Titans use franchise tag on Henry
A day after ensuring quarterback Ryan Tannehill will be with the team next season, the Titans have done the same with running back Derrick Henry.
Tennessee has placed the non-exclusive franchise tag on Henry, a source confirmed. ESPN'S Adam Schefter first reported the news, and the team later announced it. The move ensures Henry will be with the team in 2020. The franchise tag for a running back this upcoming season is worth $10.278 million, per Sports Illustrated's Albert Breer.
With a tag on Henry, the Titans now have until July 15 to agree on a multiyear extension. They have exclusive rights in doing so. After that point, Henry can sign only a one-year contract, which can't be extended until after the season.
The "non-exclusive" designation means Henry can receive offers from other teams. If another team makes an offer, the Titans have the option to match it or get two first-round draft picks in exchange, an unlikely eventuality.
The deadline to tag players was 10:59 a.m. CT Monday, two days before the beginning of free agency. On Sunday, the Titans re-signed Tannehill to a reported four-year deal worth $118 million, including $62 million in guarantees.
"If you can't work (a long-term contract with a player) out, I won't say (a tag) is a bad thing; I don't know if it's a good thing," Titans general manager Jon Robinson said at the NFL Scouting Combine on Feb. 25. "It's just a resource that we have to use. But we've got a lot of good players. We want to try to keep as many good players on our team as possible, and we'll see how it goes."
Henry, 26, is coming off his first Pro Bowl season. In 2019 for the Titans, he led the league with 1,540 rushing yards while serving as the engine for the Tennessee offense. With 446 more rushing yards in three playoff games, he played a vital role in helping the Titans advance to the AFC championship game for the first time since the 2002 season.
"I'd love to be a Titan for the rest of my career," Henry told USA TODAY Sports in January. "Love the organization, love the team, love everybody, love the fans and love the city."
Reach Erik Bacharach at ebacharach@tennessean.com and on Twitter @Erikbacharach.