Tannehill's agency, SportsTrust Advisors, announced the move on Twitter.
According to Ian Rapoport of NFL Media, the deal involves the Dolphins getting a fourth-round pick back in 2020 as well as a 2019 seventh-round pick, while the Titans receive Tannehill and a sixth-round pick in 2019. Per Rapoport, the deal is a one-year contract worth $7 million guaranteed with a chance to move up to $12 million based on playing time incentives.
Adam Schefter of ESPN reports that Tannehill has restructured his contract in order to help the deal go through.
Tannehill, in all likelihood, was going to be released by the Dolphins this offseason, pending what they could figure out in the quarterback market. Miami believed it was going to be a player in the Tyrod Taylor sweepstakes, with the Chargers. Miami then got involved with Teddy Bridgewater, but the former first-round pick ultimately on a similar deal to what Tannehill is receiving in Tennessee.
Now we're left to wonder exactly what their plan is at the position. Miami's current depth chart is Jake Rudock and Luke Falk. That is, in case you're new here, not ideal. The Dolphins haven't really been linked to many quarterbacks in the upcoming 2019 NFL Draft, but that's largely a result of where they're picking. The belief is Miami might be willing to eschew taking a quarterback in the first round this year in order to set itself up to take one in next year's draft.
It's going to be difficult for them to find a starting quarterback who can really help them compete in what is becoming an increasingly difficult division. Maybe they're fine with that?
The Dolphins also free up a whopping $33 million in cap space over the next two years with this Tannehill trade, while picking up a positive asset (a fourth-round pick next year) in the process. It's a very nice haul considering the position they were in with Tannehill when they woke up this morning.
For the Titans, this is a high-end move but a smart one. Paying big-time money for a backup quarterback has proven to be a viable approach (see: the Eagles and Nick Foles) and it makes all the sense in the world for the Titans, a team with Marcus Mariota currently positioned as its starter.
Mariota, the former second-overall pick in the 2015 NFL Draft, hasn't necessarily proven himself as a guy worthy of a monster contract. He's also battled injuries for almost all of his career, and the Titans have struggled when Mariota has missed time. You could argue that he and Tannehill are incredibly similar -- both are athletic, accurate quarterbacks and their playing style feels similar.
So from that perspective, it's quite logical to make the move for Tannehill, especially when it doesn't cost them anything more than a fourth-round pick down the road. The Titans are trying to compete this year and they don't know if they can trust their starting quarterback enough to stay healthy, much less extend him over a lengthy period of time. Now the Titans have multiple options, both for the short- and long-term.