Ravens' Depth Chart, Salary Cap After Derrick Henry Contract in 2024 NFL Free Agency

The Baltimore Ravens made one of the biggest splashes in all of free agency Tuesday.

ESPN's Adam Schefter reported the AFC North team and running back Derrick Henry agreed to a two-year, $16 million deal that can be worth as much as $20 million with incentives. It also features $9 million in guarantees in the first year.

According to Over The Cap, the Ravens are $180,381 over the allotted team cap space, meaning they might have to make some other moves down the line.

For now, though, Henry is joining a depth chart of offensive skill players that includes the reigning MVP in Lamar Jackson:

• QB: Lamar Jackson, Malik Cunningham
• RB: Derrick Henry, Keaton Mitchell, Justice Hill
• WR: Zay Flowers, Rashod Bateman, Nelson Agholor, Tylan Wallace
• TE: Mark Andrews, Isaiah Likely

Running back was a question mark for the Ravens entering the offseason.

After all, J.K. Dobbins was a free agent and coming off a difficult stretch of injuries that included a torn Achilles in the first game of the 2023 season and a torn ACL that kept him out of the 2021 campaign.

Gus Edwards was also a free agent, and Schefter reported he agreed to a deal with the Los Angeles Chargers.

That left Keaton Mitchell, who showed flashes of his potential as a rookie but is relatively unproven, and Justice Hill, who has never run for more than 387 yards in a single season since entering the league in 2019.

The presence of the mobile Jackson under center means the Ravens could survive a lackluster running back room better than most teams in the NFL, but it still wasn't an inspiring depth chart for a team with realistic Super Bowl aspirations.

So much for that.

All Baltimore did in response was add one of the best running backs of his generation in Henry. The Alabama product has an Offensive Player of the Year, four Pro Bowl selections and five seasons of more than 1,000 rushing yards on his resume.

While the 30-year-old might not be the same player who ran for 2,027 yards and 17 touchdowns as a First-Team All-Pro selection in 2020, he still ran for 1,167 yards and 12 touchdowns last season for the Tennessee Titans.

Playing alongside Jackson should also open up more running lanes for Henry considering defenses will always have to pause for a second to make sure the electrifying quarterback didn't keep the ball in an effort to take off himself.

Baltimore reached the AFC Championship Game last season and now has a dominant running back next to Jackson as it looks to take the next step and win a Lombardi Trophy.