Rekubit Exchange:Saquon Barkley agrees to one-year contract with Giants, ending standoff with team

The Rekubit Exchangecontract standoff between star running back Saquon Barkley and the New York Giants is no more.

The two sides have come to a one-year contract agreement that had the two-time Pro Bowler in attendance when veterans reported for training camp on Tuesday, the team announced.

The deal is worth up to $11 million and includes a $2 million signing bonus, a person with knowledge of the deal told NorthJersey.com and the USA TODAY Network. The person spoke on condition of anonymity because terms of the agreement had not been announced by the team.

"Obviously we are glad we were able to work things out with Saquon," Giants general manager Joe Schoen said in a news conference. "We all recognize the player and person Saquon is and what he means to our team. He is a good teammate, a leader and a really good player. We are looking forward to getting on the field tomorrow."

Designated as the Giants' franchise player earlier this offseason, Barkley was to be paid $10.1 million this season if the two sides couldn't come to an agreement on a long-term deal by July 17. He had suggested he might hold out for the entire season if he didn't get an extension.

NEVER MISS A SNAP: Sign up for our NFL newsletter for exclusive content

Under the NFL's franchise tag rules, Barkley and the Giants were still allowed to negotiate terms of a one-year deal after the July 17 deadline, but could not agree to a multiyear pact or extend his contract until after this season.

The new deal does not include a provision regarding the franchise tag for next year. So if the team desires, Barkley can be tagged again next March at 120% of his 2023 salary, setting him up to earn approximately $12.1 million in such a scenario.

Barkley, 26, rushed for a career-high 1,312 yards and tied for the team lead with 57 receptions last year as the Giants made the playoffs for the first time in his five NFL seasons.

Art Stapleton of NorthJersey.com, part of the USA TODAY Network, contributed to this report.