In a strategic move that has characterized their off-season approach, the Dallas Cowboys adopted a conservative stance during this year’s free agency period. While other teams made significant acquisitions, the Cowboys opted for smaller, targeted additions to their roster.
The most notable of these acquisitions is 32-year-old linebacker Eric Kendricks, who joins the Cowboys on a one-year deal worth $3 million. Potential incentives could push the contract's value to $3.5 million. Kendricks is expected to fill the void left by the retiring Leighton Vander Esch and bolster the team's defense.
Addressing their running back needs, the Cowboys re-signed Rico Dowdle to a one-year contract valued at $1.255 million. Additionally, in a move that surprised many, Ezekiel Elliott returned to Dallas on a one-year, $2 million contract, potentially increasing to $3 million through incentives, following the 2024 NFL Draft in late April.
Derrick Henry's Departure
One of the significant stories of free agency was the departure of star running back Derrick Henry, who signed a two-year, $16 million contract with the Baltimore Ravens in early March. Henry’s deal includes $9 million fully guaranteed and the potential to reach $20 million with incentives, marking a significant investment by the Ravens.
While Henry's departure from Tennessee made waves, his comments on the "Pivot" podcast shed light on his thoughts about joining the Cowboys. “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,” Henry revealed. However, he also noted that the Cowboys' interest was tepid at best: “They never reached out, you know what I'm saying? ... They weren't really interested. It is what it is.”
Cowboys owner Jerry Jones confirmed this stance by stating, "We couldn't afford Derrick Henry." Jones elaborated further, expressing that while they admired Henry's talent, the financial constraints were too significant to overcome.
Financial Implications and Performance Metrics
The Cowboys face a $6.04 million cap charge in 2024 due to the post-June 1 release designation of Ezekiel Elliott, adding another layer of complexity to their financial management. This move reflects the complicated balancing act the team must perform to stay competitive under the cap.
On the field, the Cowboys have struggled in the rushing department, ranking 30th in the NFL with an average of just 73.7 yards per game. Their running backs have accumulated only 170 yards and one touchdown on 49 attempts, averaging a modest 3.5 yards per carry. With a minus 74 rushing yards over expectation, Dallas ranks only above the Chicago Bears and Miami Dolphins in this statistic.
In stark contrast, Derrick Henry has been a standout performer, accumulating 281 rushing yards, ranking fifth in the NFL. He is tied at the top for rushing touchdowns, with four to his name, and averages an impressive 5.0 yards per carry. Henry’s 65 rushing yards over expectation underscore his elite status among NFL running backs.
Looking Ahead
Despite these challenges, Jerry Jones has proclaimed that the Cowboys are “all in” for the 2024 season. This declaration signals an intention to leverage their current roster while potentially seeking additional strategic enhancements to address deficiencies.
Meanwhile, other teams have also made significant moves. The Philadelphia Eagles set a new precedent by making Landon Dickerson the NFL’s highest-paid offensive guard with a substantial contract in March. This illustrates the competitive landscape and the varying approaches teams are taking to build their rosters.
For the Cowboys, the path forward involves navigating financial constraints while maximizing the potential of their current personnel. While the conservative approach in free agency may draw criticism, it is a calculated strategy aimed at maintaining long-term competitiveness. Only time will reveal the effectiveness of these moves as the Cowboys prepare for the challenges of the upcoming season.