NFL Running Backs got paid early in the 2024 free agency.
Much talk happened last offseason about the amount of money spent on running backs in the NFL. Leading backs Jonathon Taylor, Josh Jacobs, and Saquon Barkley were franchise-tagged and threatened to miss some time during the season due to lack of commitment and money.
The narrative changed very early during the 2024 free agency when Deandre Swift, Saquon Barkley, Josh Jacobs, and Tony Pollard got a sizeable contract on the first day of the “tampering period” free agency.
How did this change so quickly? What does that tell us for this year’s draft class of running backs?
NFL Running Backs Got Paid
Besides the Dallas Cowboys, any team that needed a running back seemed to get one. That group included Saquon Barkley, Josh Jacobs, Derrick Henry, Tony Pollard, Austin Ekeler, and D’Andre Swift. Most deals were one- or two-year contracts, but teams hurried to get their guy. In most cases, they could land starter-level talent for under $10 million annually.
How would this happen if the story about the NFL was that running backs were not getting paid? If you dive a little deeper, nothing happens.
According to Spotrac, the NFL average for the percentage of the cap spent on running backs is the same.
Heading into 2024, the average cap percentage spent on running backs is 3.25%. The outlier in the 2024 group is the New Orleans Saints with Alvin Kamara. If you look back at the average cap percentage of the NFL over the last four years (and including next year), it has remained pretty consistent:
- 2024 – 3.25%
- 2023 – 3.13%
- 2022 – 3.08%
- 2021 – 3.21%
- 2020 – 3.06%
Some teams are outliers each year, such as the Saints and Kamara, but even with a slightly higher 2024, it is still well within the range of the NFL’s trend.
Due to the salary cap increase, teams can afford to pay running backs more. Before the 2024 season, the NFL salary cap increased to an all-time high of $255.4 million, $30 million higher than last season. Teams are paying running backs more because they can afford to pay them more.
Why did all these running backs sign so fast, though? Likely agents of these individuals telling them to take the money. The running back market is so fluid they probably advised taking the money and run.
Weak Rookie Running Back Class
The 2023 NFL Draft had Bijan Robinson as the eighth overall pick and Jamyr Gibbs as the 12th overall pick. The 2024 draft will not be the same. Most draft experts consider this year’s running back draft class “weak.”
Oregon’s Bucky Irving, Texas’ Jonathon Brooks, Tennessee’s Jaylen Wright, and Florida State’s Trey Benson are considered the top draft options for the running back position in 2024. Of those four options, Jonathon Brooks is regarded as the best. Pro Football Focus has Brooks as the 64th-ranked player in the draft, which would put him late into the second round or early in the third round.
The availability of top-tier talent at the running back position in the NFL is another reason running backs got paid in free agency. Teams may still take one of these backs as a long-term viable option, but the teams turned to veterans in the short term.
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