Like most teams, the Baltimore Ravens are in a bit of a lull at this point of the offseason. However, there’s still one major question to answer.

Of course, that would be star running back Derrick Henry’s contract situation. Henry had an outstanding debut season with the Ravens, rushing for 1,921 yards and 16 touchdowns, but he’s now entering the last year of his deal. He’s also very underpaid for what he provides at $8 million per year, not even placing him in the top 10 among running backs.

With just two weeks to go until the draft, NFL.com columnist Jeffri Chadiha questioned what the Ravens plan to do with Henry’s contract, and when they plan to do it.

“Henry is entering the last year of a two-year, $16 million deal, and he clearly outperformed his contractual value in 2024, when all he did was log the best campaign ever by a running back 30 years or older (1,921 yards on the ground, with 18 total touchdowns),” Chadiha wrote. “If not for Philadelphia’s Saquon Barkley, Henry likely would’ve ended up as the NFL’s Offensive Player of the Year.”

“Henry should actually be thankful for Barkley when it comes to a different matter, though: The Eagles quickly moved to raise Barkley’s pay after he helped them win a Super Bowl, increasing his average annual salary from $12.58 million to $20.6 million. Like Henry, Barkley had a seismic impact on his franchise in his first season with a new team in 2024.”

Barkley’s new deal with the Eagles makes him the highest-paid running back NFL history, and it could serve as somewhat of a comparison for Henry’s next deal. He won’t make nearly as much as he’s older and has more mileage on his body, but he will definitely earn a big raise.

It helps that the Ravens clearly believe Henry will keep up his outstanding play.

“Ravens GM Eric DeCosta raved about Henry while speaking to media at the NFL Scouting Combine, suggesting he’s not willing to place his star in the same category that many people put running backs,” Chadiha wrote. “Said DeCosta: ‘I think they’re looked at as probably replaceable by some people, but if you have a great one, if you have a historic one, you can’t replace those guys. They impact the game in many different ways, and they create nightmares for defenses.’

“We’ll see what that means for Henry’s bank account in the coming months. He was arguably the biggest bargain in the league last season, and that certainly needs to change.”