In a year where several NFL teams made significant splashes in free agency, the Dallas Cowboys opted for a more understated strategy. This approach is reflective of their early-stage tactics, favoring tactical signings over headline-grabbing moves. At the forefront of their acquisitions was 32-year-old linebacker Eric Kendricks, who inked a one-year contract worth $3 million. With added incentives, Kendricks’ deal could rise to $3.5 million.
The veteran linebacker fills the shoes of the retiring Leighton Vander Esch, a necessity for Dallas as they look to stabilize their defense. Kendricks arrives with a wealth of experience and leadership, qualities that will be crucial in mentoring younger players and providing steady performance on the field.
Backfield Dynamics
Addressing their running back situation, the Cowboys focused on retaining familiar faces. Rico Dowdle was re-signed on a one-year deal valued at $1.255 million, maintaining depth in the backfield. Additionally, the return of Ezekiel Elliott post-2024 NFL Draft came as a notable move. Elliott agreed to a one-year, $2 million contract with potential incentives bringing the value up to $3 million.
Despite these signings, Derrick Henry’s move to the Baltimore Ravens stood out as one of the major transactions of the offseason. Henry secured a two-year, $16 million contract with $9 million fully guaranteed. The deal could escalate to $20 million if all incentives are met. Asked about the possibility of Henry joining the Cowboys, the star running back revealed on the "Pivot" podcast, "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." However, the interest was not mutual. "They never reached out, you know what I'm saying? ... They weren't really interested. It is what it is," Henry added.
Cowboys owner Jerry Jones was candid about Dallas’ stance on Henry. "I like our personnel. We couldn't afford Derrick Henry," he stated, a sentiment he reiterated multiple times. It underscores the Cowboys' cautious approach, balancing their cap space and squad depth.
Financial Constraints and Performance Metrics
The Cowboys face a $6.04 million cap charge in 2024 due to Ezekiel Elliott's post-June 1 release designation. This financial consideration likely influenced their conservative maneuvers in the market. Nonetheless, Dallas' rushing game remains a weak spot. The team ranks 30th in the NFL, averaging just 73.7 yards per game. The running backs collectively managed a mere 170 yards and one touchdown on 49 attempts, averaging 3.5 yards per carry.
The situation looks dire when considering the advanced metrics. The Cowboys are minus 74 rushing yards over expectation, placing them only above the Chicago Bears and Miami Dolphins.
Competitive Context
In contrast, Derrick Henry shines brightly in these metrics. With 281 rushing yards, he ranks fifth in the NFL and is tied for the top spot with four rushing touchdowns. His average of 5.0 yards per carry and 65 rushing yards over expectation underscore his elite status in the league. Had Dallas found the cap space to secure Henry, it’s plausible their backfield struggles could have significantly improved.
Elsewhere in the NFL, the Philadelphia Eagles made a notable move by making Landon Dickerson the highest-paid offensive guard in the league in March. Additionally, Henry’s contract with Baltimore was structured with future cap flexibility in mind. By adding three dummy years, the Ravens managed to keep Henry's cap number for 2024 at a manageable $2.595 million.
Looking ahead, Jerry Jones has declared that Dallas will be "all in" for the 2024 season. Whether the Cowboys' restrained strategy in free agency will pay off remains to be seen. Only time will tell if their focus on internal development and strategic signings will be enough to compete at the highest level.