Saquon Barkley decided the price of missing practices and creating a distraction for his Giants teammates was more than he was willing to pay.

Barkley ended his holdout threat before it ever began and reported Tuesday morning for the start of training camp after he agreed to terms on a one-year contract worth up to $11 million with incentives, sources told The Post. That includes a $2 million signing bonus.

Giants general manager Joe Schoen and Barkley’s representatives never stopped negotiating after the NFL-imposed deadline for a multiyear extension passed on July 17 and Barkley was stuck with the one-year franchise tag or the possibility of sitting out to prove a point.

“Obviously we are glad we were able to work things out with Saquon,” Schoen said in a statement. “We all recognize the player and person Saquon is and what he means to our team. He is a good teammate, a leader and a really good player. We are looking forward to getting on the field [Wednesday].”

Forcing the Giants to deal with the absence of their best offensive playmaker and evaluate their weakened team while he trained on his own (if he had been willing to forfeit about $560,000 per regular-season week to prove his value) was Barkley’s only real remaining leverage. The two-time Pro Bowl running back punted that and any safeguard against injury risk during physical camp practices without the benefit of long-term contract security to be part of what he believes is a team capable of big things this season, sources said.

The fully guaranteed base salary of $10.1 million is the same as allotted by the tag. But the first $2 million will be paid within two weeks instead of divided evenly over the course of 18 weeks during the season, and the incentives would reward Barkley should he have a great season that propels the Giants into the playoffs, sources said.

Barkley, 26, will receive $303,000 apiece if the Giants make the postseason and he reaches three individual markers: 1,350 rushing yards, 11 total touchdowns and 65 receptions. No playoffs, no bonus, regardless of his statistics.

None of those count against the 2023 salary cap because all are considered “unlikely to be earned” given that they are higher thresholds than Barkley reached last season. If earned, they will count toward the 2024 cap.

The possibility of prohibiting the Giants from placing a second franchise tag on Barkley in 2024 was on the table, but proved to be a sticking point that might have dragged out talks and delayed the co-captain’s return, sources said. So, Barkley made the significant concession that the Giants can tag him again for $12.1 million (with the same $909,000 in incentives carrying over to raise the max value to $13 million, per CBSsports.com contracts expert Joel Corry) and maintain all the leverage in continued negotiations next offseason, if they so choose.

Prior to getting tagged in March, Barkley rejected a deal worth $13 million per year that included just $19.5 million guaranteed, sources said. After the tag, Barkley’s representatives asked the Giants to shop him around the league to shape a fair market, but the request was denied because the team deemed Barkley too valuable to trade. Furthermore, the Giants turned away at least two trade inquiries, The Post has learned.

Barkley turned down a three-year contract with an average annual value of $11 million and $23 million guaranteed last week, sources said. The sides were less than $2 million apart on a multiyear extension at the end, but neither budged.

It is more common for players to take less than the amount dictated by the tag to facilitate a trade out of a tense situation than it is to wind up with a possibility to out-earn the tag as Barkley has, so that’s one area in which he can claim a negotiation victory. The last time it happened was in 2005, when the Colts added incentives to Edgerrin James’ one-year deal, according to former Jets general manager and ESPN analyst Mike Tannenbaum.

Barkley joined a conference call with other top NFL running backs earlier this week to discuss organized options to fight back as the position continues to be devalued across the league. Former Giants greats Ottis Anderson and Carl Banks — a team-employed radio analyst — publicly urged Barkley to reconsider the holdout that he recently admitted to contemplating on “The Money Matters” podcast.

Giants fans on social media rejoiced both that Schoen had held his ground and that Barkley had lived up to his team-first, football-over-business image. Because he had not signed the tag, Barkley was not fined for missing spring workouts and would not have been fined for any practices missed in training camp.