Former Agent Projects Next Ravens, Derrick Henry Contract

The Baltimore Ravens should look to extend their star running back.

Dec 25, 2024; Houston, Texas, USA; Baltimore Ravens running back Derrick Henry (22) smiles after the game against the Houston Texans at NRG Stadium. Mandatory Credit: Troy Taormina-Imagn Images / Troy Taormina-Imagn Images

Derrick Henry was an absolute monster in his first season with the Baltimore Ravens, and a reward seems to be on the horizon.

Last offseason, Henry joined the Ravens on a two-year, $16 million deal, so he obviously now one year remaining on his deal. However, he is grossly underpaid on his current deal, as his $8 million average annual value is tied for 12th among running backs.

As such, speculation about an extension for Henry has been rampant since the offseason began, and ramped up significantly after the Philadelphia Eagles signed star running back Saquon Barkley to a two-year extension worth $41.2 million. What would such an extension look like, though?

Jan 11, 2025; Baltimore, Maryland, USA; Baltimore Ravens running back Derrick Henry (22) runs against Pittsburgh Steelers linebacker Elandon Roberts (50) in the second quarter in an AFC wild card game at M&T Bank Stadium. Mandatory Credit: Tommy Gilligan-Imagn Images / Tommy Gilligan-Imagn Images

CBS Sports' Joel Corry, a former player agent, gave his prediction for Henry's next deal.

"A two-year, $30 million extension averaging $15 million per year would run through the 2027 season," Corry wrote. "Having $3 million of annual salary escalators to increase the 2026 and 2027 base salaries would make the deal worth as much as $36 million.

"Henry would have a contract that better reflects his place among NFL running backs, but also takes into account his age and heavy usage. Provided Henry continues to hold off Father Time, his earnings from the contract would be in striking distance of the base value in Barkley and McCaffrey's extensions."

That extension would bring Henry up to third among running backs in terms of AAV, only behind Barkley and Christian McCaffrey of the San Francisco 49ers ($19 million per year). Considering his age, it makes sense that he wouldn't get quite as much as those two, but his outstanding production is still enough to put him near the top.

Henry finished second in rushing with 1,921 yards and tied for the league lead with 16 touchdowns. He's definitely earned a raise, and the Ravens want to give it to him.

"Derrick [Henry] is just a phenomenal worker," general manager Eric DeCosta told reporters at the combine. "He's a pro. He does everything the right way, the way that he practices, the way that he takes care of his body, his mentality on the field, his leadership, his talent – he's freakishly talented – his combination of size and speed. He was just a perfect player for us last year. [He was] the right addition, and he brought a lot to the table on the field and also off the field with intangible qualities. We're blessed to have him, and I would expect his successes last year to continue this year."

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