"He’s back: The #Raiders and star RB Josh Jacobs have agreed to terms on a new one-year contract that can be worth up to $12M, sources tell me and @TomPelissero, taking the place of the franchise tag. The NFL rushing leader returns on a deal that includes a signing bonus," Rapoport tweeted. "Josh Jacobs and his agent Chad Wiestling have been in Las Vegas for several days working to get this deal done. Now, LV’s star is back. He’ll sign the deal on Sunday when the team returns."
Jacobs appeared to confirm the new deal by posting "I'm back" with devil and smirk emojis on his X account shortly after Rapoport's report.
Jacobs can reportedly earn up to $200,000 through incentives as part of the new deal. The former Alabama standout led the NFL in rushing yards in 2022, the final year of his rookie contract after Las Vegas decided to decline his fifth-year option prior to a career season.
The Raiders placed the franchise tag on Jacobs this offseason after failing to agree to a long-term deal prior to July's deadline, leading to his holdout, which concluded with Saturday's agreement on a new one-year deal.
Jacobs was selected by the Raiders at No. 24 overall in the 2019 NFL Draft and recorded more than 1,000 yards during three of his first four NFL seasons, which included a career best 1,653 yards in 2022.