Derrick Henry’s time with the Tennessee Titans came to a close in 2024, ending an era of dominance. After eight standout seasons in Tennessee, including that unforgettable 2,000-yard campaign in 2020, Henry became a free agent following the 2023 season.

The Titans’ shift to a pass-first offense under head coach Brian Callahan played a big role in Henry’s departure. While Henry still had a solid 2023 season (1,167 rushing yards and 12 touchdowns), the Titans chose to go in a different direction, focusing on younger, more versatile players like Tony Pollard. It was clear that Henry’s time with the team was winding down.

Despite the end of his tenure, Henry’s legacy in Tennessee is set in stone. With more than 8,000 rushing yards and 80+ touchdowns, he became one of the franchise’s all-time greats. Multiple Pro Bowls and the 2020 Offensive Player of the Year award will always be part of his story. But as the team looked to the future, moving on from Henry made sense for them.

Derrick Henry’s New Contract With The Baltimore Ravens

Enter the Baltimore Ravens. After finishing with the best record in the AFC in 2023, the Ravens offered Henry a new shot at a championship. Playing alongside Lamar Jackson in a run-heavy offense was a perfect fit for Henry, who was eager to contribute to a Super Bowl-caliber team.

Henry signed a two-year deal worth up to $16 million, which was a smart move for Baltimore. The contract included a base salary of just $1.21 million for 2024, making it a cost-effective way for the Ravens to bring in a proven workhorse while keeping their financial flexibility intact. On the other hand, Henry had the chance to chase the ultimate goal—winning a Super Bowl.

The deal also featured a $7.79 million signing bonus and $9 million in guarantees. 2024 Henry’s cap hit will be $5.11 million, which isn’t bad for a back of his caliber. His salary increases to $6 million in 2025, with his cap hit climbing to $10.89 million, along with a $1 million roster bonus. This contract is a win for Baltimore—getting a powerful back without locking themselves into a long-term deal. They’ve strengthened their run game while keeping future flexibility.