Woods agreed Tuesday to restructure his contract with the Titans by converting $2.6M of his base salary into a signing bonus, Field Yates of ESPN reports.
Tennessee gets more room to maneuver in-season due to the transaction. Woods' contract carries a 'dead cap' number of just over $2 million for the 2023 season, per Spotrac.com. Now one year removed from his ACL injury, he has 32 catches for 351 yards and one touchdown on 56 targets across his first 11 games with Tennessee. The veteran wideout has mostly worked as a short-area target through the early stages of his Titans tenure, and further contract talks could have to be carried out this offseason if he is to remain with the team.