The Tennessee Titans don't appear to be getting into a bidding war for Tom Brady. As Brady is set to hit free agency this week, the Titans are working on re-signing Ryan Tannehill (per ESPN's Dianna Russini). Per ESPN's Adam Schefter, the Titans are on the verge of a new multi-year extension with Tannehill.
With the salary cap officially set at $198.2 million, the Titans have around $66 million in available cap space (per Over The Cap). Spotrac has Tannehill's estimated contract at four years, $122 million with an average annual salary of $30.5 million, which would make him the sixth-highest paid quarterback in the NFL.
Working out a deal for Tannehill would be paramount for Tennessee, especially since the Titans have not designated the franchise tag on any player (they have until Monday at 11:59 a.m. ET to do so). While the Titans could tag Henry in order to get a deal done (and give them more time to sign him),he will do "everything he can to keep Henry around."
The Titans are unable to place the franchise and transition tag since the new, meaning they can only use the franchise tag on one of the two players.
Tannehill is coming off a career resurgence with the Titans. When he replaced Marcus Mariota, Tennessee became one of the hottest teams in the AFC, and Tannehill took them to the conference title game. Tannehill completed 70.3% of his passes for 2,742 yards, 22 touchdowns and six interceptions in 10 starts for Tennessee, which went 7-3 in those games. He led the league in yards per attempt (9.6), adjusted yards gained per pass attempt (10.2), yards per completion (13.6) and passer rating (117.5).
With the Titans seemingly out of the running for Brady, the list for the future Hall of Famer diminishes. The Tampa Bay Buccaneers and Los Angeles Chargers are in the market for Brady if he doesn't re-sign with the New England Patriots. Russini reported last week to give Brady "whatever he wants" if the quarterback is willing to sign with them.
Brady, who will be 43 in August, threw for 4,057 yards, 24 touchdowns and eight interceptions last season, but his passer rating (88.0) was in the 80s for the first time since 2013 and his yards per game (253.6) was his lowest since 2010 (243.8).
With the Titans seemingly out of the running for Brady, the chances of him returning to New England look better than ever.