The Patriots have a number of players set to become free agents in March. Some, like Mike Onwenu, should be long-term trade candidates. Others, like Trent Brown, should be able to walk away without protest. But others fall somewhere in between.
They are very good players who will help New England in 2024, but they are not guaranteed lucrative long-term contracts. The franchise tag might make more sense for them. Feed Starting in February, NFL teams will get their chance. Franchise tags will be awarded between March 20th and March 5th. Free agency begins shortly after March 13th. You can bet the Patriots will let Henry go on his own and sign him to a multi-year deal.
But the franchise tag could be an option for the struggling 29-year-old. However, according to Patriots salary cap expert Miguel Benzan, NFL rules require Henry’s tag number to be closer to $19 million, making him one of the highest paid in football.Obviously, this is a big difference that completely changes the story. Is Henry worth spending that much money? Maybe not for a contending team, but it could be a different story for the rebuilding Patriots.
All signs point to New England getting a new franchise quarterback in 2024. For that quarterback to be successful, he needs to be surrounded by big pieces, including a tight end at left tackle and a big-play receiver. But they also need a reliable, chain-moving passer who can be a threat in the red zone. This is Henry. Although his peak days are over, Henry is still an above-average option at the position.
In his first three seasons in New England, he averaged 47 catches for 542 yards and six touchdowns in 17 games despite numerous problems running the offense. Henry also played in 48 games before missing the final three games of the 2023 season, allaying concerns about his durability.Henry was also named team captain and established himself as a leader in the locker room.
He is rich on and off the field.The Patriots should target another franchise tight end in the draft. But you can’t go into the season with a tight depth chart led by a rookie like Pharaoh Brown and a mediocre veteran.Give Henry the franchise tag and bring him back for at least one season, even if he is overpaid. There we go and it’s a no brainer.
First, Henry could end up with the Patriots after the drama of the past three years. And if he’s not happy, the Patriots shouldn’t force the issue.But Henry isn’t doing well either. That’s because most of his stats are in the middle between all of the rough times from 2021 to 2023. He is at his best in short-range and near-the-goal-line scenarios. If you think the Patriots need a modern tight end who can make big plays, Henry is not your guy. It’s more durable than you think.With that goal in mind, Henry might not be the best pick in free agency.
That honor goes to 27-year-old Dalton Schultz, who is two years younger than Henry and a middle blocker. Noah Fant, 26, also resembles Henry in terms of size, blocking and passing ability. If New England is willing to pay around $19 million for the tight end, he could bid on Henry in both free agency and the trade market. Henry gets extra points for being a popular product. However, if existing assets are replaced with better players for similar or less money, New England should consider it.
On the other hand, similar claims have been made to target JuJu Smith-Schuster against Jacoby Meyers. Look what happened. Ultimately, if the Patriots want to keep Henry, they will need to sign him to a multi-year deal at a cheap and reasonable salary. Spotrac currently gives Henry a one-year market value of $7.6 million in 2024, which seems about right. Maybe it could be done in two years, $15 million later.Still, putting the franchise tag on Henry is a no-brainer for the Patriots.
