Ravens given best odds to sign RB Derrick Henry

The Baltimore Ravens enter an offseason of expected turnover at several positions. One such position is running back, where the Ravens could lose Gus Edwards and J.K. Dobbins in free agency.

Baltimore has only had one running back cross 1,000 rushing yards in the Lamar Jackson era, mainly due to a committee approach at the position. Could the Ravens buck that trend and go after a true workhorse back this offseason? The betting market appears to think so, as DraftKings Sportsbook has Baltimore with the best odds at +200 to sign veteran running back Derrick Henry.

What jersey will King Henry be wearing next season?

(Odds via @DKSportsbook) pic.twitter.com/CWXJWWHiQq

— NBC Sports Bet (@NBCSportsBet) February 18, 2024

Henry, 30, is expected to hit the open market after spending his first eight seasons with the Tennessee Titans. Fresh off a season in which he rushed for 1,167 yards, Henry still has gas left in the tank despite an extensive career workload.

Spotrac lists Henry with a calculated market value of $10.3 million for one year, which would be difficult to justify for the Ravens given the number of free agents set to hit the open market and a limited amount of cap space to dole out among various positions of need.

Even if it is not a sizable investment like Henry, Baltimore will need to add another running back to the roster, considering that only Justice Hill and Keaton Mitchell are set to return, and Mitchell is coming back from a torn ACL near the end of the 2023 season. Re-signing one of Edwards or Dobbins is a potential option, as is targeting someone else in free agency or selecting one in the draft.