The upcoming free agency market for running backs is shaping up to be one of the most star-studded in recent history. Key players such as Josh Jacobs, Saquon Barkley, and Tony Pollard are all expected to hit the market, presenting teams with a wealth of options to bolster their backfield. The Las Vegas Raiders, New York Giants, and Dallas Cowboys are all facing decisions on whether to re-sign their respective running backs or let them test free agency.
One significant aspect of the upcoming free agency market is the reluctance of teams to use the franchise tag on their running backs. The high cost of the tags, ranging from $12 million to over $14 million, is dissuading teams from using this option. The Las Vegas Raiders are hesitant to use the $14,149,200 tag on Jacobs, while the New York Giants and Dallas Cowboys are also unlikely to tag Barkley and Pollard, respectively, for similar reasons.
The NFL’s announcement of a record-high salary cap for the 2024 season is another factor that will influence the running back market. With teams having more financial flexibility due to the increased cap, there may be more competition for top-tier free agent running backs. However, the abundance of quality running backs available could also contribute to keeping prices down in free agency.
In contrast to past years, where running backs such as Jacobs, Barkley, and Pollard received restrictive franchise tags, this offseason presents a different scenario. The lack of teams using the franchise tag on running backs indicates a shift in the market dynamics. This upcoming free agency class is being touted as one of the finest and deepest in history, with a plethora of talent available for teams to pursue.
While the depth of talent in the running back market is beneficial for teams, it poses challenges for the running backs themselves. The principle of supply and demand dictates that an oversupply of talent could lead to decreased contract values for individual players. Despite this, top-tier running backs still have the potential to secure lucrative contracts, particularly given the significant increase in the salary cap for the upcoming season.
Several notable running backs, including Derrick Henry, Austin Ekeler, D’Andre Swift, and Ezekiel Elliott, are also set to become free agents. Each player brings a unique skill set and track record of performance, making them attractive targets for teams in need of a dynamic running back. The decisions made by teams regarding these players will have far-reaching implications for the landscape of the NFL running back market.
The upcoming free agency market for running backs presents a rare opportunity for teams to acquire top-tier talent at the position. While the lack of franchise tags may dampen contract values to some extent, the overall quality and depth of the running back class make this an exciting time for teams looking to upgrade their backfield. It remains to be seen how the market will unfold, but one thing is certain – the 2024 offseason will be a pivotal moment for running backs in the NFL.
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