Las Vegas, Nevada - The Las Vegas Raiders and running back Josh Jacobs have agreed to a one-year contract, bringing the reigning rushing champion back to Las Vegas and allowing Jacobs to avoid playing under the franchise tag.

Jacobs broke the news first on social media by simply saying, "I'm back." The NFL team later confirmed the re-signing.

The deal will pay Jacobs up to $12 million, multiple media outlets reported, a moderate raise over the $10.1 million he was scheduled to make under the franchise tag. The base value of the contract is reportedly $11.8 million with $200,000 in performance incentives.

Jacobs' deal, unlike the franchise tag, reportedly includes a signing bonus.

Jacobs had publicly expressed his disapproval of playing under the franchise tag and had hoped to sign a multi-year deal.

After missing the July 17 deadline, however, Jacobs' only choices were to continue his holdout, play under the tag, or sign a new one-year deal independent of the tag.

Star wide receiver and teammate Davante Adams was among those who celebrated the end of Jacobs' holdout on social media, posting a picture of the two players with the caption, "Back in [business]."

Jacobs rushed for an NFL-high 1,653 yards last season, and Las Vegas coach Josh McDaniels said during training camp that Jacobs' role would remain the same in 2023.

Jacobs was drafted in the first round out of Alabama in 2019 by the Raiders' previous regime of Jon Gruden and Mike Mayock.

After Dave Ziegler took over as general manager, the club declined the fifth-year option on Jacobs' rookie contract, leading to the application of the franchise tag earlier this offseason.

In 60 career games, Jacobs has 4,740 rushing yards and 40 touchdowns while averaging 4.4 yards per carry.