For fans hoping the Baltimore Ravens will be one of the team’s venturing into free agency looking to add a notable veteran this offseason, general manager Eric DeCosta poured cold water on the notion during his media availability at the NFL Combine on Tuesday.
“We don’t have a lot of cap room. We have [vice president of football administration] Nick Matteo working tirelessly to find some space for us,” DeCosta said. “We call it ‘couch cushion coins.’ We’re trying to find 50 grand here, 75 grand there and a couch cushion. But we’re not a team that’s going to make a lot of splashes, generally speaking.”
Last offseason, the Ravens bucked that trend when they signed future Hall of Fame running back and two-time rushing champion, Derrick Henry, during the initial wave of free agency. While the move was a splash in terms of notoriety, it was a prime manifestation of the front office’s “right player [and] right price” mantra as the contract itself was an absolute steal given the elite level he produced. DeCosta inked him to a two-year deal worth $16 million and he vastly outperformed his salary, racking up the second-most rushing yards in the league with 1,921 and tying for the league lead in rushing touchdowns with 16.
Since the Ravens season ended, Henry has publicly expressed his desire to finish his career in Baltimore and his 2024 campaign suggests he has plenty more left in the tank despite having turned 31 in January. In addition to saying how much he loves being on the team, he also indirectly hinted that he believes he is worthy of a pay raise as well in the form of an extension.
When asked about the possibility of extending Henry on Tuesday, DeCosta shared with reporters that Ravens Senior Vice President of Media, Michelle Andres, who was in attendance for the press conference helps him decorate his office wall and that it will soon include a photo of Henry.
“So, what does that tell you?” DeCosta asked followed by laughter.
DeCosta praised Henry for his phenomenal work ethic and for being a consummate professional with how he preforms on the field, carries himself off the field and prepares during the offseason.
“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,” DeCosta said. “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.”
Signing Henry to an extension this offseason before the new league begins could be one of the levers and mechanisms the Ravens use to create immediate cap relief as the team is currently projected to have just under $10 million in effective cap space per Overthecap. They made their intentions clear about retaining two-time Pro Bowl left tackle Ronnie Stanley as one of their top priorities. Ravens franchise quarterback Lamar Jackson said DeCosta’s nickname ‘EDC’ stands for ‘Every Dollar Counts’ and if extending Henry helps them keep both players for the seeable future, it makes too much sense not to happen.
Many believe the success of Henry and fellow veteran running backs who made the Pro Bowl in their first season with a new team in 2024, Saquon Barkley and Josh Jacobs, could lead to a resurgence in the value of running backs. The importance of having a true difference-maker at the position had been overlooked and underappreciated for most of the last decade. DeCosta compared the way the league views the running back position as a whole to the stock market.
“When I was a kid, running back was arguably the most important position on the field,” DeCosta said. “I grew up a Cowboys fan, [and] Tony Dorsett [and] Emmitt Smith – guys like that – were my idols. And then we went through this period of the last five-[to]-10 years, the analytics emphasis sort of deemphasized the position.
“I think last year, you saw the impact that some of these guys had, and [Eagles general manager] Howie Roseman – a great GM – went out and got Saquon [Barkley], and they won a Super Bowl. [I give] a lot of credit to Howie. But These are guys that touch the ball. These are guys that impact games. I think they’re looked at as probably replaceable by some people, but if you have a great one, if you have a historic one, you can’t replace those guys. They impact the game in many different ways, and they create nightmares for defenses.”
This year’s draft class is believed to be the deepest at running back many analysts have seen in several years. According to The Draft Network’s Ryan Fowler, the Ravens are one of nearly a dozen teams who are set to host Boise State star running back Ashton Jeanty for a formal meeting during the Combine this week. While the Heisman Trophy finalist is unlikely to fall to the bottom of the first round where they are currently slated to pick at No. 27 overall, the fact that they are doing their due diligence on the top prospect at the position doesn’t mean they aren’t committed to keeping Henry beyond 2025.
