Derrick Henry is still with the Baltimore Ravens. Eric DeCosta didn’t sell at the trade deadline, retaining veterans like Henry in hopes of staying in contention in 2026 and beyond. Did DeCosta fumble a potential bag, though?
Given the season Henry is having, he probably wasn’t going to fetch anything crazy in a potential deal. He’s also a 32-year-old running back and Baltimore made abundantly clear they were keeping him. However, the NFL’s a business, and if the offer’s good enough, you have to pull the trigger.
It’s not a guarantee the Ravens got any strong offers for Henry. Still, he’s taken a slight step back. It’s not all his fault, but he doesn’t have the same burst he once had.
Did Baltimore miss out on an opportunity to cash in while Henry’s a hot commodity?
Baltimore Ravens may have missed a competitive trade window for Derrick Henry
The Ravens’ plan is to compete this year. They’re 4-5, yet only one game out of a Wild Card spot. Lamar Jackson also brought the team hope with his commitment to return from injury. Trading Derrick Henry would’ve thrown that all out the window.
Other factors in the grand scheme of things are hard to ignore, though. A Henry trade could’ve made sense both this year and next.
For starters, Baltimore likely would’ve gotten the best package they’d be able to get if they dealt him ahead of Tuesday’s deadline. If he keeps trending down, teams will obviously become less interested. Rumors swirling usually involved a third-round pick headed back to the Ravens.
Henry could’ve been the best running back available, too. Calls were made for Jonathan Taylor and Tony Pollard, but like Henry, they were off the table. The price could’ve surged if Eric DeCosta entertained Henry talks.
And there were plenty of running back-needy teams at this year’s deadline. The Denver Broncos, Green Bay Packers, Minnesota Vikings, New York Giants, and Seattle Seahawks were all involved in running back rumors. With those squads in competitive windows and in desperate need of better rushing attacks, they surely would’ve had heavy interest in Henry.
A Derrick Henry trade could’ve offered some cap relief
Baltimore is also in a very, very rough cap situation. If you thought their 2026 cap space was bad, look at 2027. It’s a horror movie.
The organization is nearly $49 million over the cap in 2027. A Lamar Jackson extension would solve a lot of that, but not all of that. Other cuts, restructures, or trades would need to be made, and a Derrick Henry trade would’ve sliced significantly into that issue.
Moving Henry at the deadline would’ve saved $12 million next year, while incurring $4.3 million in dead money.
That’s enticing given how bad things have gone this year. They’re desperate to bounce back, and it won’t be easy getting back on the right foot next year, having to navigate the insurmountable cap hits facing the Ravens.
There are other ways to overcome the lack of money, but trading Henry could’ve been an easy part of the solution, especially factoring in the Day 2 pick as well.
Regardless, Baltimore probably couldn’t afford adding another need to their roster. Having Henry gives them stability at running back for the rest of 2026 and 2027. If they traded him, it would’ve been difficult to fix the offensive line, defense, and running back all in the coming offseason.
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