In a move that largely reflected their strategy through the early stages of this year's free agency, the Dallas Cowboys opted for a conservative approach while many teams around the league made larger waves. The most notable addition to their roster was the signing of 32-year-old linebacker Eric Kendricks. Kendricks, a key acquisition, was inked to a one-year deal valued at $3 million, with potential incentives pushing the contract's value to $3.5 million. This signing was a strategic move to fill the void left by the retiring Leighton Vander Esch.
Addressing the Running Back Situation
In terms of their running back needs, the Cowboys made some key re-signings. Rico Dowdle was brought back on a one-year contract worth $1.255 million. Additionally, Ezekiel Elliott, who returned to Dallas after the 2024 NFL Draft in late April, signed a one-year, $2 million deal. Elliott's contract includes incentives that could increase its value to $3 million.
Meanwhile, the Cowboys’ early conservative approach meant they missed out on some of the bigger names in free agency. Derrick Henry, who many fans speculated might head to Dallas, instead signed a two-year, $16 million contract with the Baltimore Ravens at the start of free agency in March. Henry’s deal included $9 million fully guaranteed and the potential to reach $20 million with additional incentives. Reflecting on his move on the "Pivot" podcast, Henry stated, "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 further added, "They never reached out, you know what I'm saying? ... They weren't really interested. It is what it is." These comments shed light on the Cowboys’ stance throughout the early stages of free agency. Echoing this sentiment, Cowboys owner Jerry Jones remarked, "I like our personnel. We couldn't afford Derrick Henry." He went on to emphasize, "We couldn't afford Derrick Henry."
Cap Implications and Team Performance
The financial strategy of the Cowboys also had other ramifications. Dallas faces a $6.04 million cap charge in 2024 due to the post-June 1 release designation of Ezekiel Elliott. This conservative financial maneuvering has had its impact on the team's performance on the field.
Currently, Dallas ranks 30th in the NFL in rushing, with an average of just 73.7 yards per game. Their running backs have managed only 170 yards and one touchdown on 49 attempts, averaging 3.5 yards per carry. The team is minus 74 rushing yards over expectation, ranking only above the Chicago Bears and Miami Dolphins.
In contrast, Derrick Henry has thrived with the Ravens. He has accumulated 281 rushing yards, placing him fifth in the NFL. Henry is tied for the top spot in rushing touchdowns, having secured four so far. With an impressive average of 5.0 yards per carry and 65 rushing yards over expectation, Henry clearly aligns himself with the league's elite backs.
Backing Up the Cowboys’ Strategy
While the numbers might not currently reflect positively on the Cowboys' choices, there is a clear strategy underpinning their moves. By opting for conservative spending and avoiding high-cost players like Henry, the Cowboys have preserved cap space for future moves. As Jerry Jones proclaimed, the team is aiming to be "all in" for the 2024 season. This forward-looking approach suggests bigger plans and possibly more aggressive acquisitions down the line.
In other league news, highlighting the high-stakes business of the NFL, the Philadelphia Eagles made Landon Dickerson the league’s highest-paid offensive guard in March. Such moves underscore the varying strategies teams deploy in free agency, balancing immediate needs with long-term planning.
As the season progresses, scrutiny will undoubtedly continue on the Cowboys' approach. With pivotal games ahead, how their strategy pans out will become clearer, providing crucial insights into whether their caution in the free agency market will translate into success on the field. For now, the onus remains on the current roster to elevate their performance and justify the team's calculated maneuvers.