The Baltimore Ravens made a splash when they signed Derrick Henry to a two-year, $16 million last offseason, but no one could’ve predicted just how massive that move would be. In his age-30 season, Henry rewound the clock and gave Baltimore one of the most dominant rushing campaigns in league history.
His bruising return to form—over 2,100 scrimmage yards and 18 total touchdowns—wasn’t just impressive, it was historic. And it’s exactly why head coach John Harbaugh is now openly campaigning for an extension.
The timing of this isn’t a coincidence. Saquon Barkley just reset the running back market with a two-year, $41.2 million deal from the Eagles. That was before Harbaugh made his comments on Monday, and now we’re going to see just how much Barkley’s record-shattering contract plays into Baltimore’s talks with King Henry.
John Harbaugh wants Derrick Henry deal done
“It’s definitely in the conversation,” Harbaugh said, via a transcript from the team. “I know that’s been talked about, and yes, I’d love to see that get done as well.”
Henry's contract was widely considered one of the more head-scratching contracts of the offseason. After eight years in Tennessee, the wear and tear started to show ever so slightly. "Washed" started getting thrown around. Then he went out and led the league in rushing touchdowns and finished second in total yards. That deal now looks ridiculously cheap and those narratives have been squashed.
But it won’t stay that way for long.
Saquon’s $20.6 million annual average was a stunner—a full-blown reset at a position teams have long avoided paying. If Henry’s camp wasn’t thinking about a raise before, they are now. And with Baltimore reportedly exploring a new deal before free agency hits next year, Barkley’s extension will absolutely factor into what that number ends up being.
Baltimore does have options. Henry’s 2025 cap hit is just under $13 million, and an extension could lower that number while giving him more guaranteed money up front. But if they wait too long, his price could rise even higher.
The Ravens have been proactive with stars before—Roquan Smith, Nnamdi Madubuike, Lamar Jackson—and this could be another case where they’d rather pay now than overpay later. Henry wants to stay. Harbaugh and Eric DeCosta want him to stay. Everyone’s on the same page. But Barkley might’ve just made that page a lot more expensive.
Now we’ll find out if Baltimore’s ready to pay what it takes to keep King Henry in purple.