Derrick Henry contract details: Ravens star becomes highest paid NFL running back over 30

Despite his age, the Ravens are keeping their backfield star for the future. 

Derrick Henry agreed to a contract extension with Baltimore on Wednesday, according to ESPN's Adam Schefter. The new deal is for two years and $30 million and is a historic one, as it makes Henry the highest paid running back over 30 in NFL history. 

Henry was a bell cow for Baltimore in his age 30 season in 2024, tallying 325 carries for 1,921 yards and a league-high 16 rushing touchdowns. The Ravens are showing they believe he can continue that production as he ages.

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Here's a look at Derrick Henry's new contract.

Derrick Henry contract details

• Years: 2
• Value: $30 million

Henry's new contract is for two years and $30 million, with $25 million fully guaranteed. The deal provides Henry with an average salary of $15 million per season, a record for a running back over 30.

Flockkkkkk 🐦‍⬛🐦‍⬛🐦‍⬛💜🫡💪🏾
God is good !! 🙏🏾🙏🏾@Ravens I’m appreciative & grateful for everyone apart of this great organization & a BIG S/O to all my teammates to be able to make this possible 🤞🏾. Thank you Flock Nation for always supporting . Working as hard I can to be able to…

— Derrick Henry  (@KingHenry_2) May 14, 2025

Henry signed a two-year, $16 million contract with Baltimore last offseason. He proved to be the perfect addition for quarterback Lamar Jackson, giving the Ravens one of the most dangerous rushing attacks in the league. Henry was set to be an unrestricted free agent after this season, and the team proved to be eager to get a new deal done.

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Ravens running back depth chart

With Henry staying with the Ravens for the next two seasons, he remains the clear No. 1 backfield option. His workload in Tennessee, before signing with Baltimore, raised some question marks as to how effective he would be when he turned 30, but his 2024-25 season answered most of them. Henry earned his fifth Pro Bowl selection and was named a second team All-Pro.

Are running back contracts rising?

Running back contracts appear to be on the rise across the NFL, after the position had a challenging time in free agency for years.

In the 2024 offseason, the top seven free-agent running backs averaged $12.1 million in guaranteed money, up from $7.1 million in 2023. This offseason, Saquon Barkley signed a two-year extension with the Eagles that's worth an additional $41.2 million to make him the highest-paid running back in NFL history.

Henry's new deal, considering his age, is even more of an indication that teams have been reevaluating the market and are more willing to sign running backs to big contracts.

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Derrick Henry career stats

Henry started his career in Tennessee in 2016 and quickly became a franchise cornerstone. From 2018 to 2023, he was arguably the best running back in football, averaging 1,378 rushing yards and 13 rushing touchdowns.

In Baltimore, Henry has continued his dominance on the ground, rushing for 1,921 yards and an NFL-high 16 rushing touchdowns in 2024-25. Here's a look at his career stats.

Derrick Henry net worth 

According to Spotrac, Henry has earned a total of $67,472,749 throughout his NFL career. He was previously on a two-year, $16 million deal with the Ravens that guaranteed $9 million.