Everyone's Getting Rich in NFL Free Agency but the Running Backs

Free-agent running back news ain't what it used to be. In fact, it's barely news at all. 

The official Minnesota Vikings Twitter account interrupted our national college basketball bracket madness Sunday night with what passes for a headline-grabber on the running back wire these days:

Now, how are we supposed to respond to that?

Amen?

Don't forget to tip your bartenders?

Um...was it good for you?

The Vikings' noncommittal quasi-announcement may have been anticlimactic, but it was the closest thing to legitimate interest in a veteran running back that we have seen since free agency opened last week.

Lacy, a 26-year-old two-time 1,000-yard rusher whose recent career has been hampered by injuries and conditioning issues, is on a journey of discovery. And he is finding the market for veteran running backs this year is nearly nonexistent.

Editor's Note: Lacy's agents at SportsTrust Advisors tweeted he agreed to a deal with the Seattle Seahawks Tuesday. Per ESPN's Adam Schefter, the contract is for one year and $5.55 million with $3 million guaranteed.

In addition to announced meetings with the Vikings and Seahawks, Lacy was scheduled to "visit" the Packers on Monday, the team he has played for since 2013. You know how your brother-in-law got downsized and had to reapply for his former job at a lower wage? Lacy sounds like he is almost there.

At least Lacy has company. Adrian Peterson has not been signed yet. Adrian Peterson. Also refreshing their LinkedIn pages constantly: Jamaal Charles, LeGarrette Blount, Latavius Murray, Rashad Jennings and DeAngelo Williams, not to mention a whole battalion of third-tier rushers. Not only do all of these backs remain unsigned, but also they are generating little on the rumor mill besides tumbleweeds.

Welcome to free agency 2017, an out-of-control marketplace where...

• The Bears pounced on quarterback Mike Glennon like he was a wad of $100 bills lying on the sidewalk instead of a guy who was drafted behind EJ Manuel and Geno Smith and who hasn't taken a meaningful snap since 2014.
• The Patriots and Jets are playing tug-of-war with Dont'a Hightower as if the Patriots haven't been replacing players like him for 15 years and one linebacker will actually make a difference for the death-spiraling Jets.
• Fullback Kyle Juszczyk inspired a bidding war. That war may have pitted rookie general manager John Lynch against himself, but the struggle was real, as is the $21 million contract.
• The Bills signed two fullbacks (Patrick DiMarco and Mike Tolbert), which means they now control about 40 percent of the world's fullback supply.
• The most significant free-agent running back to change teams so far has been Danny Woodhead, who left the Chargers to sign with the Ravens for three years and $8.8 million.

It doesn't take a Moneyball disciple to figure out at least part of what's going on.

Thearon W. Henderson/Getty Images

Peterson will be 32 in a week and is coming off a major injury. Charles is 30 and also coming off injuries. Blount is 30 and has a reputation as a one-dimensional battering ram who needs a Patriots-strength program around him to stay focused. Jennings is a 31-year-old committee back. Williams is a backup who only appears when Le'Veon Bell is unavailable. Murray, like Lacy, never quite met featured-back expectations.

All of these running backs are old, worn out, injured or come with baggage; some combine two to four of those problems. Their market value is well below their name recognition, and NFL executives have been wise to the dangers of overpaying for veteran running backs since the days of Shaun Alexander.

But there are other factors suppressing interest in Peterson, Lacy and the rest.

The usual big spenders are not interested in the running back market. The Browns, for example, tendered an offer to incumbent Isaiah Crowell and are taking the analytics-approved approach of investing heavily in their offensive line instead of 30-year-old running backs. The Titans are flush with cap space but also have more running backs than they know what to do with.

The 49ers, who are throwing money around at other positions, realize Carlos Hyde is one of the few players they don't need to replace. The Jaguars are pursuing Murray but appear more interested in signing every free-agent defender on the planet.

Even Jerry Jones, the default suitor for any and all Peterson-level superstars on the market, has Tony Romo-size cap problems to solve and can only offer a second-string job to any veteran backup. So the teams that would leap with both feet and an open checkbook into running back free agency in other years just don't exist this year.

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This year's running back draft is worth waiting for. Middle-tier contenders like the Lions and Panthers have invested in offensive linemen like T.J. Lang, Ricky Wagner and Matt Kalil instead of pursuing a Peterson or Lacy. The Buccaneers and Eagles opted to upgrade their receiving corps with DeSean Jackson, Alshon Jeffery and Torrey Smith instead of signing running backs.

The spending patterns suggest these teams believe they can upgrade their backfields in the draft, whether that's by selecting a Dalvin Cook- or Leonard Fournette-level prospect in the first round or by sifting through this year's bumper crop of mid-round rushers.

Only a handful of teams, most notably the Vikings and Seahawks, appear to be in the market for a veteran running back. That creates a bottleneck for all the free-agent rushers, with one particular free agent clogging up the works for the others.

Peterson is a white elephant. Realtors call an expensive, hard-to-categorize property like a dilapidated mansion or a creepy abandoned doll factory a "white elephant." White elephants are hard to sell because they don't fit most purchaser's tastes and/or budgets.

Peterson isn't going to settle for being part of a committee backfield for some .500 team. He expects a featured role on a contender, and he's going to be a vocal face-of-the-franchise type for whatever team signs him. If Peterson gets just 12 carries in a loss, it becomes a story. Not every coaching staff, quarterback and locker room is ready for that.

Andy Clayton-King/Associated Press

The Seahawks met with Peterson on Sunday, and they're the most natural fit for him. But they also have Charles, Lacy and Murray on their dance card. They are taking their time. There's nothing wrong with that: In the instant gratification era of legal tampering, it's easy to forget free agency opened five days ago and that it makes sense to schedule a few meetings before making a multimillion dollar decision.

When the Seahawks make their choice, the music will stop, and the other running backs will find their chairs. And just like in musical chairs, some of these running backs are likely to end up out of the game.

Jennings and Williams are versatile locker room leaders who played significant roles for playoff teams last year. But both are on the market because the running back depth chart is a great place to simultaneously pinch pennies and audition youngsters. They may be waiting by the phone for a long time.

Blount is on the opposite end of the spectrum. He led the league in rushing touchdowns last year, but he does only one thing really well, and few teams can afford the luxury of a short-yardage specialist.

Why sign Blount when Darren McFadden is available, and cheaper? Why sign McFadden when Christine Michael might still be on the market in June? Why wait until June when good running backs will be available in the sixth round?

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Come to think of it, if a team is looking for a bruiser in a committee backfield, why even invest in Lacy when Blount or McFadden are much cheaper?

No wonder teams are taking their time and publishing less than enthusiastic tweets.

The tepid market for veteran running backs reflects the sad reality that most of these guys are finished, or close to it. Yes, I know Peterson's history and have seen videos of him dragging tires up cliff faces and bench-pressing SUVs. Unless he finds a perfect fit, he's embarking on the Emmitt Smith Cardinals portion of his career, the part where he gains 60 yards per game because some team feels obligated to force-feed him 20 carries.

Charles is now an aging third-down back, an expensive luxury in a market that always features cheaper alternatives (like Woodhead, or Rex Burkhead, who visited the Patriots on Monday). Blount is a Patriots mirage that even the Jets aren't falling for. Murray had a gift-wrapped opportunity to be a superstar in Oakland and ended up splitting carries with a pair of no-names; if he goes to Jacksonville, he will get sucked into the same pit as Toby Gerhart and Chris Ivory before him. Veteran role players are veteran role players, and that's that.

None of these guys are worth much more than a two-year deal with a bunch of performance incentives, the kind a team hammers out late in free agency or even after the draft. That includes Peterson.

And Lacy? He's damaged goods with inconsistent work habits, yet he probably has the most long-term value of any back on the market. At the right price, he could be a bargain for some team.

Running back just happens to be the only position in the NFL where anyone has to worry about "the right price" anymore.

Mike Tanier covers the NFL for Bleacher Report. Follow him on Twitter: @MikeTanier.