In the 2023 NFL free agency period, the Dallas Cowboys took a noticeably conservative path as other teams engaged in more aggressive moves. This approach was punctuated by their most notable acquisition, the signing of 32-year-old linebacker Eric Kendricks to a one-year deal worth $3 million, potentially rising to $3.5 million with incentives. Kendricks was brought aboard to replace the retiring Leighton Vander Esch, filling a significant void in their defense.
Addressing their needs in the backfield, the Cowboys re-signed running back Rico Dowdle to a one-year contract valued at $1.255 million. In addition, Ezekiel Elliott made his return to Dallas after the 2024 NFL Draft, securing a one-year, $2 million contract that could escalate to $3 million through incentives. However, the post-June 1 release designation of Elliott leaves the Cowboys with a $6.04 million cap charge in 2024.
One of the major headlines in the early stages of free agency was star running back Derrick Henry signing a two-year, $16 million contract with the Baltimore Ravens in March. Henry's deal includes $9 million fully guaranteed, with the potential to reach $20 million through incentives. Reflecting on his options during this period, Henry commented 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." However, the Cowboys did not express an interest in acquiring Henry. "They never reached out, you know what I'm saying? ... They weren't really interested. It is what it is," Henry added.
Cowboys owner Jerry Jones addressed the situation by noting the financial constraints that prevented the team from pursuing Henry. "I like our personnel. We couldn't afford Derrick Henry," Jones stated. This sentiment was repeated with emphasis during his conversation with the media: "We couldn't afford Derrick Henry." Despite these constraints, Jones has declared that Dallas would be "all in" for the 2024 season.
Cowboys' Offense Struggles
The Cowboys' conservative strategy appears to be affecting their performance on the field, particularly in the rushing department. Dallas ranks 30th in the NFL with a meager average of 73.7 rushing yards per game. Their running backs have combined for just 170 yards and one touchdown on 49 attempts, averaging 3.5 yards per carry. The team’s rushing yards over expectation stand at minus 74, placing them only ahead of the Chicago Bears and Miami Dolphins.
Derrick Henry's Impact
Meanwhile, Derrick Henry's performance has been exceptional. He has accumulated 281 rushing yards, ranking fifth in the NFL. Henry is tied for the top spot in rushing touchdowns with four to his name. His impressive average of 5.0 yards per carry and 65 rushing yards over expectation signify his status among the league's elite backs. The financial structure of Henry’s contract, including potential dummy years, could have reduced his cap number for 2024 to $2.595 million, further illuminating the complexity of NFL contract negotiations.
In other notable moves, the Philadelphia Eagles made Landon Dickerson the highest-paid offensive guard in March, underscoring the varied strategies teams employ to strengthen their rosters.
As the season progresses, it remains to be seen whether the Cowboys' cautious approach to free agency will pay off or if their conservative spending will hamper their performance on the field. With Jerry Jones' proclamation of going “all in” for the 2024 season, the pressure will be on to translate that commitment into success, both financially and competitively.