Derrick Henry and the Baltimore Ravens reached agreement today on a two-year, $30 million extension that includes $25 million fully guaranteed over the next two seasons, per Todd France of Athletes First. It is the largest deal in NFL history for a running back over 30 years old. pic.twitter.com/aeeqmHczPb
— Adam Schefter (@AdamSchefter) May 14, 2025
Per Schefter, Henry is set to make $25 million fully guaranteed over the next two seasons, a massive sum for a 31-year-old running back. Henry received a mere $9 million guaranteed on the two-year deal he signed with the Ravens last offseason.
Rewarding Henry after the season he just had makes a ton of sense. His 1921 rushing yards led the AFC, and his 16 rushing touchdowns led the NFL. His dominance was central to the Ravens achieving the rare feat of leading the league in rushing yards per attempt and passing yards per attempt in 2024.
If anything, Henry's modest deal speaks to just how far the market has fallen for ageing backs. This pact falls well short of the two-year, $41.2 million contract Philadelphia Eagles running back Saquon Barkley signed this spring as well as the two-year, $38 million extension Christian McCaffrey signed with the San Francisco 49ers before the 2024 season.
Henry is now tied to the Ravens through the 2027 season, at which point he'll be 34 years old. The odds are that he won't maintain his effectiveness that long, but precedents may not apply to a player as special as Henry. Thanks to his stellar 2024 season, he's already the first player to rush for 1900 or more yards in two separate seasons.
The Ravens clearly recognize that they've found a formula that works on offense, and having Henry on their roster should bring them closer to the Super Bowl that has eluded them under quarterback Lamar Jackson. Despite the Ravens' Divisional Round exit, Henry was clearly an asset in the postseason: His 135.0 rushing yards per game led all players, and he did so at an incredibly efficient 6.4 yards per attempt.
In all likelihood, the Ravens are betting that Henry can still be a valuable contributor for a couple more years. His presence should make things easier on Jackson and help the Ravens remain one of the league's most efficient offenses. As long as Henry is in his prime, the Ravens' Super Bowl window will be wide open.
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