The New York Giants and running back Saquon Barkley were not far off on a contract, but the team would not budge.

There was no 11th-hour deal between the New York Giants and running back Saquon Barkley before 4:00 p.m. ET on July 17, 2023. That time was the cutoff for the team and player to reach an agreement on a contract extension. If not, Barkley would have to play on the $10.1 million franchise tag. The thing is, Barkley has yet to sign it, and could opt to hold out in training camp and potentially the regular season.

As it turns out, the two sides weren't that far apart in getting a deal done.

According to the New York Post's Ryan Dunleavy, the Giants' final offer to Barkley was a three-year deal was "in the ballpark" of $11 million and $11.5 million per year, including guarantees between $22 and $23 million. Dunleavy writes that those numbers were "within $1 million to $2 million on both ends of Barkley's reduced asking price."

Giants, Saquon Barkley reportedly couldn't close a small gap to get a contract done

So both sides were not far off, numbers-wise, to get a deal done. However, Dunleavy mentions that the Giants and Barkley "felt that they had budged as much as they could."

As the clock ticked closer to 4:00 p.m. ET, word began to circulate that the two parties couldn't reach an agreement on an extension. Barkley then tweeted out a simple message, "It is what it is."

Barkley wasn't the only running back unable to get a deal done. Josh Jacobs and the Las Vegas Raiders were also unable to reach an agreement on an extension, meaning that Jacobs would have to play on the franchise tag. NFL Network insider Tom Pelissero reported that Jacobs sat in a car in the parking lot of the Raiders facility alongside teammate and defensive end Maxx Williams waiting for confirmation to sign a new deal. That deal never came to fruition.

After Barkley and Jacobs were unable to secure lucrative contract extensions, running backs across the league voiced their displeasure regarding teams not valuing the position any further. Those names include Christian McCaffrey of the San Francisco 49ers, Austin Ekeler of the Los Angeles Chargers, and Derrick Henry of the Tennessee Titans.

Barkley is coming off of a strong 2022 campaign, his first under new head coach Brian Daboll. He thrived in the offense alongside quarterback Daniel Jones and played a pivotal role in the team making the playoffs for the first time since 2016.

In 16 regular season games, Barkley ran for 1,312 yards and 10 touchdowns on 295 carries, while catching 57-of-76 targets for 338 yards. In the team's two playoff games against the Minnesota Vikings and Philadelphia Eagles, Barkley recorded 114 rushing yards and two rushing touchdowns on 18 carries and caught 7-of-9 targets for 77 yards.

Now, the question remains as to when Barkley will report to the team and sign his franchise tag. But in regards to a new contract extension, that cannot be negotiated until the conclusion of the upcoming season. Let's just say that the 2023 campaign just got a lot more interesting for the Giants.