The Giants took the first step toward retaining free agent Jason Pierre-Paul by applying the non-exclusive franchise tag to the defensive end on Monday, Dan Duggan of the Newark Star-Ledger reports.
Pierre-Paul was set to become an unrestricted free agent next week. The deadline to apply the franchise tag is this Wednesday at 4 p.m.
By applying the non-exclusive franchise tag, the Giants have ensured that they will have the ability to keep Pierre-Paul. But the situation is not yet resolved.
The franchise tag guarantees Pierre-Paul a one-year guaranteed contract worth approximately $17 million for the 2017 season. The Giants and Pierre-Paul will enter negotiations for a long-term contract that will likely give him more guaranteed money, while lowering his salary cap hit for next season.