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The Tennessee Titans made the move we all expected them to and re-worked the contract of quarterback Ryan Tannehill in order to fit Julio Jones’ $15.3 million 2021 cap hit in.
The Titans converted Tannehill’s base salary into bonus money that will be spread out and paid over the next few seasons, and they added two voidable years to his contract, freeing up over $18 million immediately, per NFL Network’s Ian Rapoport.
Tannehill won’t make a penny less over the entire course of the deal.
According to Spotrac, the signal-caller’s 2021 cap hit goes down from $29.5 million to just $10.76 million, but his cap hits for 2022 and 2023 are now $38.6 and $36.6 million, respectively.
If the Titans want to get out of Tannehill’s contract before it runs out after 2023, they’d incur a huge dead cap hit of $57.7 million next year or $19 million should they decide to part ways before the following season.
The two voidable years on the deal will cost the Titans $4.68 million apiece in 2024 and 2025.
Significant update from @Rapsheet, altering the #Titans cap. Ryan Tannehill’s restructure included adding two void years to his contract, which means $18.7M of cap has been cleared this year.
2021: $10.76M
2022: $38.6M
2023: $36.6M
2024: $9.37M dead caphttps://t.co/EIxLf4oMTU https://t.co/mPYfKlNR8c— Spotrac (@spotrac) June 8, 2021
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