There’s 31 other teams, and if even one is open to a deal, then we’ll see. Otherwise, we’ll let you enter free agency, gauge your market, and then we can have further discussions if we’re able to match it.

“Given Daniel’s high salary, we need to determine if he’s the right fit and protect him. We must invest in the offensive line. We’ll need to find a new running back while upgrading the protection to give him a fair chance.”

Mara expressed a desire to re-sign Barkley in an ideal scenario, as negotiations began during the Giants’ bye week in 2022. However, Barkley ultimately signed a three-year, $37.75 million deal with the Eagles. After the Giants offered around $22 million in guarantees in July 2023, Barkley’s total guaranteed earnings between his franchise tag in New York and his Philadelphia contract will amount to $36.1 million.

Schoen and his team weighed the option of a tag-and-trade, but ultimately decided against it due to the cap hit and expected low trade compensation. They also questioned the disparity in valuations for running backs across the league. This scrutiny proved crucial, as varying evaluations did exist.

Despite Barkley receiving a $26 million full guarantee, no other running back secured more than $14 million at signing (D’Andre Swift). Schoen mentioned the franchise tag as a potential tool for the Giants at the Combine, but it seems they did not seriously consider that route.

During discussions with Mara, Schoen underestimated the demand for veteran running backs by assuming that quality options would still be available in the second week of free agency. However, the tampering period’s first day saw a flurry of running back deals, with most starter-level players agreeing to terms within hours of free agency opening unofficially. The Giants acted swiftly, securing Singletary on a three-year, $16.5 million deal (with $9.5 million fully guaranteed) shortly after Barkley’s departure to Philadelphia.

The Giants’ interest in another deal with Barkley was impacted by his age (27) and his career workload compared to Singletary’s. Despite only being slightly younger, Singletary has fewer touches (1,063) compared to Barkley’s 1,489 touches, who accumulated this total despite missing numerous games due to injuries between 2019-2023.

With their commitment to Jones for 2024 (per his guarantee structure), the Giants must now navigate their path with the former first-round pick. Nearly a year and a half after deciding between Jones and Barkley, the team’s long-term decision will unfold in the NFC East this season.