After deciding not to use the franchise tag on Saquon Barkley, allowing the running back to become a free agent, the New York Giants have also declined to use the transition tag on safety Xavier McKinney, per Mike Garafolo of NFL Network:

“No transition tag for #Giants S Xavier McKinney, sources tell me and @RapSheet. He’ll hit the open market.”

McKinney now will join his Giants teammate in free agency.

The Giants were reportedly working on a long-term deal with McKinney before the 4pm EST deadline.

Reporting over recent weeks indicates that the Giants will still try to retain Barkley on a long-term deal, but only time will tell if that happens. It does seem unlikely that New York would be willing to let both players walk away in free agency, but it's a matter of which player the team prioritizes and at what cost.

The Giants will also likely be looking for a new quarterback, though that will likely come in the NFL Draft.

General manager Joe Schoen and head coach Brian Daboll have been outwardly supportive of quarterback Daniel Jones this offseason, despite the poor play and significant injuries he suffered in 2023. However, Rich Eisen indicated on his latest show that the Giants are ready to move on based on what he heard at the NFL Combine:

“No. 3 of my top five rumors I heard at the combine is the Giants are absolutely done with Daniel Jones. Done,” Eisen said. “Done! Might have to play him this year, but that ain't it. And they feel that ain't it. The words I heard at the combine multiple times, two words were, ‘buyer's remorse.' But they have to say what they say publicly.”

The Giants signed Jones to a four-year, $160 million contract just last offseason, so it would be a swift pivot after one year.