Derrick Henry was set to hit the open market this offseason, and it appeared that the Tennessee Titans were much more interested in getting a deal done with the NFL's leading rusher instead of worrying about Ryan Tannehill's new deal. One day before the deadline for teams to place the franchise tag or transition tag on a player, however, the Titans agreed to a long-term extension with Tannehill.

The following day, the Titans made the decision to place the franchise tag on Henry. The former second-round pick carried the Titans to the postseason last year, as he rushed for 1,540 yards and 16 touchdowns while averaging a career-high 5.1 yards. In the playoffs, he somehow took his game to another level. Henry rushed for 182 yards and a touchdown in the wild-card round against the New England Patriots, 195 yards against the 14-2 Baltimore Ravens in the divisional round and then 69 yards and a touchdown against the Kansas City Chiefs in the AFC Championship game. 

Henry has evolved into one of the best running backs in the NFL, and doesn't show the normal fatigue backs do over the course of a season. In fact, it's quite the opposite. During the last four games of the 2018 season, Henry rushed for 585 yards and seven touchdowns. While Henry recorded just one 100-yard game in the first nine weeks of the 2019 season, he recorded five 100-yard rushing games in his last six regular-season games. Giving a running back a huge contract is a big decision, but Henry has proven that he can carry an entire offense to the precipice of the Super Bowl.

Now that Henry has received the franchise tag, will he make the decision to hold out for a better deal? Here's a look at his offseason before being tagged by Tennessee.

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Derrick Henry
BAL • RB • #22
Att303
Yds1540
TD16
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Scouting report on Henry (pros and cons)

Pros:

  • Rare combination of size and speed (6-foot-3, 247 pounds)
  • Physical, downhill runner, runs through contact
  • Home-run hitter, holds the record for longest rushing touchdown
  • Dangerous both inside and outside the tackles
  • Shows no signs of fatigue, has played through injuries, never missed more than one game in a season

Cons:

  • Nearing 900 career touches, how much tread is left on the tires?

Free agent timeline

Fantasy fallout: Titans tag Henry and bring stability to their projections

Monday, March 16: "I expect the Titans to regress towards league average when it comes to the total number of plays they run offensively, but also throw slightly more. They were outliers in both of these regards, but applying both measures means more pass attempts but nearly the same amount of rush attempts. In other words, they're still going to run more than 90% of the league."

"At a 70% market share, I have Henry at 327 carries over 16 games. I'm projecting him at his career average of 4.8 yards per carry and still just 6% of the team's target share in the passing game. Where it really gets difficult is the touchdowns. In 2019 Henry scored 16 times on 303 carries. His career average is once every 21 carries. So the initial projection would have been for 16 touchdowns on the ground. I don't project players for 16 rushing touchdowns, and no other back is currently projected for more than 11.5. With that in mind, I lowered Henry's down to 12.9, still 10% more than any other back."

Read more from Heath Cummings' story, here.

Titans to use franchise tag on Derrick Henry

Monday, March 16: "In all likelihood, Derrick Henry will remain in Tennessee for the 2020 season. The Titans are using the franchise tag on their star running back, per multiple reports. 

The news of Henry's tag comes a day after the Titans agreed to terms with quarterback Ryan Tannehill on a long-term contract that will pay $118 million over four years, according to ESPN's Jeff Darlington. The deal includes an average annual salary of $29.5 million and $91 million in total guarantees.

After receiving the tag, Henry will draw a salary of approximately $10.278 million for the 2020 season unless he and the Titans can reach an agreement on a long-term extension by July 15, according to projections from CBSSports.com's former agent Joel Corry."

Read more from Jared Dubin's story, here.

Titans to consider tagging Henry, per report

Wednesday, March 4: "At the NFL combine last week, the big decisions facing Tennessee were a popular subject of conversation, and ESPN's Matthew Berry says he has a good idea of what the Titans will end up doing. According to a 'Titans insider' Berry apparently spoke with, he expects the team to franchise tag Henry if they can't agree to a long-term deal, and allow Tannehill to test open market."

Read more from Jordan Dajani's story, here.

Titans GM determined to re-sign Henry

Tuesday, Feb. 25: "Recent history indicates that resetting the market by giving a running back big money is not always smart, and while Henry carried the Titans to the AFC Championship game, it's unknown if Tennessee would be willing to make him the highest-paid running back in the league.

During media availability on Tuesday ahead of the NFL Combine, Titans general manager Jon Robinson sounded determined to work out a deal to keep Henry in Nashville.

'Derrick had a great year for us,' Robinson said, via Erik Bacharach of the Tennessean. 'I mean he led the league in rushing, he built off the second half of the 2018 season that he had, he cares about his teammates, he works hard, he's great in the community and we're going to work through that one and do everything we can to try to keep him around.'"

Read more from Jordan Dajani's story, here. 

Henry clarifies his 'Zeke is the floor' comment

Friday, Feb. 21: "Basically I misunderstood what Rick said. I was basically agreeing to 'Zeke is the floor' as far as to my understanding ... as him being the highest-paid," said Henry. "He's the peak of where running backs want to be at as far as getting paid. That was my understanding of him saying 'Zeke is the floor.'

"Like I said in every other interview, I'll get my agent, he will handle all the contract negotiations, that's his job, he's been doing it for a long time and we'll see where it goes as far as the Titans and trying to get this thing figured out." 

Read more from Jordan Dajani's story, here.

La Canfora: Titans must heed warning signs on Henry

Friday, Feb. 7: "Sorry, but I'd be drafting them in the middle rounds and renting them for a few years on streamlined free agent contracts (like the Ravens are doing with Mark Ingram) and saving my money for quarterbacks and defensive ends and corners and left tackles. It gets more obvious by the year, and even Henry's playoff heroics wouldn't sway me."

"Tag 'em twice if you have to, and then move on. It may be cruel, but the economics of the NFL dictates it. Even with a swelling salary cap, I'd spend my money elsewhere."

Read more from Jason La Canfora's story, here. 

'Zeke's number is the floor'

Friday, Jan. 31:

Jerome Bettis weighs in on Henry's future

Tuesday, Jan. 28: "I would expect a big year from him (in 2020)," said Bettis. "I think people, especially the Tennessee Titans, they're starting to understand how you fully utilize a running back like Derrick Henry. It took them a few years, but much like when he was at Alabama ... you don't get his true ability with 5, 6, 10, 15 carries. He needs 25 carries, 30 carries for you to see his true effectiveness and how special he is as a running back."

Read more from Bryan DeArdo's story, here. 

Agent's take: What's next for Derrick Henry

Wednesday, Jan. 22: "Getting a deal done with Ryan Tannehill would leave the franchise tag for Henry. An inability to sign Tannehill in a timely fashion likely means Henry will be a transition player. The non-exclusive running back franchise and transition tags are expected to be $10.732 million and $8.56 million respectively with a $200 million salary cap. The transition tag only gives teams a right of first refusal with an offer sheet whereas the non-exclusive franchise tag provides two first round picks if matching rights aren't exercised."

"Henry will likely be looking to join the top running back salary tier with his next contract. However, he doesn't fit the profile of running backs who have been commanding top dollar. Dual threat running backs have been getting that type of money lately. Henry doesn't add much in the passing game. He is more of a traditional ball carrier from the previous era."

Read more from Joel Corry's story, here.