Cowboys 'Didn't Have the Money' for Derrick Henry amid Salary Cap, Stephen Jones Says

Dallas Cowboys executive vice president Stephen Jones revealed that the team didn't pursue four-time Pro Bowl running back Derrick Henry in free agency due to salary cap constraints.

"Our situation is just, you know, and no one ever wants to say it, but it's salary cap, and we just didn't have the money to allocate to that position in terms of where we were from a cap standpoint, knowing what we're looking at with Dak [Prescott] and certainly Micah [Parsons] and CeeDee Lamb," Jones said during an appearance on Mad Dog Radio (h/t Mike Florio of Pro Football Talk).

While Florio noted that Henry had "interest" in hearing from the Cowboys in free agency, he ended up signing with the Baltimore Ravens on a two-year deal worth $16 million that included $9 million guaranteed.

Henry is coming off a 2023 season in which he racked up 1,167 yards and 12 touchdowns in 17 games.

Dallas also watched Tony Pollard leave as a free agent, joining the Tennessee Titans as Henry's replacement on a three-year contract for $24 million.

Jones and the rest of the Cowboys' front office went with a cheaper option on April 29, bringing back veteran Ezekiel Elliott on a one-year deal worth up to $3 million. Elliott will likely share touches in a backfield that includes Rico Dowdle and Deuce Vaughn.

Instead, Dallas appears to be fully focused on extending the contracts on Prescott, Lamb, and Parsons. During his radio appearance on Monday, Jones said that it is a "priority" to extend Prescott (h/t Jon Machota of The Athletic).

Meanwhile, Lamb skipped the Cowboys' voluntary offseason workouts on April 15 as he searches for a new long-term extension.

Dallas' front office will likely attempt to get contracts done with all three prior to the 2024 season, which could ease the pain of failing to pursue Henry and watching Pollard walk in free agency.