Ryan Tannehill has a new weapon in Julio Jones and the Titans quarterback is now tweaking his contract to help facilitate this blockbuster. According to Ian Rapoport of the NFL Network, Tannehill has restructured his contract to create more than $15 million in cap space that will be used to fit Jones under the threshold. This season, Jones is set to make $15.3 million guaranteed and the Titans will reportedly take on the entire contract.
This was a logical step for Tennessee -- which had around only $2.36 million in space prior to this restructure -- after acquiring Jones in a trade with the Falcons, who are now off the hook for his contract entirely. Any team bringing the star receiver in would need to be able to absorb a lofty cap number as part of the deal and Tannehill's contract made logical sense to tweak.
The quarterback -- who signed a four-year, $118 million deal with the club last offseason -- was set to make a salary of around $24.5 million this coming season, but the club simply has turned a portion of that into a signing bonus to be able to fit Jones in. Per Rapoport, that guaranteed salary has since been converted to a signing bonus and will spread over the next three years.
This move now decreases Tannehill's cap hit heading into this season, but it will increase going forward. According to Spotrac, Tannehill's cap figure for 2021 is projected to be $13.8 million ($68.5 million dead cap) and will bump up to $41.8 million ($54.6 million dead cap) in 2022. The quarterback will have a projected cap hit of $39.8 million in 2023 with a dead cap charge of $12.8 million.