Derrick Henry contract with the Titans benefits everyone.
Just 24 hours ago, it was almost set in stone that Derrick Henry would be playing on a franchise tag in 2020. The general fear was that he wouldn’t be a Tennessee Titan past next season. Those fears can now subside, Adam Schefter broke the news that Derrick Henry has signed a 4-year deal with the Titans. Even though long term deals for running backs usually aren’t good, Derrick Henry’s contract is a huge win for both sides.
Titans and RB Derrick Henry is signing a four-year, $50 million contract that includes $25.5 million guaranteed, source tells ESPN.
In one off-season, the Titans keep both Henry and Ryan Tannehill on long-term deals.
— Adam Schefter (@AdamSchefter) July 15, 2020
The franchise tender that Derrick Henry signed earlier this offseason would have paid him $10.278 million. That number was already accounted into the Titans cap space remaining. Now, the deal Derrick Henry has signed is a 4-year deal worth $50 million. It averages to $12.5 million per year and only $25.5 million is guaranteed.
Henry ranks top 5 among running backs when it comes to how much their contract averages per year. His deal looks incredible for the Titans when compared to Christian McCaffrey, who got a new contract earlier this offseason.
The dollars make sense with Derrick Henry’s contract
Just as Jon Robinson loves to do, I’m sure Henry’s contract is backloaded with a potential out after either 2 or 3 seasons. After backloading the deal, paying Henry for the 2020 season might cost the Titans close to only $11 million. Of course, each season would bring a higher and higher cap hit for Henry, though.
Whatever the number for year one is, the Titans won’t be out much more as far as cap space than they were with the tag. There are rumors that the first two years are almost fully guaranteed, which would leave the last two years being extremely flexible.
Henry’s contract seems like a huge win for both sides. There was pressure on Henry to get the deal done before the deadline. The 2021 free agent class is packed with running backs, which would have made it much harder for him to get paid big. Titans fans should just be glad that we are getting 4 more years of King Henry.