The upcoming free agency period in the NFL is set to be a dynamic one, especially in the running back market. With notable players like Josh Jacobs, Saquon Barkley, and Tony Pollard all expected to hit free agency, teams are gearing up to make moves to secure their services. The Las Vegas Raiders will make an attempt to re-sign Jacobs, while the New York Giants and the Dallas Cowboys are also exploring deals with Barkley and Pollard, respectively.
Unlike in previous years, where running backs like Jacobs, Barkley, and Pollard were restricted with franchise tags, it appears that this offseason will see a departure from that trend. Teams are hesitant to use the costly franchise tags on these players, with figures exceeding $12 million for each player. The Tennessee Titans have decided not to tag Derrick Henry, and the Los Angeles Chargers are letting Austin Ekeler test the waters of free agency.
The 2024 offseason presents one of the most talent-rich running back classes in NFL free agency history. With players like D’Andre Swift, AJ Dillon, Devin Singletary, Zack Moss, J.K. Dobbins, and more set to hit the market, teams have a plethora of options to choose from. This influx of talent could potentially drive down the prices in free agency due to the high supply of quality running backs available.
The recent announcement of the NFL salary cap for the 2024 season being set at a record $255.4 million per team has significant implications for free agency. This substantial increase of $30.6 million per team from the previous year provides teams with more flexibility to pursue top-tier talent in the running back market. It remains to be seen whether this influx of cap space will lead to higher payouts for the top running backs in free agency.
The running back market has been notoriously challenging in recent years, with scarce long-term contracts exceeding $10 million per year. Jonathan Taylor’s three-year, $42 million extension with the Indianapolis Colts marked a significant milestone as the first running back since 2021 to secure such a lucrative deal. This offseason, the running backs entering free agency will face the challenge of commanding salaries that match their franchise tag numbers, given the competitive landscape and abundance of talent available.
Overall, the running back market in 2024 presents a unique opportunity for teams to acquire top talent at potentially reduced prices. The abundance of quality players available, coupled with the record-high salary cap, creates an environment where teams can strategically navigate free agency to bolster their running back position. As the offseason unfolds, it will be intriguing to see how teams approach negotiations with the standout running backs set to hit the market and how the landscape of the NFL running back market evolves in response to these developments.
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