In a move that underscores their strategic restraint during this year's free agency, the Dallas Cowboys have opted for a conservative approach while other teams, notably the Baltimore Ravens and Philadelphia Eagles, have made more significant splashes.
Key Acquisitions and Departures
The Cowboys' most substantial addition to their roster is the signing of 32-year-old linebacker Eric Kendricks. Secured on a one-year deal worth $3 million, with incentives potentially bringing the contract's value to $3.5 million, Kendricks aims to fill the void left by the retiring Leighton Vander Esch. This move demonstrates the Cowboys' focus on maintaining defensive stability.
On the offensive side, the Cowboys addressed their running back situation by re-signing Rico Dowdle to a one-year contract valued at $1.255 million. Additionally, Ezekiel Elliott made a return to Dallas after the 2024 NFL Draft, agreeing to a one-year, $2 million contract that could grow to $3 million through incentives.
Despite these signings, the Cowboys' ground game remains a considerable concern. Dallas is currently ranked 30th in the NFL in rushing, averaging a mere 73.7 yards per game. Their running backs have accumulated only 170 yards and one touchdown on 49 attempts, with an average of 3.5 yards per carry. Unfortunately, the Cowboys are also minus 74 rushing yards over expectation, only better than the Chicago Bears and Miami Dolphins in this regard.
Henry's Decision and Impact
Derrick Henry, a significant target in free agency, ultimately signed with the Baltimore Ravens on a two-year, $16 million contract. Henry's deal includes $9 million fully guaranteed and the potential to reach $20 million through incentives. Had Dallas structured a similar two-year, $14 million contract, Henry's cap number for 2024 could have been reduced to $2.595 million through the addition of three dummy years. However, the Cowboys refrained from making a move for the star running back.
Reflecting on his decision, Henry commented during an appearance on the "Pivot" podcast, "I was like, man, if I'm not in Tennessee or I don't get to go to Dallas, I'd love to be a Raven." He elaborated, "They never reached out, you know what I'm saying? ... They weren't really interested. It is what it is." It’s clear the Cowboys were not prepared to meet Henry's contract demands.
Jerry Jones' Perspective
When asked about missing out on Henry, Cowboys owner Jerry Jones candidly admitted, "We couldn't afford Derrick Henry." This sentiment was echoed multiple times, underscoring the financial constraints and strategic decisions facing the Cowboys' front office.
Jones remains optimistic about the 2024 season, proclaiming that Dallas would be "all in." However, with the Cowboys facing a $6.04 million cap charge in 2024 due to the post-June 1 release designation of Ezekiel Elliott, financial management will be crucial moving forward.
Comparisons and Future Outlook
In stark contrast, Derrick Henry continues to thrive. Ranked fifth in the NFL for rushing yards with a total of 281, he is tied at the top for rushing touchdowns with four. Henry’s average of 5.0 yards per carry and his 65 rushing yards over expectation position him among the league's elite backs, highlighting what might have been for the Cowboys had they pursued him more aggressively.
Meanwhile, the Philadelphia Eagles made waves by making Landon Dickerson the NFL’s highest-paid offensive guard in March. This move, combined with Henry’s impactful performances for Baltimore, raises questions about Dallas' conservative approach and whether it will pay off in the highly competitive NFL landscape.
As the season progresses, the success of Jerry Jones' strategy and the performance of the new additions will be scrutinized. The Cowboys' fanbase, known for its high expectations, will be watching closely to see if the team's restrained moves can translate into on-field success and a deep playoff run.