Latest Derrick Henry update confirms suspicion just in time for 2024 NFL free agency

NFL teams seeking running back help in next week's free agency just received important news that confirm the availability of a top running back: Derrick Henry is headed to market.

"Running back Derrick Henry is unlikely to return to the Tennessee Titans after a historic eight-year run, per sources, though the door is not completely closed," Fowler reported on Friday afternoon.

This has been the suspicion all along, as Henry's exit from Nashville has been in the works since trade speculation was taking place in 2023.

At age 30, there will be some concerns about Henry's future production. However, the King has proven he's worth a gamble on as he's averaged 4.7 yards per attempt in his career while averaging 1,188 yards per season plus 11.3 touchdowns per year.

Many have pegged the Baltimore Ravens as the favorites to land him but expect just about every team looking for a legit RB1 to toss their hat in the ring. That includes squads like the Dallas Cowboys (Henry just bought a second home in D-town ), Houston Texans, Philadelphia Eagles, among many others.

They should be ready to pay up, however.

Derrick Henry 2024 contract projection

A to Z Sports projects Henry's price tag to be in the double digits per year. Salary cap analysts Josh Queipo and Kyle DeDiminicantanio break it down below:

Henry will be entering his age 30 season which is where most running backs fall off - if they haven’t already. This, combined with the question still surrounding the true value of running backs in a league that is increasingly pass-first, are big factors moving forward.

There is still reason for hope that King Henry can continue to perform well enough as a feature back, though. His missed tackle forced rate is still hovering around 20% and he still ranks in the top-half of the league in most second-level measures of running back performance. A team could make a small-length bet on getting the last out of his amazing career.

2 yrs $20M, $10.0M APY, $12M fully GTD
Year One Cap Hit: $5 million

Related: A to Z Sports' Top 105 Contract Projections Ahead of 2024 NFL Free Agency