Raiders Rumors: Josh Jacobs Signing Contract with Las Vegas 'Is Not off the Table' | News, Scores, Highlights, Stats, and Rumors

The Las Vegas Raiders didn't use their franchise tag on Josh Jacobs for a second straight offseason, but he's reportedly still an option to return in free agency.

ESPN's Jeremy Fowler reported a reunion is "not off the table" as Jacobs navigates a loaded free-agent class at running back. Jacobs is joined on the open market by Saquon Barkley, Derrick Henry, Austin Ekeler, Tony Pollard and D'Andre Swift as the position continues to struggle to land big long-term contracts.

The Alabama product played the 2023 season on the franchise tag. After leading the NFL in rushing in 2022, Jacobs took a marked step back, rushing for a career-low 805 yards and five touchdowns. His yards per carry average went from 4.9 in 2022 to a career-worst 3.5 in 2023.

Of course, not all of the issues were Jacobs' fault. The Raiders spent most of last season struggling mightily on offense as free-agent signing Jimmy Garoppolo struggled and rookie replacement Aiden O'Connell did not fare much better.

Still, it's worth noting that the Las Vegas running game actually improved with Jacobs out of the lineup. Zamir White started the final four games of the season in place of an injured Jacobs and posted three games with more than 100 all-purpose yards. He also outperformed Jacobs on a per-carry basis.

With White making just $985,000 next season, it would not be a surprise if the Raiders chose to keep him around and draft another back on Day 2 or Day 3 rather than invest cap space in Jacobs.

The star-studded free-agent class will likely depress Jacobs' market quiet a bit, so the only way a return makes sense is if it comes at a healthy discount.