In the latest chapter of their meticulous and measured approach to roster building, the Dallas Cowboys have once again demonstrated their preference for conservative movements in free agency. While other teams made significant splashes, the Cowboys' strategy focused on calculated, strategic decisions aimed at filling key positions without overspending.
Strategic Additions and Re-signings
The most notable acquisition for the Cowboys this offseason was the signing of veteran linebacker Eric Kendricks. At 32 years old, Kendricks joins Dallas on a one-year deal worth $3 million, with incentives that could potentially elevate the contract's value to $3.5 million. Brought in to fill the void left by the retiring Leighton Vander Esch, Kendricks is expected to bring experience and stability to the linebacker corps.
In addressing their needs at running back, the Cowboys re-signed Rico Dowdle to a one-year contract valued at $1.255 million. Additionally, Ezekiel Elliott returned to Dallas with a one-year, $2 million deal after the NFL Draft in late April. This contract could increase to $3 million through various incentives.
Missed Opportunities and Financial Constraints
Despite their efforts, Dallas faced challenges in signing marquee players. Derrick Henry, one of the most coveted running backs in free agency, ultimately signed with the Baltimore Ravens on a two-year, $16 million contract. The Ravens' deal with Henry, which includes $9 million fully guaranteed and potential incentives that could push the total value to $20 million, underscored the high cost and competitive nature of pursuing top-tier talent.
Speaking on the "Pivot" podcast, Henry expressed his thoughts on his career trajectory: "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." Reflecting on the Cowboys' interest in him, Henry added, "They never reached out, you know what I'm saying? ... They weren't really interested. It is what it is."
Cowboys owner Jerry Jones acknowledged the team's financial constraints, stating, "I like our personnel. We couldn't afford Derrick Henry." This sentiment was reiterated multiple times, emphasizing the organization's cautious financial strategy and commitment to staying within budget.
Cap Management and Team Performance
One of the key financial maneuvers the Cowboys employed was the post-June 1 release designation of Ezekiel Elliott, which results in a $6.04 million cap charge for 2024. This strategic decision aims to manage the team's salary cap efficiently while addressing immediate roster needs.
However, the Cowboys' current performance in the rushing game leaves much to be desired. Ranking 30th in the NFL, Dallas averages just 73.7 yards per game. Their running backs have managed only 170 yards and one touchdown on 49 attempts, averaging a meager 3.5 yards per carry. Additionally, the team is minus 74 rushing yards over expectation, ranking just above the Chicago Bears and Miami Dolphins.
Looking at the Competition
Contrastingly, Derrick Henry's performance with the Ravens has been impressive. Accumulating 281 rushing yards, Henry ranks fifth in the NFL. He is also tied at the top for rushing touchdowns, with four to his name. Henry's average of 5.0 yards per carry and 65 rushing yards over expectation positions him among the league's elite running backs.
In the broader context of the league, the Philadelphia Eagles made headlines by making Landon Dickerson the highest-paid offensive guard in the NFL with a new deal in March. Such moves by rival teams highlight the competitive and financial pressures faced by organizations like Dallas, striving to balance talent acquisition and fiscal responsibility.
As the Cowboys forge ahead, Jerry Jones has proclaimed that Dallas would be "all in" for the 2024 season. This declaration sets the stage for a critical year ahead, as the team navigates the complexities of cap management, player performance, and strategic acquisitions to position themselves as strong contenders.