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As NFL.com framed it: "An offseason standoff in Las Vegas is nearing its end. ..."

The Raiders and running back Josh Jacobs have agreed to terms on a new one-year contract worth up to $12 million, according to multiple reports. The deal replaces the $10.091 million franchise tag and clears the way for Jacobs to return to the Raiders after staying away from the club throughout the offseason and training camp.

Jacobs can earn another $200,000 in incentives under the new contract, per NFL Network.

Jacobs led the NFL in rushing in 2022, which was a contract year for the 2019 first-round pick out of Alabama. He also kept the Raiders somewhat afloat in a season in which Las Vegas couldn't close games and all but wasted a top-three statistical year for wide receiver Davante Adams.

Jacobs is currently one of the Raiders' two most valuable players, but Las Vegas declined to secure his services via a long-term deal before July's deadline for franchise-tagged players, following a league-wide trend in which clubs have avoided attaching themselves to even the best at the running back position. Knowing his earning power was at its peak, Jacobs avoided offseason activities and remained at home through training camp, waiting for his representation to reach an agreement, even if it lacks the security of multiple years.

Jacobs' deal resembles the adjusted one-year contract signed in July by Giants running back Saquon Barkley, who also received the franchise tag and expressed dismay at a lack of commitment from New York. Barkley ended up signing a deal worth slightly more than the franchise tag rate, thanks to incentives.

Like Barkley, Jacobs' deal will also include incentives.

At this point, it is unknown how the Raiders intend to proceed with Jacobs beyond 2023. Investing in running backs has proven to be a mistake for teams in recent years, even when they're a driving force of a club's offense. If Jacobs is looking for bargaining chips, he can point to his availability in recent years, in which he's played in 15 or more games in each of the last three seasons.

At 25 years old, if he's going to cash in, it will be soon. It just likely will not be in a deal that lasts five years. Nick Chubb's three-year, $36.6 million extension signed in 2021 might serve as a model for what the Raiders could offer Jacobs, which would put him in line to remain with the team through his age-28 season.

But, as NFL.com's Nick Shook suggests, the Raiders are also a team undergoing change in Year 2 of the Dave Zielger and Josh McDaniels-led regime. They've demonstrated they don't prioritize running backs enough to lock up the NFL's leading rusher, so there's no guarantee they'll be quick to do so even if Jacobs replicates his 2022 performance in 2023. The frays caused by this standoff might also play a part in any potential deals.

At minimum, though, this agreement means the Raiders will welcome back theirs and the NFL's top rusher, eliminating a concern at the position with two weeks left before the start of the regular season. That's better than the alternative.

And for fantasy managers?

Anybody drafting in the last few weeks, with Jacobs dipping down into Round 3, are going to be very happy with this outcome. Expect that price to rise if you haven't drafted yet. But Jacobs still might come as more of a value than he otherwise would have.