In a strategically cautious move that mirrors their approach early in this year's free agency, the Dallas Cowboys have chosen a conservative path, while other franchises made significant headlines. The Cowboys’ most notable acquisition during this period has been veteran linebacker Eric Kendricks. Kendricks, 32, joined the roster on a one-year contract valued at $3 million, with additional incentives potentially increasing the deal to $3.5 million. His presence aims to fill the gap left by the retiring Leighton Vander Esch.
Simultaneously, the Cowboys addressed their running back position by re-signing Rico Dowdle to a one-year contract worth $1.255 million. Notably, former star Ezekiel Elliott returned to Dallas after the 2024 NFL Draft in late April, agreeing to a one-year, $2 million deal with incentives that could raise the contract's total to $3 million.
Elliott’s Return in Post-Draft Move
The decision to bring back Elliott came as a notable shift after March saw Derrick Henry sign a two-year, $16 million contract with the Baltimore Ravens during the outset of free agency. Henry's contract includes $9 million fully guaranteed, with incentives potentially boosting the total value to $20 million. Henry had considered Dallas as a potential destination but shared on the "Pivot" podcast, "I was like, man, if I'm not in Tennessee or I don't get to go to Dallas, I'd love to be a Raven." He also noted, "They never reached out, you know what I'm saying?... They weren't really interested. It is what it is."
Constrained by financial limitations, Cowboys owner Jerry Jones conceded, "We couldn't afford Derrick Henry." With Henry off to Baltimore, Dallas will incur a $6.04 million cap charge in 2024 due to Elliott’s post-June 1 release designation.
Rushing Performance Woes
This financial maneuvering underlines a broader issue for the Cowboys. Currently, Dallas ranks a dismal 30th in the NFL in rushing, averaging a mere 73.7 yards per game. The team's running backs have combined for only 170 yards and one touchdown on 49 attempts, averaging 3.5 yards per carry. Furthermore, the Cowboys are minus 74 rushing yards over expectation, ranking just above the Chicago Bears and Miami Dolphins.
In stark contrast, Derrick Henry has accumulated 281 rushing yards, placing him fifth in the NFL. His impressive stats include being tied at the top for rushing touchdowns with four to his name. Henry’s performance, boasting an average of 5.0 yards per carry and 65 rushing yards over expectation, cements his status among the league's elite running backs.
Conservative Investment and Future Commitments
While teams like the Philadelphia Eagles set financial benchmarks—making Landon Dickerson the highest-paid offensive guard in the league—Dallas has kept their spending in check. Instead, they opted for shorter-term, cost-effective deals that avoid long-term financial commitments. For instance, the structuring of Henry’s contract by Baltimore, which could have reduced his 2024 cap number to $2.595 million through the addition of three dummy years, illustrates creative cap management that Dallas chose not to deploy.
The Cowboys’ restrained investment strategy reflects a considered approach to free agency amid cap constraints and a rebuilding roster. Jerry Jones has proclaimed that Dallas will be "all in" for the 2024 season. The conservative roster reconfiguration establishes a foundation on which the franchise plans to build. While the current status presents challenges, especially in the ground game, the return of familiar faces like Ezekiel Elliott and the strategic acquisition of experienced talent such as Eric Kendricks signal a focused effort to overcome these hurdles.
As the new season unfolds, the real test for the Cowboys will be whether their calculated moves in the free agency market translate to on-field success, particularly in a league that thrives on the impact of bold, headline-grabbing decisions. Only time will reveal if this conservative strategy pays off, keeping Dallas competitive in a rapidly evolving NFL landscape.