The Tennessee Titans landed quarterback Ryan Tannehill an elite weapon in 32-year-old receiver Julio Jones. So it would make sense that Tannehill would scratch the team’s back since they scratched his.
According to NFL Network’s Ian Rapoport, Tannehill agreed to restructure his contract on Tuesday, converting $23.4 million of his guaranteed base salary into a bonus that will be paid over the next two seasons and adding two voidable years onto the end of his contract.
The 32-year-old was set to be the fourth-highest paid quarterback in the NFL in 2021 behind only Aaron Rodgers ($37.2 million), Russell Wilson ($32 million) and Kirk Cousins ($31 million).
The move frees up $18.7 million for the Titans, who had about $3.9 million in cap space at the time of the trade and added Jones’ $15.3 million salary on Sunday, which is not fully guaranteed. The seven-time Pro Bowler’s salary will drop to $11.5 million in 2022 for the final two years of his current contract.
“[I’m] excited to bring Julio on board,” Tannehill said on Sunday following the trade. “To pair him across from A.J. (Brown) on the other side, it’s really a dynamic duo for our wide receivers. Looking forward to what he can bring to the table."
Tannehill, who signed a four-year, $118 million contract last offseason, will make just $10.76 million in 2021 but will see that shoot up to $38.6 million in 2022 and $36.6 million in 2023 with $9.37 million in dead cap space in 2024, according to Spotrac.
The Titans have other restructuring options available — for example, Derrick Henry, Rodger Saffold, Taylor Lewan, Kevin Byard — should they need to free up more cap space to add another free agent pass rusher such as Melvin Ingram, Justin Houston or Olivier Vernon.
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