NY Giants offseason begins with risky strategy for pending free agents

While the decision to not place the franchise tag on running back Saquon Barkley wasn’t shocking, the New York Giants are catching many by surprise by allowing safety Xavier McKinney to test free agency.

Per NFL Network's Ian Rapoport and Mike Garafolo, the Giants will not use a tag (franchise or transition) on McKinney, meaning he will be a free agent at the start of the new league year, barring the two sides agreeing on a contract extension before then.

There was reportedly a “very strong possibility” that the Giants would transition tag McKinney, per Ryan Dunleavy of the New York Post. Ultimately, the team has elected to let their 2020 second-round pick hit the open market.

NY Giants will not use a tag on Xavier McKinney despite clear importance

Coming off a career year in 2023, McKinney has been vocal about his desire “to be appreciated in every way,” suggesting that he is seeking a big payday the G-Men seem reluctant to give him.

This past season, McKinney recorded 116 combined tackles, 11 pass deflections, three interceptions, two fumble recoveries, and a forced fumble, finishing as PFF’s fourth-highest graded safety (87.8). 

McKinney and Giants linebacker Bobby Okereke were the only two defenders in the NFL to play every snap this season, per Greg Auman of Fox Sports, highlighting the former’s importance to New York’s defensive unit.

So, what’s next for the Giants? What do they do next after letting two of their five best players explore other options?

NY Giants offseason starts on the wrong foot

Could the G-Men be heading towards a potential franchise rebuild in a critical offseason for general manager Joe Schoen and head coach Brian Daboll? 

With the league’s second-youngest roster and roughly $41 million in cap space coming off a disappointing 2023 campaign, the Giants may not feel inclined to make lucrative long-term commitments to McKinney and Barkley, who play positions with a depreciated market value in today’s NFL.

However, CBS Sports’ Josina Anderson stated that “the door is still open for him [Barkley] to return to the NY Giants for the remainder of his career,” which conflicts with previous reports about his looming free agency and interest in joining the Houston Texans.