Why the Time Is Right for Titans to Shop Derrick Henry amid Latest NFL Trade Rumors

The Tennessee Titans fell short of making the NFL playoffs in 2022, and they began deconstructing their roster ahead of 2023 free agency.

They released offensive tackle Taylor Lewan, wideout Robert Woods and kicker Randy Bullock in cap-saving moves last month.

While those releases don't necessarily mean the Titans are in rebuilding mode, they could be there soon enough. The franchise has a new general manager in Ran Carthon, and it only has quarterback Ryan Tannehill under contract for one more season.

Star running back Derrick Henry is also set to be a free agent in 2024, and there has been some speculation about him being on the trade block.

According to Jonathan Jones of CBS Sports, that isn't the case, though:

"I know there's talk that the Titans are shopping running back Derrick Henry but my sources tell me they are not. I had been told general manager Ran Carthon would be 'methodical' in his approach to free agency and changes to the team. ... I don't believe the Titans see any tangible free-agent upgrade at quarterback over Ryan Tannehill, and taking away the most essential part of the offense in Henry would indicate Tennessee is tanking more than anything."

Jones' logic is sound. Henry is the centerpiece of Tennessee's offense, and the Titans may not be shopping him. But the timing is right for them to do exactly that.

As the report noted, the Titans may not find an upgrade over Tannehill in free agency. They might not have a shot at one of the top quarterback prospects with the No. 11 pick, either.

Tanking for a 2024 prospect like USC's Caleb Williams wouldn't be the worst idea. Even if Tennessee isn't interested in doing that, it could still be eying a new signal-caller next offseason. By then, Henry will be 30 years old and perhaps not viewed as part of the franchise's future anyway.

Trading Henry in 2024 won't be an option, but Tennessee might be able to get a solid return for him if it acts now. The free-agent market is deep, but the top running backs—Saquon Barkley, Josh Jacobs and Tony Pollard—have received the franchise tag.

Henry, who rushed for 1,538 yards and 13 touchdowns while tallying 398 receiving yards in 2022, would be RB1 if he hit the open market. Even at 29 years old, he would likely command a Day 2 draft selection in a trade.

Trading the Alabama product would also save $6.2 million in cap space. The Titans are now projected to have $27.3 million in cap space available, but an extra $6 million could go a long way to improving an underwhelming receiving corps and the league's worst pass defense.

Again, the Titans should be thinking about their future this offseason, and Henry probably isn't a part of it.

While an argument could be made that waiting until the in-season trade deadline might yield a more aggressive suitor, that would be a risky play by Tennessee. There's no guarantee that Henry, who logged a league-high 349 carries in 2022, won't show signs of decline early in the season.

There's also no guarantee this year's talented rookie running back class won't take potential suitors off the board. That class is headlined by Texas' Bijan Robinson, but 15 running backs are ranked inside the top 150 prospects on the Bleacher Report Scouting Department's latest big board.

Tennessee could find a better trade market before teams dip into the rookie player pool. That pool could be important for the Titans as well.

Say, for example, Tennessee flips Henry for a third-round pick in this year's draft. That selection could turn into a back like Texas' Roschon Johnson. The 6'0", 219-pound prospect might not be a one-for-one replacement for Henry, but he is a bigger back with similar movement skills and decent speed (4.58-second 40-yard dash):

Henry is still a special back, but he showed in 2022 that even he can't make this Titans team a legitimate contender. And if he is no longer its long-term answer at running back, a player like Johnson could be.

Pairing a rookie with 2022 fourth-round pick Hassan Haskins would at least give the Titans a solid backfield foundation.

It's always better to part with a player a year early than a year too late. For Tennessee, the time to turn the page from Henry to a younger backfield is now.

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*Cap and contract information via Spotrac.