New York Giants apply franchise tag to DE Jason Pierre-Paul

Nov 6, 2016; East Rutherford, NJ, USA; New York Giants defensive end Jason Pierre-Paul (90) tackles Philadelphia Eagles running back Darren Sproles (43) during the first half at MetLife Stadium. Mandatory Credit: William Hauser-USA TODAY Sports
Nov 6, 2016; East Rutherford, NJ, USA; New York Giants defensive end Jason Pierre-Paul (90) tackles Philadelphia Eagles running back Darren Sproles (43) during the first half at MetLife Stadium. Mandatory Credit: William Hauser-USA TODAY Sports /
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After a couple of weeks light on NFL news, teams are making moves this week. The Giants are no exception, as they have placed the franchise tag on defensive end Jason Pierre-Paul.

On the eve of free agency, franchises must make decisions on applying the franchise tag on certain players. The tag gives teams until July 15th to reach a long-term agreement with the designated player or else they will play under a one-year deal that pays them amongst the most highly paid at their position. Franchised players can negotiate with other teams in free agency, but it is limited. The team that franchised them have the right to match offers or else receive draft pick compensation.

The franchise tag is applied to pending free agents who are highly valued by their teams. As of now, Pierre-Paul is the sixth player to receive the tag. He joins Chandler Jones of the Cardinals, Kawann Short of the Panthers, Le’Veon Bell of the Steelers, Melvin Ingram of the Chargers and Kirk Cousins of the Redskins. The Giants now have until July 15th to sign Pierre-Paul to a deal or else they will have to pay him roughly $16.9 million for next season.

The 28-year-old Pierre-Paul rebounded nicely from an off-season fireworks accident to contribute to the Giants in 2016. He registered seven sacks in 12 games before going down with a sports hernia injury. Pro Football Focus graded out Pierre-Paul as their 13th best edge defender last season, with a season grade of 86.2. He answered questions about his ability to return at a high level. The Giants still clearly value him as one of the best edge defenders in the league as a result.

Next: Free agency destinations for Adrian Peterson

After Pierre-Paul’s franchise cap hit, the Giants will enter the off-season with only $16 million in cap space. New York will pay Olivier Vernon and Pierre-Paul to be the second and third highest paid defensive ends in football, respectively. As a result, this move likely ensures that the Giants will be unable to afford Adrian Peterson, who has been rumored there.

New York will seek to build off of their 2016 season, and retaining Pierre-Paul should help.