Not only were the Tennessee Titans able to secure running back Derrick Henry’s future in Nashville for the long haul, they also created more cap space.
Henry and the Titans agreed to a four-year, $50 million contract extension on Wednesday just ahead of the deadline. And with that new contract, the Titans will actually save money in 2020.
According to Spotrac, Henry’s cap hit for the first season of the deal will be $6 million, which is over $4 million less than what the franchise tag would have cost. Tennessee now has over $24 million in cap space as a result.
Here’s the full breakdown of the contract.
| Year | Base Salary | Signing | Cap Hit | Dead Cap |
| 2020 | $3 million | $3 million | $6 million | $25.5 million |
| 2021 | $10.5 million | $3 million | $13.5 million | $19.5 million |
| 2022 | $12 million | $3 million | $15 million | $6 million |
| 2023 | $12.5 million | $3 million | $15.5 million | $3 million |
Henry’s salary will balloon from $6 million in 2020 to $13.5 million in 2021, however the Titans will have outs in 2022 and 2023 with dead cap numbers of $6 million and $3 million, respectively.
Clearly this is a solid deal for both sides.
Henry gets $25.5 million guaranteed, which is more than two franchise tags, and the Titans have the ability to get out of the deal after two years if necessary. Henry will just be hitting 30 when the contract ends, also.
What makes this deal even better is now the Titans have more wiggle room to sign free agents for this upcoming season.
At the top of the list is obviously Jadeveon Clowney, or at least another pass-rusher who is still available. From there, Tennessee could look to use its newfound funds on a veteran backup quarterback, kicker and/or wide receiver, also.
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