Are We Seeing the Revival of Running Backs in the NFL?
The value of running backs depreciated a lot during the 2023 offseason. A lot of questions surrounding how much running backs deserve to be paid with their risk of injury and less use as the league transitions to more passing. This left running backs frustrated and worried. After the 2023 Season, we have since seen a revival of huge contracts and big names signed all over the league as we head into the 2024 Season.
Photo Credit: Jeffrey Becker, USA Today
A big case that brought questions to the value of running backs started with Jonathan Taylor of the Indianapolis Colts. Taylor was injured at the end of the 2022 Season and placed on their injury reserve in Week 16. He recovered from this injury during the offseason and was hoping to get into contract negotiations, but the Colts weren’t feeling the same way. This led to Taylor being frustrated, and he had the option to sit out for the 2023 Season. After no contract extension during the 2023 offseason and a long wait, the Colts and Taylor agreed to a three-year, $42 million contract. This situation was a huge step in the right direction for running backs as their value was in jeopardy.
Moving into the 2024 offseason, a lot of running backs contracts were up and they became free agents. Names like Saquon Barkley, D’Andre Swift, Derrick Henry, Aaron Jones, Josh Jacobs, Tony Pollard, Joe Mixon, Austin Ekeler, and many more. These deals were done quickly and a lot of them were paid big. Five of the ten highest paid running backs were signed in free agency in the 2024 offseason. This revived the value of running backs compared to last season where we witnessed what almost was the downfall of paying backs.
Photo Credit: Vincent Carchietta, USA Today
In the 2023 offseason not one running back signed in free agency had an annual salary over $7 million. This 2024 offseason, we have seen five big names reach above that annually. Josh Jacobs’ deal came out to a four-year, $48 million deal. The reason for this is because of how we saw the league trend this year. Having one or two consistent running backs has immensely positive effects on offenses. Along with that, running backs have shown their ability to catch the ball and gain yards after the catch.
The Detroit Lions are a great example of what having two solid running backs can do to an opponent. They scored 27 rushing touchdowns in the 2023 Season and put on dominating performances with their run game. Another team that has shown effective running is the San Francisco 49ers with Christian McCaffery. He scored 14 touchdowns in the 2023 Season and is the one of the toughest runners in the league. Although Christian McCaffery didn’t sign a deal this year, he is the highest-paid running back in the NFL. In 2020, McCaffery became the highest-paid running back with a four-year extension and around $16 million a year. McCaffery stands above most backs with his impact on the 49ers. We don’t see many backs as good as him in today’s game, and that is another reason they aren’t getting paid that much.
Photo Credit: Ezra Shaw
As of recently, a lot of big names have been getting paid. Looking into the 2024 Draft Class, there aren’t any stand-out running backs this year. With that being said, teams that need of a running back did not have much of a choice but to pay these players. Ultimately, this showed a supply issue with running backs in the 2024 Draft and a demand from the big-name players that have been waiting to get paid.
As the NFL has shifted from more of a defensive and running league to a fast-paced and passing league. Running backs were at risk of not being paid for all the hits they took, and it was very frustrating for the players in the 2023 offseason. With a weak running draft class and tons of big-name players in free agency. Many teams were quick to acquire who they could. Running backs got paid big, but the question is how long will it last? If there is a lot of draft talent many general managers would rather go get someone young who they can develop rather than pay someone who already hit their prime. This offseason is a little different with there being little running back draft talent and that is why so many running backs got paid quickly. We have seen a temporary revival of running backs in the NFL, but we could see a shift back to younger and less expensive talent in the future.
