The Giants informed Jason Pierre-Paul late Monday afternoon of their intention to use the franchise tag that would keep the star defensive end under contract for the 2017 season, a source confirmed to The Record.
Pierre-Paul was set to become an unrestricted free agent March 9, but the two sides have been working toward a long-term agreement to prevent him from hitting the open market.
Under the franchise tag, Pierre-Paul would be paid an estimated $17 million for one season and he would then be eligible for free agency in 2018.
The Giants want Pierre-Paul to stay, however, and their 2010 first-round pick has expressed a similar desire to remain with the franchise. The expectation now is that the two sides will continue to negotiate what Pierre-Paul hopes will be a lucrative pay day following an emotional two seasons.
Pierre-Paul, 28, has defied long odds in his comeback to the NFL and recovery from the July 2015 fireworks accident that resulted in the loss of two fingers on his right hand.
In what Giants general manager Jerry Reese termed a "miracle" return two seasons ago, Pierre-Paul played in eight games and earned a one-year contract worth $10 million from the Giants.
He turned down more money elsewhere to stay with the Giants and flashed even more of the talent that made him one of the league's most feared two-way defensive ends. He had seven sacks in 12 games, including 5.5 sacks in back-to-back weeks late in the season against the Bears and Browns before a core muscle injury that required surgery cost him the last four games of the regular season and the Giants' playoff loss to Green Bay.
After the season, Pierre-Paul was clear that he did not want to play under the franchise tag, expressing the belief that he earned a more significant commitment.
"I'm not playing on no one-year deal," Pierre-Paul said. "I've proved it. I've showed it. There is not really another guy like me out here doing it with 7 { fingers still."
There is plenty of motivation for the Giants to get a deal done prior to the start of free agency next week. A tag charge of $17 million for one player _ even one as impactful as Pierre-Paul can be _ would severely eat into their available salary cap resources in free agency, where they will look to upgrade the roster of a team that finished with 11 wins and its first playoff berth since Super Bowl XLVI last year.
The NFL's deadline for teams to use the franchise tag is 4 p.m. Wednesday.
