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Report: Titans, Ryan Tannehill reach agreement on multi-year extension

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The Titans are looking to take care of business on quarterback Ryan Tannehill.

Ryan Tannehill of the Tennessee Titans drops back to pass in the second quarter under pressure from Chris Jones of the Kansas City Chiefs in the AFC Championship game at Arrowhead Stadium on January 19, 2020 in Kansas City, Missouri. Photo by David Eulitt/Getty Images

UPDATE Mar 15 2:30 p.m.: ESPN’s Jeff Darlington is reporting the deal is for four years, $118 million with $62 million fully guaranteed.

UPDATE: Ian Rapoport is reporting a deal is done.

The Tennessee Titans are in the process of taking care of some important business as free agency looms. The team is on the verge of agreeing to terms with quarterback Ryan Tannehill on a multi-year extension, per ESPN’s Dianna Russini and Adam Schefter.

The team has until 11:59 a.m. ET on Monday to use their franchise tag, and if they can get a deal done with Tannehill before then, it would leave the tag available for Derrick Henry if the team cannot get a deal done with their stud running back before the start of the free agency negotiating period.

The language Schefter used in his tweet is worth noting. He reported the two sides are “on the verge of a new multi-year extension.” Tannehill had a great half a season, but he struggled a bit in the playoffs and given his history, it’s unlikely the team would over-commit at this point. It would not be surprising if this was no more than a three-year extension that offers some up-front money, but does not lock Tannehill and the Titans together at the hip for too long.