Tennessee Titans Won't Franchise-Tag Longtime Running Back Derrick Henry

The Tennessee Titans would need to pay roughly $12 million to franchise-tag Henry for one season. But Spotrac, the online team and player contract resource, says that Henry's free-agent contract value would be $10 million per year for two years.

INDIANAPOLIS — Pro Bowl running back Derrick Henry is another step closer to leaving the Tennessee Titans. 

AllTitans.com confirmed multiple reports that the team will not use the franchise tag on Henry. ESPN.com's Adam Schefter reported the news first. 

The Titans would need to pay roughly $12 million to franchise-tag Henry for one season. Spotrac, the online team and player contract resource, says that Henry's free-agent contract value would be $10 million per year for two years. Even though the Titans have more than $70 million in salary cap space, tagging the 30-year-old running back would not be prudent.

Henry rushed for 1,167 yards and 12 touchdowns and caught 28 passes for 214 yards last season and made his fourth Pro Bowl. He averaged 3.3 yards after contact and was graded at 90.2 by Pro Football Focus. Both numbers were second in the NFL to Christian McCaffrey. 

New coach Brian Callahan said he's open to Henry coming back.

"A player like Derrick Henry fits in every offense," Callahan said. "He's been a remarkable player. He's been the face of the franchise here for a long time. When you think of the Tennessee Titans, you think of Derrick Henry. ... If he's open to a return, that fits for us. I'm never going to say no to good players."

But Henry has stated a desire to win a Super Bowl, which could mean his timetable for winning might not align with the Titans' rebuilding process. However, Henry also said he would be open to finishing his career with the team.

"Any player would want to play for the organization they started with their whole career. I think that's a very unique and special situation for that to be able happen," said Henry, who needs 508 yards to pass Eddie George as the Titans' career rushing leader. "The whole coaching change, I don't know all the details or what they're thinking, or the plan for the team, or how they want to move forward as an organization. So we'll have to see what happens, and I'll leave it up to God." 

Henry is one of several big-name running backs on the verge of free agency along with Saquon Barkley, Josh Jacobs, Tony Pollard, and Austin Ekeler.

Related Titans Stories 

• TUESDAY AT THE COMBINE: Tennessee Titans general manager Ran Carthon and coach Brian Callahan are scheduled to speak and take questions at 9:15 and 9:45 a.m. CT, respectively. Follow AllTitans.com for NFL Scouting Combine updates throughout the day. CLICK HERE
• HOW TO FOLLOW THE COMBINE: The NFL Scouting Combine gets underway at Lucas Oil Stadium in Indianapolis this week. Here's the complete guide to the schedule of events, as well as specific coverage pertaining to the Tennessee Titans. CLICK HERE
• PANNING FOR DRAFT GOLD: The Tennessee Titans and their 31 NFL brethren are in Indianapolis this week for the annual Scouting Combine. Rigorous physical examinations and a battery of interviews, executed outside of public view, are typically more important than a tenth of a second in the 40-yard dash or a ho-hum bench press. CLICK HERE
• TITANS' TOP PRIORITIES: The Tennessee Titans have to address a number of position groups this offseason. General manager Ran Carthon and coach Brian Callahan likely will have their eyes on offensive tackles, wide receivers, and defensive backs this week at the NFL Scouting Combine. CLICK HERE