Reporter suggests Giants can extend Pro Bowl RB and save cap space

Per OverTheCap, New York has $5.51M in cap space, 24th in the NFL.

"There are plenty of avenues to create the necessary cap space," wrote The Athletic's Dan Duggan. "An extension for running back Saquon Barkley could lower his $10.1M cap hit on the franchise tag by $4M or $5M."

Barkley rejected the franchise tag (a one-year, $10.1M deal) before the Giants offseason program began in April to get a longer contract. New York agreeing to an extension with the 26-year-old RB solves this problem.

The Giants could reduce his 2023 cap number by stretching his salary throughout the deal. For example, San Francisco's Christian McCaffrey, the league's highest-paid RB, has a four-year, $64M contract, but his 2023 cap number is only $3.4M.

Yet they must consider the long term, too. Although paying Barkley saves money in 2023, it could add up over time.

Bob Brookover of NJ Advance Media reported that Barkley's camp rejected a deal that would've earned him up to $14M. Per Pat Leonard of New York Daily News, Barkley wants more than McCaffrey ($16M). Barkley's agent Kimberly Miale recently denied that Barkley remains firm on this stance and isn't willing to compromise.

Additionally, signing a back to a massive deal carries risk, especially one who's battled injuries such as Barkley. Over the past four seasons, he's missed 22 games.

Nonetheless, Barkley had a career-high in rushing yards (1,312) last season and made his second Pro Bowl. If the Giants sign him and it doesn't work out, they can develop rookie RB Eric Gray into a potential replacement.

The Giants should try to get an extension with Barkley before July 15, the deadline for long-term deals, since the benefits outweigh the costs.