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Derrick Henry contract: Why RB left Titans, signed with Ravens as free agent

jacob camenker, usa today
·5-min read

Derrick Henry's final game at Nissan Stadium as a member of the Tennessee Titans occurred in Week 18 of the 2023 NFL season.

Henry ran for 153 yards and a touchdown on 19 attempts to help the Titans earn a 28-20 victory over the Jacksonville Jaguars. The win knocked Jacksonville out of the playoffs and sent Henry off into the proverbial sunset a victor.

The 30-year-old running back was emotional after the game and addressed the crowd, who cheered him on throughout the contest.

"Titans fans, I just want to say thank you for the greatest eight years of my life," Henry said. "The ups and the downs, y'all been there for everything – through the adversity, watching me grow as a person and a player, always supporting me. I love y'all. Hopefully I was an inspiration to all the young kids and everybody in the community."

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With that, Henry headed into an uncertain future. He was still under contract for two seasons, but nothing on his deal was guaranteed. As a result, many believed the Titans would part ways with him and send him onto the next chapter of his NFL career.

That's exactly what happened.

Why did Derrick Henry leave the Titans?

Henry left the Titans after being released by the team during the 2024 offseason. The veteran running back had two years left on his contract but was owed no remaining guaranteed money.

The change was about two things for Tennessee. First, they were shifting to more of a passing-oriented scheme under new head coach Brian Callahan, and while Henry can catch passes out of the backfield, it isn't his forte.

Additionally, Henry had turned 30 before the end of the 2023 NFL season. Running backs often decline precipitously after the age of 30, so the Titans were playing the percentages in parting with Henry. The team was also entering a rebuild under new coaching leadership, so parting with Henry to allow him to play for a contender was a sensible choice.

The Titans signaled they were going to release Henry when they agreed to terms with former Dallas Cowboys running back Tony Pollard. The 27-year-old signed a three-year, $21.75 million deal to become Tyjae Spears' backfield partner. That deal was cheaper than the remainder of Henry's pact, which would have been worth $12.5 million in average annual value (AAV), so the Titans officially cut the veteran back on eve of free agency.

While a bit long in the tooth by running back standards, Henry still ran for 1,167 yards and 12 touchdowns during his final year in Tennessee. That led many to believe he would draw interest as a free agent, especially from contenders needing a backfield boost.

Why did Derrick Henry sign with the Ravens?

Henry did, in fact, receive interest from contenders. Ultimately, he decided to join the Baltimore Ravens, who had gone 13-4 during the 2023 NFL season to earn the AFC's No. 1 seed.

Henry detailed in his introductory news conference that coming to Baltimore was a "no-brainer" for him.

"This is where I knew I wanted to be," Henry said, per Ravens.com. "I love the style, the physicality that they play with on all three phases. I feel like it fits my style of play as well and it was really a no-brainer trying to figure out the business side of things and I'm glad we were able to get it figured out."

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Henry was also complimentary of the talent the Ravens had assembled and noted that he was excited to join reigning MVP Lamar Jackson.

"I definitely wanted to be somewhere that had a solid foundation, and this foundation has been set for a very long time. They compete every year and always in the conversation," Henry said. "I want to be somewhere I'm surrounded by talent, have a great quarterback and great players around as well, so I'm just excited for this opportunity and blessed and thankful to be able to land here."

Henry and Jackson combined to make, on paper, one of the scariest quarterback/running back combinations in the league thanks to Jackson's slippery explosiveness and Henry's raw power. The best part from Baltimore's standpoint is that they didn't have to break the bank to land the veteran running back.

Derrick Henry contract

The Ravens signed Henry to a two-year contract worth up to $16 million in free agency, per Spotrac.com. That made him just a bit more expensive annually than his replacement Pollard, as Henry was making $8 million in AAV compared to Pollard's $7.25 million.

Overall, Henry is tied with D'Andre Swift as the eighth-highest-paid running back in the NFL. That's despite Henry having a 2,000-yard season, two rushing titles and an All-Pro appearance under his belt.

With that in mind, Baltimore has to feel like it got a relative bargain with what they're paying Henry. And since the deal is just a two-year pact, it doesn't come with any long-term risks if Henry fails to age gracefully.

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Highest-paid NFL RBs

Below is a list of the 10 highest-paid running backs in the NFL in terms of AAV, per Spotrac.com:

This article originally appeared on USA TODAY: Why Derrick Henry left Titans, signed with Ravens for 2024