In what could be described as a measured approach to free agency, the Dallas Cowboys opted for calculated decisions while other NFL teams made more significant moves. This strategy, a hallmark of their early 2024 offseason, saw the franchise focus on prudent acquisitions rather than headline-grabbing contracts.
Key Additions
The most notable addition to the Cowboys' roster this year was the signing of 32-year-old linebacker Eric Kendricks. Kendricks, who secured a one-year deal worth $3 million, could see his contract rise to $3.5 million with performance-based incentives. Brought in to fill the void left by the retiring Leighton Vander Esch, Kendricks is expected to bring veteran leadership and stability to the Dallas defense.
In addressing their needs at running back, the Cowboys re-signed Rico Dowdle to a one-year contract valued at $1.255 million. Furthermore, Ezekiel Elliott made his return to Dallas on a one-year, $2 million deal, with the potential to reach $3 million through various incentives. Elliott's re-signing came in the wake of the 2024 NFL Draft, signaling Dallas' commitment to bolstering their backfield depth.
Missed Opportunities and Financial Constraints
While the Cowboys managed to secure key players, they also faced significant financial constraints that limited their ability to pursue higher-profile talent. Notably, Derrick Henry, one of the league's premier running backs, signed a two-year, $16 million contract with the Baltimore Ravens at the start of free agency. Henry's deal includes $9 million fully guaranteed, with potential earnings reaching up to $20 million through incentives.
Commenting on his move to Baltimore, Henry shared on the "Pivot" podcast, "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." Despite his interest in joining the Cowboys, Henry noted, "They never reached out, you know what I’m saying? ... They weren’t really interested. It is what it is."
Cowboys owner Jerry Jones acknowledged the financial limitations that prevented the signing of Henry, stating, "I like our personnel. We couldn’t afford Derrick Henry." Jones reiterated, "We couldn’t afford Derrick Henry," underscoring the budgetary constraints faced by the team.
Cap Challenges and Rushing Struggles
Dallas faces additional financial challenges with a looming $6.04 million cap charge in 2024 due to the post-June 1 release designation of Ezekiel Elliott. This financial burden underscores the need for careful fiscal management as the team navigates future roster decisions.
On the field, the Cowboys have struggled in their rushing game, ranking 30th in the NFL with an average of just 73.7 yards per game. The performance of Dallas' running backs has been underwhelming, totaling only 170 yards and one touchdown on 49 attempts, with an average of 3.5 yards per carry. The team’s rushing yards over expectation align with this poor performance, ranking only above the Chicago Bears and Miami Dolphins at minus 74.
Derrick Henry's Performance
In contrast, Derrick Henry has continued to demonstrate his elite status among NFL running backs. With 281 rushing yards, Henry ranks fifth in the league and is tied at the top for rushing touchdowns with four. His average of 5.0 yards per carry and 65 rushing yards over expectation further highlight his value on the field.
Looking Ahead
Despite the conservative approach and financial limitations, Jerry Jones has expressed optimism for the future, proclaiming that Dallas would be "all in" for the 2024 season. By focusing on strategic additions like Kendricks and retaining key players such as Dowdle and Elliott, the Cowboys aim to remain competitive while managing their cap space effectively.
As the season progresses, the effectiveness of Dallas' strategy will be closely scrutinized. With a commitment to prudent financial management and targeted player acquisitions, the Cowboys are poised to navigate the challenges of the upcoming season with a balanced approach.