Derrick Henry's Ravens contract looks much better thanks to Christian McCaffrey

Henry is coming to Baltimore on a cheap deal
Jacksonville Jaguars v Houston Texans
Jacksonville Jaguars v Houston Texans / Wesley Hitt/GettyImages

Not only were the Baltimore Ravens able to land a game-changing halfback in Derrick Henry in free agency, but they did so for the very modest price of $16 million over two seasons. Considering his productivity and consistency, that's a fairly impressive bit of business from Eric DeCosta.

The Ravens are taking advantage of a running back market that remains extremely deflated and tight. One of the few players who has been able to secure a market-resetting contract at his position is San Francisco 49ers star Christian McCaffrey, who just became the highest-paid running back in the league.

McCaffrey inked a new contract with San Francisco that gives him $38 million over two years in new money. While McCaffrey deserved every cent of that contract due to what a dynamic player he is as a runner and receiver, stealing Henry for a fraction of that average annual value has to feel good for Baltimore.

Getting Henry, who PFF ranked as the No. 2 running back in the league behind McCaffrey and leads the league in rushing in the last five years (which seems important for a running back), for $8 million per season is quickly looking like a major steal on the part of DeCosta and Baltimore.

Derrick Henry contract looks great for Baltimore Ravens after Christian McCaffrey deal

McCaffrey is both younger than Henry and in a tier all his own as a pass-catching running back, so making $19 million a year for a Super Bowl contender isn't a poor use of money. Even with Henry reaching the 30-year-old plateau, he is still elite at piling up tough yards and breaking off explosive plays on the back of pure speed and determination.

Henry has averaged an even 100 yards per game over the last five years. While that average dipped to 68.6 per contest last season, that can be explained as the byproduct of playing behind a terrible offensive line with the declining Ryan Tannehill and a rookie in Will Levis at quarterback.

Heading to Baltimore should do wonders for Henry, who still has his trademark straight-line speed and power in between the tackles. Playing with Lamar Jackson and a loaded offense will be a godsend for him, as he will very rarely face the same stacked boxes.

The Ravens managed to land a player who is in the top five at his position for less than half of what McCaffrey is making per season. Another 1,000-yard season from Henry could be the predecessor to a deep postseason run.