Projecting Saquon Barkley, Derrick Henry Contracts After Jonathan Taylor's $42M Deal

After an offseason of misery for running backs looking for new contracts, Jonathan Taylor scored a win for the position when he secured a long-term deal from the Indianapolis Colts.

Per ESPN's Adam Schefter, Taylor has agreed to a three-year, $42 million extension with $26.5 million guaranteed.

The $42 million in total value for Taylor's new contract makes it the fifth-richest active deal for a running back, almost split right down the middle of contracts for Aaron Jones ($48 million) and Nick Chubb ($36.6 million).

A 2021 All-Pro selection, Taylor spent most of the summer locked in a battle with the Colts over his contract. He had one year remaining on his rookie deal and requested a trade in July after Colts owner Jim Irsay told him they weren't going to offer him an extension.

Taylor's standoff with the Colts coincided with Josh Jacobs (Las Vegas Raiders) and Saquon Barkley (New York Giants) holding out because they didn't want to play on the franchise tag.

Austin Ekeler of the Los Angeles Chargers got permission from the team to seek a trade early in the offseason when he couldn't get an extension. He rescinded the request in May and the Chargers added $2 million in incentives to his current contract.

Jacobs and Barkley didn't agree to terms on long-term extensions before the July 17 deadline, but they signed one-year deals worth more than the $10.091 million the franchise tender was valued at.

During the stalled contract talks for running backs, several star players at the position held a Zoom meeting to discuss ideas but nothing definitive emerged.

This is going to be a conversation that almost certainly continues next offseason, especially since Barkley will once again be a free agent. Derrick Henry of the Tennessee Titans is another notable running back set to hit the market after the 2023 campaign.

Even though Taylor did score a win for running backs, Barkley and Henry could easily be in a position where they are playing on one-year deals in 2024.

Barkley seemed to have all the leverage in the world for a long-term deal this past offseason. He finished seventh in the NFL with 1,650 yards from scrimmage and led the Giants with 10 total touchdowns.

New York made the playoffs with Barkley as their best—and most consistent—offensive player last season. He did miss three games in 2021 with an ankle injury, but was largely healthy over the previous two years after suffering a torn ACL early in the 2020 season.

But the Giants opted to keep Barkley on a one-year deal. Now, he's already missed two games this season with a sprained ankle and is questionable for Week 5.

Given how poorly things have gone for the Giants so far this season, it's hard to imagine they will rush to spend big money to retain a running back who will be seeking the first big contract of his career.

Henry is going to be hurt by a combination of a drop in production, age and how he's been used in his career. The three-time Pro Bowler has at least 200 carries in each of the past five seasons, with more than 300 carries three times during that span.

Since the start of the 2019 season, Henry's 1,322 rushing attempts are almost 200 more than any other running back in the league (Jacobs: 1,134).

After averaging 5.2 yards per attempt from 2018 to '20, Henry hasn't averaged more than 4.4 yards per carry in a season since then. He's averaging a career-low 3.9 yards per attempt on 73 carries this season.

You can't fully blame the Titans offensive line for Henry's issues because rookie Tyjae Spears is averaging 6.1 yards per attempt on 20 carries.

Henry will turn 30 on Jan. 4 and could finish this season with more than 2,000 career attempts under his belt. (He's currently at 1,823.)

One good thing for Henry, as opposed to Barkley, is he's already got his big contract. The Alabama alum signed a four-year, $50 million deal with the Titans in July 2020 after having the franchise tag placed on him earlier in the offseason.

Taylor's deal was an indication there is money out there for running backs, but it's still likely to be difficult for players to get because there's a high volume of players at the position who are available every single year in free agency and the draft.