Source: Giants sign Saquon Barkley to $31M contract | Highest-paid running back in NFL?

Before his first NFL carry, Saquon Barkley just leapfrogged several Pro Bowl running backs and 1,000-yard rushers.

Barkley, who was the No. 2 overall pick in the 2018 NFL Draft, agreed to terms on his rookie contract Sunday with the Giants, multiple sources told NJ Advance Media. It coincides with the day rookies, select veterans and quarterbacks are due to report for training camp.

The deal is worth $31.2 million over four years -- all of which is guaranteed -- with $15 million up front for Barkley, according to a source. It also includes a fifth-year team option that is standard for first-round picks.

The deal orchestrated by Kim Miale of Roc Nation Sports puts Barkley as the active running back with the fourth-highest average annual salary after franchise tagged Le'Veon Bell (Steelers), Devonta Freeman (Falcons) and LeSean McCoy (Bills), according to spotrac.com.

Tiki Barber's reaction when Saquon Barkley challenged him

Barkley is ahead of reigning NFL leading rusher Kareem Hunt (Chiefs) and Pro Bowlers Marshawn Lynch (Raiders), Todd Gurley (Raiders), Ezekiel Elliott (Cowboys) and many others.

NFL Network's Ian Rapoport initially reported terms of the done deal.

The negotiations likely took longer than expected because of a debate over offset language, which comes into play if a player is cut before the end of his rookie contract. It held up most of the deals for top 10 draft picks in 2018.

Pro Football Talk reported Barkley will not be able to double dip with money from the Giants and a new team if he is released and signed before the end of his rookie contract.

The $31.2 million guaranteed includes a $20.76 signing bonus (some will be due in October, per Rapoport) is the second-highest amount given to a running back in NFL history, topped only by former NFL MVP Adrian Peterson. He signed a seven-year, $100 million contract with $36 million guaranteed from the Vikings in 2011.

Barkley's guaranteed money -- he plans to invest it and live off endorsement revenue -- eclipses former Titans running back Chris Johnson, who received $30 million guaranteed in 2011. The $15 million payout is the highest to a rookie in at least five years, a source said.

It's official. Very proud of this guy! I can't wait to watch him continue to put in work and come out stronger every day. Congratulations @saquon!! Go big blue!!! pic.twitter.com/fxsMYcD9Hu

-- Kimberly Miale (@kimmiale) July 22, 2018

But the Giants knew all of this when drafting Barkley because rookie contracts include by-pick parameters based on a descending scale. Whether the Giants picked a quarterback, a running back or any other position at No. 2, the finalized contract was going to look similar.

The difference is an average annual salary of $7.79 million is barely a blip on the radar for quarterbacks and pass-rushers in today's salary cap market.

Teams typically look for cheaper options at running back because so many mid-round picks have had immediate success -- Hunt was a third-rounder in 2017 -- and the average career length of a running back is shorter than at other positions.

The bar for Barkley to be considered a success was set ridiculously high even before signing his contract, as multiple draft experts pegged him as the best running back in the draft since Peterson in 2007 and a future Hall of Famer.

Even Giants general manager Dave Gettleman said Barkley is "touched by the hand of God."

"I don't care what anyone says in terms of that I have to rush for this or score this," Barkley said upon joining the Giants. "It does not matter to me. I set my own expectations and have my own standards.

"If I follow that (outside expectation), I will never become a great player. It starts with myself. I have to believe in myself, set goals for myself, set expectations for myself and continue to work for those goals every single day."

The rookie salary scale implemented in 2011 takes most of the room for negotiation out of draft contracts, but Barkley's signing still is a sigh of relief for the Giants. Only fifth-round pick R.J. McIntosh remains unsigned from the draft class, including supplemental pick Sam Beal.

Defensive end Joey Bosa, the No. 3 overall pick in 2017 by the Chargers, held out until late August and missed most of training camp as a rookie. The Giants already are faced with the possibility of a holdout from star wide receiver Odell Beckham. 

Barkley practiced in rookie minicamp and OTAs based on the rookie participation agreement, which essentially assures good faith from the team that an unsigned player will receive the same contract if injured while doing football activities that he would have if fully healthy.

Ryan Dunleavy may be reached at rdunleavy@njadvancemedia.com. Follow him on Twitter @rydunleavy. Find our Giants coverage on Facebook.

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