Last week, Derrick Henry agreed to a two year, $30 million extension with the Baltimore Ravens that keeps him under contract until 2027. The deal also includes $25 million guaranteed. Not only does it make him the third highest paid running back annually, but he is now also the highest-paid running back ever above 30 years old.
Flockkkkkk 🐦⬛🐦⬛🐦⬛💜🫡💪🏾
God is good !! 🙏🏾🙏🏾@Ravens I’m appreciative & grateful for everyone apart of this great organization & a BIG S/O to all my teammates to be able to make this possible 🤞🏾. Thank you Flock Nation for always supporting . Working as hard I can to be able to…— Derrick Henry (@KingHenry_2) May 14, 2025
After a season in which Henry ran for over 1900 yards and 16 touchdowns, the future Hall of Fame inductee now plans to “retire as a Raven.”
However, was the deal the right move for the Ravens? And what impact will it have on the franchise long-term?
Does giving Derrick Henry a contract extension make sense?
The irony of this new deal for Derrick Henry is that the annual value is worth more than his first contract in Baltimore, which he signed over a year ago. After his yardage totals increased by more than 750 yards in 2024 compared to 2023, Henry is now being rewarded with a more luxurious contract.
However, part of what made Henry so valuable last offseason was the value Baltimore was getting for him. Now 31, Henry will become the third highest paid running back in the league behind only Christian McCaffrey and Saquon Barkley.
Even though Henry’s showing no signs of slowing down, does the deal contractually make sense for Baltimore in the long-term? This coming season, and perhaps in 2026 (barring injury), Henry will once again produce as one of the league’s top backs. However, will that overweigh the $15 million burden Baltimore may have to pay once regression hits? I don’t believe so.
Not only would Baltimore accept any value from Henry at his current peak to capture a Super Bowl, they also have an out in the deal. With only $25 of the $30 million guaranteed, the Ravens would be able to shed off some of his salary in the 2027 season if a drop-off occurs. Essentially, if Henry does regress after two more seasons, the Ravens could let him go without paying a considerable price to do so.
With that mind, the Ravens are giving themselves the opportunity for three more years of the running back. However, if things don’t go well, they also won’t be in serious financial trouble because of it. Without question, the deal makes sense for both parties.
How does it affect Baltimore’s running back room?
Obviously, even at age-31, Henry is clearly still the primary ball-carrier next to Lamar Jackson. After all, the read option was nightmarish for defenses in 2024. However, will that be the case at the termination of the deal?
Well, the Ravens may have no long-term answer to replace Henry. However, they have given themselves some leeway at the position.
Justice Hill is one of the most dynamic, versatile backs in the sport. Hill may have only ran for 228 yards, but did it on 4.9 yards per carry a season ago. He also had close to 400 yards receiving and three touchdowns as a pass catcher.
A former fourth round pick, even with Pro Bowl talents alongside him offensively, Hill’s three games of 50+ receiving yards were the third most in the league by a running back last year, only behind De’Von Achane and Alvin Kamara totaling more (via Statmuse).
The Ravens also hope for the resurgence of Keaton Mitchell, whose 2023 rookie season garnered attention. Undrafted, Mitchell shockingly broke through in Week 9 of 2023, and didn’t look back. Despite sharing the backfield, from Week 9-15, Mitchell’s 396 yards ranked 13th among all running backs, and his 8.4 yards per attempt led the league.
After an ACL tear, Mitchell missed a vast majority of 2024 and was never given the opportunity to reassert himself in the running back rotation. However, with freakish agility and out-of-this-world elusiveness, don’t count Mitchell out from making an impact.
So, at the moment, Henry is the lead back, and will be until regression occurs. However, he’ll have two more-than-capable runners behind him if need be. With that in mind, Baltimore doesn’t have to be too reliant on the success of Henry for the consistency of its rushing attack.
Was the contract the right move?
This contract will be judged on whether Derrick Henry has a ring on his finger after three more seasons.
With Jackson under center and a roster that consistently ranks among the best in the league, the Ravens unfathomable regular season success hasn’t translated to the postseason. Lamar’s won just three playoff games, and not two consecutively in a single postseason.
After Kansas City eliminated them in the AFC title game on their home turf in 2023, adding Henry felt like the “obvious” decision. He plays the game in a physical manner that fits Baltimore’s play style, and Henry was focused on contending alongside an elite quarterback.
And the move paid dividends for the Ravens. Their offense once again broke abnormally-high expectations. Once Baltimore figured things out defensively, only a heartbreaking loss on the final play in enemy territory could end the Ravens’ marvelous season. Observers learned that No. 22 in purple and black makes the Ravens an even more fierce opponent than ever before.
Will the move turn out to be successful? That is a subjective term, though for the Ravens, it means one thing: did the contract get them a Super Bowl? Because there’s nothing else at the current moment Baltimore should be more hyper-focused on accomplishing.
What happens next?
Now that Henry is locked up long-term, Baltimore still has other endeavors to explore. The Ravens will almost certainly extend Jackson this offseason to lower his cap hit in the remainder of his current deal. The Ravens also have to figure out a way to extend Tyler Linderbaum, who is now an unrestricted free agent after 2025.
Nonetheless, Baltimore is more than lucky to have its lead tailback secured in its backfield for the next few seasons. And their once most fearful opponent and competitor in Tennessee has now become perhaps its most prized possession, as both Henry and Baltimore work towards capturing a Super Bowl title.
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Chase Coburn
Chase Coburn is an aspiring sports reporter and journalist who's already achieved some great things in the industry. At just 13 years old, Chase has already started his own podcast, interviewing celebrities such as ESPN's Adam Schefter, Baltimore Ravens' Justin Madubuike, ESPN's Dan Graziano, and many others. Chase is even experienced in writing for his websites, chasessportsnews.com & chasecoburn.substack.com. He runs his schools broadcast department, and is also a freelance writer for The League Winners, covering Ravens football and UConn football. Chase, who resides in Fairfield, CT, hopes to continue his dream as a broadcaster, and inspire others to CHASE their dreams like he has.