National Football League

Giants' offseason needs go far beyond re-signing Daniel Jones, Saquon Barkley

Updated Feb. 23, 2023 6:04 p.m. ET

They were among the biggest surprises in the NFL last season, roaring to a 6-1 start under new coach Brian Daboll. Then they stumbled to a 3-6-1 finish. They still made the playoffs for the first time in six years, and even won a game on the road in Minnesota. Then they were blown out by the Eagles one week later.

That's a snapshot of the puzzling reality the Giants face this offseason: They seem so close, yet so far.

And that puts GM Joe Schoen in a dangerous place as he navigates key decisions about the Giants' franchise quarterback and running back, and as he decides how to spend the salary cap space he painstakingly cleared last offseason. Do they go all-in and build on what they have after a surprising season?

Or does he treat this like the rebuilding project he expected it would be when he was hired last year?

Here's a look at the Giants' offseason situation and the key questions and decisions they will face:

Estimated Cap Space

$47 million (per OverTheCap.com). They can clear another $6.7 million by cutting WR Kenny Golladay.

Key Free Agents

QB Daniel Jones, RB Saquon Barkley, S Julian Love, C Jon Feliciano, WR Darius Slayton, C/G Nick Gates, LB Jihad Ward

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Coaching Carousel

Both Giants OC Mike Kafka and DC Wink Martindale will be back with their staffs largely intact, despite being hot names on the offseason head-coach interview circuit. Martindale was a finalist for the Indianapolis Colts' job. Kafka interviewed with the Panthers, Texans, Colts and Cardinals and was a finalist in Arizona.

Three Biggest Needs

1. Wide receiver

The Giants' three best receivers most of the season weren't in their top four heading into training camp. The best of the group was probably Isaiah Hodgins (33 catches, 351 yards, four touchdowns in eight games) and he might be their fourth receiver next season. If the Giants want any kind of consistent passing attack, they need a No. 1 and 2 receiver to go with Hodgins and Wan'Dale Robinson (23-227-1 before tearing his ACL).

Unfortunately, the free-agent receiver market isn't good. Maybe the Giants will take a one-year flier on a veteran. They certainly won't go all-in the way they did with Golladay two years ago (when they gave him a four-year, $72 million deal). Their best bet here is the draft. They'll pick 26th in the first round, and it feels pretty safe to pencil in a receiver at that spot.

2. Cornerback

Their best corner was Adoree' Jackson, and he played only 10 games. After that, they spent the season trying to patch the group together. The Giants will need to add at least one corner in free agency. And that's assuming Jackson is back. They could clear $8.6 million in cap room by cutting him (a pay cut seems more likely).

There are some good options available in free agency, including some who won't cost a fortune. A reunion with former Giant James Bradberry would be nice, but he might be the most expensive corner on the market.

3. Center/guard

The Giants have their tackles of the future in Andrew Thomas and Evan Neal, but the interior of their line needs some work. Re-signing center Feliciano would be fine in the short-term, but he's 31, so the Giants need a younger center, probably from Day 2 of the draft. They also need some reinforcements at guard. The pass protection and run blocking was better last year, but they have a long way to go to become consistently competitive.

(Note: If either Jones or Barkley leaves, then quarterback and/or running back would vault to the top of this list).

Three Key Questions

1. Will QB Daniel Jones get the mega-deal he's seeking?

The Giants insist Jones is coming back, one way or another, and they've already opened up talks on a long-term deal. Ideally they'd want to get him in at around $35 million per year, according to a source. Jones wants more and sees his market value as being more in the $40 million-plus per year range, another source said.

The Giants will use the $32.4 million franchise tag if they have to, and they hope the threat of that will bring Jones' price down. But the QB's new agents know the Giants don't want to tie up that much cap room in one player, and that they might need to use the tag on Barkley. Plus, after the Giants passed on Jones' fifth-year option (which would've been $22.4 million), the quarterback proved his worth with a breakout season when he was, at times, the only good thing about the Giants offense.

People on both sides still seem to think a long-term deal is likely, but it might come right down to the wire — the March 7 deadline for using the tag.

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2. Is RB Saquon Barkley worth the money they might have to pay to keep him?

The Giants talked with Barkley's reps about a contract extension during the bye week, when they let him know they were willing to pay around $12 million per year, according to a source. That same source said Barkley was looking for a deal closer to the $16 million average that 49ers star Christian McCaffrey gets.

Barkley has since said he's "not really too concerned about resetting any markets" — an indication he'll take less than McCaffrey. But that might mean $14 million per year, which could still be out of the Giants' range. Some NFL people who know Schoen don't believe he wants to invest that much in any running back. The $10.1 million franchise tag is a viable option, but only if they don't have to use a tag on Jones.

3. Can they get enough weapons for Jones (or their new QB) to make this offense work?

When Schoen starts doling out his cap space and draft capital, finding weapons will be his most important job. But he needs a lot of them. He has to find two receivers, at least. He could use an upgrade at tight end. And if they can't keep Barkley he'll need a running back, too.

That's a lot to ask in one offseason, especially when he also needs cornerbacks and offensive linemen. But weapons have to be the priority. The Giants won nine games with one of the least consistent and lowest-powered passing attacks in the NFL. Imagine what they could've done if Jones had even one receiver who could break open a game.

Offseason Outlook

Despite all the work Schoen did last offseason to clear future cap room, don't expect the Giants to go on a spending spree. They know they're not a couple of free agents away from being a perennial contender. They know they have to build this thing through the draft. Besides, as exciting as $47 million in cap room sounds, that will shrink quickly once they lock in Jones and/or Barkley. And if they have to franchise Jones, they really won't have much cap room to work with at all.

So expect targeted but not flashy spending in free agency and a focus on offense in the draft. There's a lot of speculation that Schoen might try to trade for a receiver, the way the Bills did with Stefon Diggs (Schoen was the assistant GM in Buffalo at the time). It's a nice thought, but keep in mind that would cost the Giants draft capital and probably plenty of cap room, which doesn't sound like something Schoen would want to do.

Ralph Vacchiano is the NFC East reporter for FOX Sports, covering the Washington Commanders, Philadelphia Eagles and New York Giants. He spent the previous six years covering the Giants and Jets for SNY TV in New York, and before that, 16 years covering the Giants and the NFL for the New York Daily News. Follow him Twitter at @RalphVacchiano.

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