The New York Giants reached a 1 year deal with JPP.

EAST RUTHERFORD, N.J.  – Jason Pierre-Paul (JPP) has been one of the Giants’ most important players since his arrival five years ago.
 
JPP was scheduled to become an unrestricted free agent on March 10, but the Giants today designated him as their franchise player. The move gives the team and Pierre-Paul time to negotiate a long-term contract, though JPP is free to negotiate with other teams when the free agency signing period begins next week. But if Pierre-Paul signs a contract with another team, the Giants will receive two first-round draft choices as compensation.
 
Pierre-Paul had one of his finest seasons in 2014. After compiling just 3.5 sacks in the first 11 games, he had 9.0 sacks in the final five games. JPP’s total of 12.5 sacks was the second-highest of his career and the highest total by a Giants player since he had 16.5 in 2011. Pierre-Paul also had a team-high 21 quarterback hits.
 
JPP had sacks in seven different games, including six with 1.5 or more sacks. That tied with Kansas City’s Justin Houston for the NFL’s third-highest total, behind Houston’s J.J Watt and Baltimore’s Elvis Dumervil, who each had seven. JPP had a career-high 2.5 sacks among his seven tackles vs. Washington on Dec. 14. He had 2.0 sacks at Dallas on Oct. 19, at Tennessee on Dec. 7 and vs. Philadelphia on Dec. 28, and 1.5 sacks vs. Arizona on Sept. 14 and at Jacksonville on Nov. 30. He had one sack at St. Louis on Dec. 21.
 
Pierre-Paul’s two-sack game at Dallas was his first since Dec. 24, 2011, when he had two takedowns of the Jets’ Mark Sanchez.
 
JPP finished third on the team with 77 tackles (54 solo), including a team-high 16 tackles for losses. He also forced three fumbles and recovered one.
 
The Giants’ first-round draft choice – and 15th overall selection – in 2010, Pierre-Paul has 42.0 career sacks. That places him eighth on the Giants’ career list, four sacks behind George Martin.
 
With the recent release of Mathias Kiwanuka, Pierre-Paul is the Giants’ longest-tenured defensive lineman.
 
Pierre-Paul is the fourth Giants player to be designated as a franchise player, joining tackle Jumbo Elliott (1993), running back Brandon Jacobs (2009) and punter Steve Weatherford (2012). Both Jacobs and Weatherford signed long-term contracts two weeks after receiving their franchise designations.
 
The Giants have also used the transition tag on three players: linebacker Carl Banks (1993), tight end Howard Cross (1994) and running back Rodney Hampton (1996).
 
A “non-exclusive” franchise player must be offered a one-year contract of an amount no less than a figure calculated using the average of the top five salaries at the player’s position for the previous year (and other variables), or 120 percent of the player’s previous salary, whichever is greater. A non-exclusive franchise player may negotiate with other teams, but if the player signs an offer sheet from another team, the original team has the right to match the terms of that offer, or if it does not match the offer – and loses the player – it is entitled to receive two first-round draft choices as compensation.