The Las Vegas Raiders and franchise-tagged running back Josh Jacobs agreed to terms on a new deal Saturday, the team announced.

The one-year contract is worth up to $12 million, sources told Tom Pelissero and Ian Rapoport of NFL Network.

Jacobs’ upgraded agreement contains a base value of $11.8 million and $200,000 in incentives, adds Pelissero.

The deal replaces the $10.091-million tag, which led to a standoff between the Raiders and Jacobs, who has stayed away from the club during offseason workouts and training camp.

The reigning NFL rushing champion announced his return on social media:

The resolution between Las Vegas and Jacobs is almost identical to the agreement between the New York Giants and Saquon Barkley made in July. Barkley, who also received the franchise tag, agreed to a new one-year deal worth up to $11 million.

Franchise-tagged players aren’t eligible for long-term contracts after the deadline but are permitted to negotiate new one-year pacts.

Jacobs led the NFL with a career-high 1,653 rushing yards in 2022 while also adding 12 touchdowns and 400 receiving yards.

Despite his success, Jacobs couldn’t land a multi-year commitment from the AFC West club in the latest example of a deflated market for NFL running backs.

All three running backs hit with the one-year franchise tag this offseason – Jacobs, Barkley, and Tony Pollard of the Dallas Cowboys – failed to earn long-term second deals from their respective teams.

A handful of star running backs participated in a Zoom call in late July to discuss how to respond to the NFL increasingly devaluing their position.

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