Running back Javonte Williams bet on himself last year, signing a one-year, $3 million contract. He had a career-high 1,200 yards rushing.
His reward is Three-year, $24 million deal Stay with the Cowboys.
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Since Williams’ deal is the first major contract signed by the impending free agents, it’s important to keep a few things in mind as we approach new contract season. Initial reports often overstate the true value of the contract. For example, Williams’ reportedly $16 million in guarantees was certainly not fully guaranteed at the time of signing, and there was little structure to the deal. There may be some fabrication going on to make the deal look better than it actually is, as reporters eager to tweet out early information rarely insist on providing complete and accurate details. (If they did, everyone else would get the scoop.)
For now, even the potentially exaggerated initial reports underscore an important point: The running back position remains undervalued.
If the deal is indeed worth $8 million per year, Williams would rank 16th among all current running backs. He accepted the offer before the annual Tampering Festival in Indianapolis, where he likely learned someone would offer him much more than that.
The Cowboys may actively try to prevent this from happening, perhaps by negotiating directly with the players in violation of CBA practices.
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What will Williams get on the open market, though? Only superstars at this position can command market value. Eagles running back Saquon Barkley tops the list with an annual salary of $20.6 million. 49ers running back Christian McCaffrey’s current new contract has an average new salary of $19 million.
The reason this happens is simple. The supply of capable running backs exceeds the demand. Teams can use the draft to recruit a younger, cheaper, and generally healthier player rather than paying a veteran who may not be able to replicate his performance in a contract year.
Every year, college football produces a ton of running backs who can compete at the NFL level if they can be trusted to run the ball and catch blitzes in pass protection. Most of them had their best years on their rookie contracts. When these players expire, teams look for another young player to replace them.
While the Cowboys may be doing themselves a favor by locking up Williams before he can see other teams, the Cowboys have given other teams a data point that will be relevant to their negotiations with the running back. Other players who want to get paid (Kenneth Walker III, Brees Hall, Travis Etienne, Rico Dowdell, Rashard White, Isiah Pacheco, JK Dobbins) will have to contend with the argument that a player who rushes for 1,200 yards in 2025 will only make $8 million per year.
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Then there’s Lions running back Jameer Gibbs. Currently, he is eligible for a second contract, and he has shown superstar ability to prove that he can get a market-level contract. Will a Williams trade dampen offers from the Lions?
It shouldn’t be. Gibbs is much closer to Barkley and McCaffrey than players hitting the market. Still, all running backs set to hit free agency must face the fact that — as Williams’ trade underscores — the running back market is still not what it could be, or perhaps what it should be.
