New York Giants running back Saquon Barkley is heading for free agency for the first time in his career, avoiding the franchise tag ahead of Tuesday’s deadline to apply the restrictive marker.

General manager Joe Schoen said last week that the Giants weren’t taking the tag off the table, but the team opted against tagging Barkley for a second straight year because of a cost of $12.1m, according to multiple reports.

“We don’t want to do it. In a perfect world, we don’t want to do that again,” Schoen said.

The free agent market may not produce a massive payday for Barkley based on the apparent devaluation of the running back position.

The unrestricted free-agent market at running back is stacked this offseason, with Josh Jacobs (Las Vegas Raiders) and Tony Pollard (Dallas Cowboys), who were also tagged in 2023, plus Derrick Henry (Tennessee Titans) and Austin Ekeler (Los Angeles Chargers) all out of contract.

Being tagged in 2023 irked Barkley, who has since made it clear he felt the Giants were disloyal by not making a long-term commitment. After a career-high 1,312 rushing yards in 16 games in 2022, Barkley settled for an adjusted one-year tender offer for the 2023 season. But he skipped voluntary exit interviews with head coach Brian Daboll under an “open door” policy and said he was “numb” to the business side of the NFL.

Schoen said last week the Giants met with Barkley’s new agent during the combine and expressed optimism about coming to an agreement with the two-time Pro Bowl selection.

“I think we’ve all grown – Saquon, myself, the organization, through the last 12, 13, 14 months,” Schoen said, noting that Barkley’s new agent, Ed Berry, is someone with whom they have a “really good” relationship. “Saquon may be in a different place now than he was then in terms of understanding the market and the business side of it. I’m looking forward to having those conversations with him.”

Drafted by the Giants with the No 2 pick in the 2018 draft, Barkley started all 14 games he played in last season, rushing for 962 yards and six touchdowns. He also caught 41 passes for 280 yards and four scores.

In six seasons with the Giants, Barkley has rushed for 5,211 yards and 35 touchdowns on 1,201 carries in 74 games. He also has 288 receptions for 2,100 yards and 12 touchdowns.

Possible landing spots

Houston Texans: The Texans are operating on an accelerated timeline, thanks to the exploits of quarterback CJ Stroud in his rookie year. They will have their eyes on the AFC title game next season. While they were a dynamite passing attack last year, Houston struggled to move the ball consistently on the ground. Current lead back Devin Singletary is a solid runner, but he lacks Barkley’s homerun-hitting potential. With oodles of cap space, the Texans can put together a competitive offer to bring more juice to their backfield.

Philadelphia Eagles: Philly GM Howie Roseman will explore any and all ways to upgrade his team. And the Eagles are operating in a rarefied air as an NFC side who know they will be competing in 2024. D’Andre Swift is a free-agent this offseason, leaving the Eagles with just one running back under contract on their roster. Barkley has been inconsistent and has a patchy injury record, but he’s a dynamic back who could elevate an Eagles offense that looked out of ideas by the end of last season.

Green Bay Packers: How about a Jordan Love-Barkley backfield? The Packers already have fantasy football darling Aaron Jones and AJ Dillon on their roster. But Jones is 29, and Dillon is more of a between-the-tackles thumper than someone who contributes in the passing game. If Jones is to return to Green Bay next season, he’s liable to take a significant pay cut, as he did last season. Barkley would more neatly fit with Green Bay’s youth movement on offense and add a fresh skill set to a running back room in need of an injection of talent.

Chicago Bears: The Bears have $63m in cap room to go shopping with this offseason. By the time next season rolls around, they’re likely to have a new, rookie quarterback at the helm. There are probably more effective ways to splash this over the long-term, but Barkley would bring a dynamism to an offense that has been sorely lacking any outside Justin Fields in the past two seasons. If Fields moves on, Chicago will need more production from their backs.

Baltimore Ravens: The tastiest fit would be alongside Lamar Jackson in one of the most run-oriented offenses in the league. The Ravens finished tops in the NFL in 2023 in rushing attempts per game, rushing yards per game and yards per carry. Through dint of Jackson and Todd Monken’s scheme, the Ravens will always churn out a strong game. But with Barkley’s ability to flex from the backfield to a receiver spot, they could push their offense to a new level in 2024.