Tennessee Titans running back Derrick Henry is set to hit free agency in March.

The Titans will not issue Henry the franchise tag before the March 5 deadline, according to ESPN’s Adam Schefter. Thus, the four-time Pro Bowler will become an unrestricted free agent next month.

Henry played the 2023 season on the final year of the four-year deal that he signed with the Titans in 2020. He was in the trade rumor mill with teams such as the Baltimore Ravens ahead of this past season’s NFL trade deadline, but he wound up staying put in Tennessee for the remainder of the campaign.

Could the Ravens make a push to sign Derrick Henry?

The Ravens have been linked with Henry as of late. ESPN’s Jeremy Fowler recently noted that he thinks Henry is "on the radar" for Baltimore. He did add that the Ravens do not aspire to shell out more than $10 million to bring in a running back in free agency. 

The Ravens could look to instead sign New York Giants’ Saquon Barkley or Dallas Cowboys’ Tony Pollard in free agency. Schefter noted on Monday that the Giants "will speak with Barkley and explore a deal with him," but it is "unlikely" that they end up handing him the franchise tag. In Pollard’s case, the Cowboys are "not expected" to franchise tag him.

Baltimore has a total of three running backs who are under contract for next season.

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Key updates.