The team agreed with the veteran running back on a two-year, $30 million contract, agent Todd France told ESPN's Adam Schefter. Henry, 31, signed a two-year, $16 million contract with the Baltimore Ravens ahead of the 2024 season, which at the time ranked him in a tie for 11th place in average annual value among running backs.

ORCHARD PARK, NEW YORK - JANUARY 19: Derrick Henry #22 of the Baltimore Ravens looks on prior to the game against the Buffalo Bills during the AFC Divisional Playoff at Highmark Stadium on January 19, 2025 in Orchard Park, New York. (Photo by Al Bello/Getty Images)

The Baltimore Ravens made a massive move to secure the services of star running back Derrick Henry for two more years. Henry has been awarded a huge extension, which is also a record for a running back over the age of 30 years old.