Saquon Barkley is hitting the open market.

NFL insider Jordan Schultz reported the New York Giants will not place the franchise tag on the two-time Pro Bowler, allowing him to become an unrestricted free agent. He played on a one-year, $10.1 million contract last season after receiving the franchise tag.

The running back market is set to be loaded with veterans this offseason. Barkley, Josh Jacobs, Austin Ekeler, Derrick Henry and Tony Pollard are all likely to hit the open market less than a year after being first- or second-round picks in most fantasy leagues.

The impending turnover at the running back position may wind up creating a cooling effect on the market. Running backs have already had a rough enough time getting big deals in free agency in recent years.

With a handful of high-profile names and others like D'Andre Swift and Devin Singletary also reaching free agency, it's hard to imagine a scenario where they all get paid starter-caliber money.

Barkley may wind up being the exception. The Penn State product is one of the most dynamic playmakers in the NFL when healthy and has spent most of his career fighting for yards behind a bad Giants offensive line.

Even as he enters his age-27 season, one could easily see a contending team viewing Barkley as a missing piece in their offense. The Houston Texans, Philadelphia Eagles and Dallas Cowboys are all playoff teams with holes at running back that Barkley could instantly fill.

Houston makes the most sense with $70 million in cap space, per Spotrac, and an offense filled with budding stars on rookie contracts. The Texans could lavish Barkley with a short-term deal that does not alter their books in future seasons while also giving him a nice balloon payment. The Eagles have $41.9 million in space but have more pressing needs elsewhere and the option to re-sign Swift on the cheap.

The Cowboys are the least likely of the options given their lack of cap room. They would ideally bring Pollard back into the mix on a deal that's lower than the franchise-tag $10.1 million he made last season.