The biggest question surrounding the Titans offseason centers around Derrick Henry

Welcome to Music City Miracles’ Tennessee Titans 2024 NFL Free Agency Primer! The legal tampering period begins on March 11th, but the Titans are able to re-sign their own free agents before then. General manager Ran Carthon now possesses full roster control and will collaborate with new head coach Brian Callahan on their vision for the 2024 Titans.

The Titans are currently scheduled to possess 24 free agents (19 unrestricted), including several key starters and role players. Over the next few weeks, we’ll take an in-depth look at each free agent and provide arguments for why the Titans should, or shouldn’t re-sign that player. We’ll also offer our final verdict and a prediction to go along with our analysis.

Today, we’re analyzing superstar running back Derrick Henry.

Name: Derrick Henry

Position: Running Back

Current Age: 30

Why the Titans should re-sign Henry

Henry was still an effective rusher throughout the 2023 campaign. He finished second in the league in rushing yards (1,167) and seventh in touchdowns (12). Henry was not the problem with Tennessee’s offense. Bottom-barrel offensive line play and wide receiver depth doomed the Titans offense, not Henry, or the rushing attack in general.

Henry sits second all-time on the Titans rushing yards leaderboard, trailing Eddie George by 507 yards for first place. Another season in Tennessee would cement Henry’s legacy as the franchise’s greatest running back of all time. The Titans also possess more than $70 million in cap space. Re-signing Henry wouldn’t prevent the Titans from addressing other needs.

Why the Titans should let Henry walk

Henry turned 30 in January and will technically turn 31 during the 2024 campaign (in early January 2025). Running backs rarely age well and Henry has already experienced a slight drop-off in production and ability. The Titans have had a tendency to overly rely on Henry throughout his tenure.

New head coach Brian Callahan is a pass-happy leader that wants to field an explosive passing offense. It’s a new era of Titans football that’s supposed to lean on coach Callahan and his development of franchise quarterback Will Levis. The Titans could go a lot cheaper at running back by pairing Tyjae Spears with another draft pick, or a lower-cost free agent like Zack Moss, Gus Edwards, or Devin Singletary.

Projected Contract

Spotrac projects Henry to sign a one-year contract worth $10.3 million. Henry’s last contract with the Titans contained voidable years, meaning he’ll count for $4.73 million towards the Titans’ 2024 cap whether he’s with the Titans or elsewhere. Re-signing Henry means the figure begins at $4.73 million. For example, a one-year contract extension worth $4 million would technically be an $8.73 million contract.

Final verdict

The Titans should re-sign Henry if the terms qualify as reasonable. Henry is still an effective rusher that could play a major role in a more productive offense. It’s not Henry’s fault the Titans have fumbled the offensive line and wide receiver positions two years in a row. The Titans can retain Henry, upgrade the offensive line and wide receiver spots, and still field a pass-happier offense that builds around Levis. Nowhere does it state that keeping Henry is preventative to that happening.

Prediction

This is extremely difficult. I’m predicting Henry and the Titans part ways. Henry has publicly stated his interest in testing free agency for the first time. The aging Henry also wants to win a Super Bowl and the rebuilding Titans don’t offer him a terrific opportunity to do that. I can see teams like the Baltimore Ravens, Dallas Cowboys, and/or Buffalo Bills showing interest in Henry throughout free agency.