NFL Free Agency Contracts Spell Disappointment for Josh Jacobs and Other Running Backs

February 24, 2023

Hunter Macias

NFL Free Agency Deals Crush Running Backs' Hopes, Including Josh Jacobs!

Las Vegas Raiders

The article discusses the realities that running backs face in securing lucrative NFL contracts, despite their Pro Bowl and All-Pro talents. The 2023 free-agent class boasts top talents, but it's unlikely that any of them will receive massive deals that reset the market. The highest-paid running backs on Super Bowl-winning teams have had modest salaries of $2.5 million or less. The article takes a closer look at the team situations of the top impending free-agent running backs, such as Josh Jacobs, David Montgomery, and Saquon Barkley, and discusses why the open market may not be as favorable as they hope. It also provides projected contracts for each player, which are lower than expected due to the realities of the market.

As we head into the offseason, it's important for running backs to be realistic about their expectations when it comes to securing a lucrative NFL contract. While the 2023 free-agent class boasts Pro Bowl and All-Pro talent, it's unlikely that any of them will receive megadeals that reset the market. In fact, some of the top names may have to settle for the franchise tag.

It's worth noting that the top earners among running backs in annual salary have all signed extensions with the teams that drafted them. Meanwhile, the leading rushers from last season played for clubs that missed the playoffs, and the highest-paid running backs on Super Bowl-winning teams have had modest salaries of $2.5 million or less.

It's worth noting that the top earners among running backs in annual salary have all signed extensions with the teams that drafted them. Meanwhile, the leading rushers from last season played for clubs that missed the playoffs, and the highest-paid running backs on Super Bowl-winning teams have had modest salaries of $2.5 million or less.

Take the example of Isiah Pacheco, the seventh-round pick who led the Kansas City Chiefs in rushing as a rookie last year. His success, combined with the modest investments made in the top ball-carriers on the biggest NFL stage, may cause teams to reconsider signing players at the position to massive extensions. Now, it's worth mentioning that when you have a generational talent like Patrick Mahomes the job of the RB often becomes easier as defenses throw much of their resources into trying to slow down the Chiefs passing game.

With that in mind, let's take a closer look at the team situations of the top impending free-agent running backs (coming off rookie contracts) and why the open market may not be as favorable as they hope.

Josh Jacobs

Despite Josh Jacobs' impressive performance as the rushing champion in 2022, it seems unlikely that he will reset the running back market this offseason. Jacobs has come to terms with the reality that he may have to settle for significantly less than expected.

In an interview with Pro Football Talk's Mike Florio and Chris Simms during the Super Bowl week, Jacobs stated that he would play on the $10.1 million franchise tag if the Las Vegas Raiders load up on talent around him. However, Jacobs provided one caveat.

"If you want me to come back as the hero, you better pay me like a hero," he said.

Despite Josh Jacobs' impressive performance as the rushing champion in 2022, it seems unlikely that he will reset the running back market this offseason. Jacobs has come to terms with the reality that he may have to settle for significantly less than expected.

In an interview with Pro Football Talk's Mike Florio and Chris Simms during the Super Bowl week, Jacobs stated that he would play on the $10.1 million franchise tag if the Las Vegas Raiders load up on talent around him. However, he also noted that if the team wants him to come back as the hero, they better pay him like one.

Jacobs carried a heavy load in 2022 as one of the league's few workhorse running backs, finishing with 1,653 rushing yards and 12 touchdowns, as well as the most scrimmage yards at 2,053. With his impressive performance, Jacobs would be grossly underpaid at a shade over $10 million if the team tries to rely on him as much as they did this past year.

Nonetheless, However, the Raiders have several holes to fill in their roster, particularly at guard, right tackle, and on the defense. If they want to bring in quarterback Aaron Rodgers, they would need to allocate cap space for his significant contract. Additionally, if they pursue quarterback Jimmy Garoppolo in free agency, they may have to set aside $34.9 million, his projected market value per Spotrac.

As the Raiders work to address their pressing roster needs, Jacobs may have to play out the year with the franchise tag or accept a deal worth less than $15 million annually, slightly below the top three earners at running back. Jacobs has proven himself as a top-tier running back, but the realities of the market may dictate a lower-than-expected payday for him.

Projected contract: One year, $10.1 million (franchise tag)

David Montgomery

As the offseason rolls on, the Chicago Bears have some decisions to make regarding their running back situation. While quarterback Justin Fields led the team in rushing (1,143 yards) last season, David Montgomery and Khalil Herbert split the remaining carries out of the backfield (801 & 731 yards). Despite both backs putting up solid rushing numbers, the Bears may choose not to re-sign Montgomery with Herbert set to make less than $1 million in 2023.

Furthermore, the upcoming free-agent running back class is full of quality options, which could make it difficult for Montgomery to secure a large contract. According to The Athletic's Adam Jahns, Montgomery is looking for a team-player-friendly deal, indicating that he may be willing to take less money to stay with the Bears.

Had Montgomery been a free agent in a weaker class, he may have been able to push for a larger contract in the range of $8-9 million per year. However, given the quality of the current class, it's unlikely that he will receive an eight-figure annual salary.

Projected contract: Three years, $20 million (12.1 million guaranteed)

Saquon Barkley

The New York Giants leaned heavily on Saquon Barkley in the 2022 season, with the running back recording a career-high 295 carries and 352 total touches. Although he achieved his second-highest scrimmage yards in a single season, Barkley is not expected to receive a massive contract this offseason. Not to mention Barkley finished with the third-most votes for Comeback Player of the Year

One reason for this is Barkley's injury history, which may give potential buyers pause. While he played all but one game in the 2018 and 2022 seasons, he missed 21 games in total between 2019 and 2021.

Additionally, Barkley's contract negotiations may be impacted by the Giants' need to retain quarterback Daniel Jones. The signal-caller reportedly wants $45 million per year, and if the team wants to keep him, they may have to pay him $40 million or more in the near future. As a result, Barkley may have to settle for a lesser deal if he wants to stay with the Giants.

During the team's Week 9 bye, the Giants offered Barkley a $12 million annual contract, but he declined it, reportedly seeking a deal near Christian McCaffrey's $16 million average. While it's unlikely that Barkley will receive top-of-the-market salary wherever he signs in free agency, sources suggest that he may receive a contract worth around $14 million per year from the Giants.

Projected contract: Four years, $56 million ($33 million guaranteed)