Negotiations are getting tense for the New York Giants and Saquon Barkley.
But are they tense enough for the team to pivot to another star running back?
Big Blue could go nuclear in contract talks by fully rescinding Barkley’s franchise tag and pivoting to free agent ex-Vikings star Dalvin Cook on a cheaper deal, according to NFL Network insider Peter Schrager.
Barkley, who still hasn’t signed his franchise tender and said he plans to hold out from Giants’ minicamp, would then become a free agent who could sign with any team.
“It’s a Machiavellian league,” Schrager said on Good Morning Football on June 9. “What if (the Giants) took Saquon off the franchise tag, let him be free, and brought in Dalvin Cook instead for half the price?”
Cook and Barkley are two different running backs. But theoretically, they’ve provided comparable game-changing value for their respective franchises.
Cook has the edge in production. The 27-year-old Florida State product has rushed for over 1,100 yards in four consecutive seasons, including a 1,557-yard campaign in 2020. He also has 15 more touchdowns in his career than Barkley does over 13 more career games, per Pro Football Reference.
Barkley, 26, has two 1,300-yard rushing seasons in New York. The former No. 2 overall pick might not have another unless he agrees to a long-term deal by the league’s July 17 deadline for tagged players.
A holdout isn’t out of the question if that deadline is passed, according to ESPN’s Jordan Raanan. But that deadline can be avoided altogether if Big Blue makes the very bold move to swap their top runner for someone like Cook.
Would — and should — the Giants ever consider a star running back swap like this? Here’s what else you need to know about Barkley, Cook, and Big Blue’s backfield.
Should Giants Actually Swap Saquon Barkley for Dalvin Cook?
New York might gain more short-term financial freedom with a Barkley-Cook swap.
It also might gain some potentially serious long-term headaches.
Schrager believes Cook’s next deal could come in between $4 million and $7 million. That’s significantly less than the $10 million deal NFL Network’s Tom Pelissero thinks Cook is looking for after his June 9 release.
If Schrager is right, New York would stand to save money against its $3.8 million cap number by switching to Cook.
Barkley is already set to make $10.0 million this year on the franchise tender. He has walked away from offseason offers worth $12 and $14 million annually, according to Raanan and FOX Sports’ NFC East reporter Ralph Vacchiano.
The key question: Are any potential cap savings with Cook really worth it?
Barkley isn’t just an elite rusher who just helped key a playoff season. He’s a 2022 team captain that other players look to for leadership. Moving on a player like that in June — when most free agents have found new teams — could be too “cutthroat” for New York’s front office, according to GMFB co-host and ex-Giant Shaun O’Hara.
“Cold-blooded is what comes to mind,” O’Hara said in response to Schrager’s trade proposal. “To pull the rug out— to pull that tag out from Saquon Barkley — I don’t know what kind of damage that does within the locker room.”
New York’s new regime has made a point to change the locker room culture. However lucrative, a Barkley release might set those efforts back quite a bit.
What Would Happen If the Giants Moved on From Saquon Barkley?
New York knows what a player move looks like when it backfires.
It’d be a gamble to let Barkley hit the market, where a rival team like the Philadelphia Eagles could sign him like they signed ex-Giants star cornerback James Bradberry last offseason. It’d be an even bigger gamble to assume Cook would backfill Barkley rather than sign elsewhere.
Barkley’s prospects are just as grim, according to Heavy Sports NFL reporter Matt Lombardo.
Only two ballcarriers, Carolina’s Miles Sanders and Detroit’s David Mongtomery, earned more than $6 million on the 2023 free agent market, per Spotrac. And NFL decision-makers told Lombardo they believe that trend will continue — even for backs of Barkley’s caliber.
“There’s no doubt this league is moving away from big second contracts for the top running backs,” one anonymous agent told Lombardo. “If I were advising Saquon, I would do a three-year deal worth $30 million… that would be three years of the current going rate for a franchise running back.”
Barkley might find other suitors, like the Bears. New York might find other running back replacements, like rookie Eric Gray. But the two sides are much likelier to find middle ground than they are to divorce.
Said Barkley: “I’ve been in talks with the Giants throughout the offseason. If at some point there’s a deal that is fair to both sides on the table, I’ll be ready to sign.”
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Insider: ‘Cold-Blooded’ Giants Could Swap Saquon Barkley for New Star RB