In a move that underscored their methodical strategy in this year’s free agency, the Dallas Cowboys opted to maneuver conservatively while other NFL teams made more audacious plays. Amidst this backdrop, the Cowboys secured the services of 32-year-old linebacker Eric Kendricks on a one-year deal valued at $3 million, with potential incentives boosting the contract's worth to $3.5 million. Kendricks was brought in to bridge the gap left by the retiring Leighton Vander Esch, aiming to provide stability to the defensive unit.
Backfield Decisions
The Cowboys further addressed their backfield needs by retaining Rico Dowdle on a one-year, $1.255 million contract. Additionally, they re-signed veteran running back Ezekiel Elliott after the 2024 NFL Draft. Elliott's contract, a one-year, $2 million deal, includes incentives that could see it rise to $3 million. These moves highlight Dallas' cautious yet deliberate approach, emphasizing continuity and experience in their roster composition.
However, despite these signings, the Cowboys experienced a notable cap charge. Due to the post-June 1 release designation of Ezekiel Elliott, they face a $6.04 million cap hit in 2024. This financial maneuver underscores the careful balancing act required to maintain competitive depth while navigating salary cap constraints.
Missed Opportunity
While Dallas fortified its own ranks, star running back Derrick Henry found a new home with the Baltimore Ravens. Henry inked a two-year, $16 million contract at the start of free agency in March, with $9 million fully guaranteed. The deal includes potential incentives that could elevate its total value to $20 million.
On the "Pivot" podcast, Henry expressed his thoughts on his free agency journey: "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." This declaration highlights the mutual admiration between player and franchise, albeit with a twist of fate steering him away from Dallas. Henry revealed that the Cowboys “never reached out,” implying a lack of interest from Dallas despite his willingness to join the team.
Addressing the situation, Cowboys' owner Jerry Jones remarked, "I like our personnel. We couldn't afford Derrick Henry." He reiterated, "We couldn't afford Derrick Henry," underscoring the financial limitations that shaped Dallas' cautious approach.
Statistics Tell the Story
Dallas' careful approach comes in light of their struggling run game. Currently, the Cowboys rank 30th in the NFL in rushing, averaging a mere 73.7 yards per game. Their running backs have collectively garnered only 170 yards and one touchdown on 49 attempts, averaging 3.5 yards per carry. With a negative 74 rushing yards over expectation, the Cowboys rank only above the Chicago Bears and Miami Dolphins in this metric.
In contrast, Derrick Henry's early-season performance stands out. Accumulating 281 rushing yards, Henry ranks fifth in the NFL, with an average of 5.0 yards per carry and 65 rushing yards over expectation. His four rushing touchdowns position him at the top of the league. This comparative performance highlights the potential impact Henry could have had on the Cowboys' offense.
Financial Strategies
The signing of Derrick Henry could have been structured to reduce his cap number for 2024. By adding three dummy years to a two-year, $14 million contract, Henry’s cap hit could have been reduced to $2.595 million. However, Dallas opted not to pursue this opportunity, likely influenced by broader strategic priorities and financial constraints.
Meanwhile, the Philadelphia Eagles made a significant financial move by making Landon Dickerson the NFL’s highest-paid offensive guard with a lucrative contract signed in March. Such aggressive financial commitments by divisional rivals underscore the contrasting strategies at play within the NFC East.
In conclusion, the Dallas Cowboys have charted a conservative yet calculated path through the 2024 free agency landscape. While their approach prioritizes financial prudence and stability, it raises questions about whether this strategy will yield the desired on-field success. As the season progresses, the effectiveness of their roster decisions and cap management will be put to the test. Jerry Jones has confidently proclaimed that Dallas is "all in" for the 2024 season. The Cowboys' faithful will undoubtedly be watching closely, hopeful that this approach will translate into tangible results on the field.