Giants lose Xavier McKinney to Packers on $68 million free-agent contract

First Saquon Barkley. Then Xavier McKinney.

The Giants on Monday lost premier players on the first day of NFL free agency.

Not long after Barkley agreed to terms on a three-year deal to play in Philly, safety Xavier McKinney left for the Packers, receiving a four-year deal worth $68 million.

The Giants had strong interest in bringing McKinney back, but the $17 million per year average was considerably higher than they wanted to go.

McKinney now vaults into the top-five highest-paid NFL safeties, ahead of Jessie Bates and Harrison Smith and behind only Derwin James, Minkah Fitzpatrick and Antoine Winfield Jr.

This means a player who never came off the field for the Giants in 2023 will be taking those snaps in Green Bay and not New Jersey.

The Giants wanted to re-sign McKinney and thought they were in a good place with him after they agreed, as a show of good faith, to not put the transition tag on him as the two sides talked about a new deal.

The Giants knew they were unlikely to keep McKinney off the open market and expected to get the chance to match any offer he received.

McKinney did circle back to the Giants, but in keeping with their beliefs regarding positional value, they deemed the price was too high for a safety.

McKinney, 24, is an ascending player who did a bunch of good things for the Giants, who made him a second round pick out of Alabama in the 2020 NFL Draft.

This past season, playing on a contract year, was McKinney’s best.

He played every down on defense, matching linebacker Bobby Okereke with 1,128 snaps, and finished with a career-high 116 tackles.

McKinney’s three interceptions were his highest total since he had five in 2021. Still, this Giants regime did not view McKinney as a difference-maker.

There were a few blips for McKinney. He mangled his left hand in an all-terrain vehicle accident while on vacation during the bye week in 2022, missing seven games down the stretch of that season.

The Giants could have docked money from McKinney but chose not to.

This past season, McKinney criticized the defensive coaching staff for a lack of communication, prompting defensive coordinator Wink Martindale to fire back at McKinney, creating a distraction.

McKinney made two things clear near the end of the season and then after the season: He wanted to stay with the Giants but he also wanted to get paid like a premier safety.

Those two desires were not compatible.

The Giants have Jason Pinnock returning as one starting safety.

They could look to elevate Dane Belton, entering his third NFL season, into the starting lineup.

Belton played in 32 games the past two years, with seven starts, and has shown a nose for the ball, with four career interceptions. There are also several veteran safeties available to sign.

---

The Giants did bring back two of their own, re-signing punt returner Gunner Olszewski and special teamer Carter Coughlin to one-year deals.

Olszewski, 27, was signed in late October to fix an embarrassingly bad punt return situation and he did that, averaging 11.9 yards per return, including a 94-yard return for a touchdown against the Rams.

Coughlin returns for a fifth year with the Giants. He played 795 snaps on special teams the past two seasons and in 2023 led the team with nine special teams tackles.