The first order of business for the Tennessee Titans this offseason should be retaining outside linebacker Harold Landry. The former second-round pick and Boston College product amassed career-highs in sacks (12.0), tackles (75), tackles for loss (14), and QB hits (22) this season.
Safety Kevin Byard has already gone on record saying that he’s willing to restructure his contract again if the Titans need more money to bring Landry back. Byard previously restructured his contract in September 2020, freeing up more than $6 million in cap space.
Back in December, an article by The Athletic’s Dan Pompei revealed that the two sides have indeed had talks about an extension, and in the same article Landry made it clear he wants to stay in Nashville.
“I think everyone in the locker room knows I love playing for this organization, and my family absolutely loves living in Tennessee,” Landry said. “I’m trying to prove every day I deserve to be here.”
Another option for retaining Landry is through the franchise tag. In that case, the Titans would owe him $18.5 million, the projected franchise tag value for linebackers, per Spotrac.
Spotrac also projected Landry’s next contract to be in the neighborhood of a four-year deal worth $17.1 million annually, a total that would vault him into the top 10 of edge rusher contracts.
The Titans could be in a wait-and-see mode, hoping that Landry’s career year wasn’t a fluke. Under that umbrella, the franchise tag would be a viable option.
If Landry puts together another resume-building campaign while under the franchise tag in 2022, it would give the Titans more confidence in signing him to a long-term deal.
However, the financials in 2022 would be a bit tighter in that scenario, with the franchise tag value being $1.4 million more than Landry’s projected contract extension value.
But it would ensure his return for another year without committing a long-term contract to him just yet, especially to a player that registered just 5.5 sacks the year prior.
Tennessee actually has the option of using one of three types of tags on Landry: the exclusive franchise tag, the non-exclusive franchise tag, or the transition tag.
The Titans last used the non-exclusive franchise tag on running back Derrick Henry in March 2020 before signing him to a four-year contract extension later that year in July.
Under the exclusive franchise tag, Landry cannot negotiate with other teams and is locked in for one more season, although the two sides can still work out an extension.
The non-exclusive franchise tag and the transition tag are similar in that they allow players to negotiate with other teams, but allow the team who tagged the player the right to match any offer.
The major difference between the two is that the non-exclusive franchise tag opens the door for the team to receive compensation in the form of two first-round picks if they decide not to match an offer the player receives, whereas the transition tag doesn’t. The latter also comes in around $2 to $3 million cheaper.
As the months unfold and players are inevitably cut, the franchise tag could be a temporary solution to buy the Titans more time for Landry’s contract extension.
Teams can begin using one of the tags at their disposal on Feb. 22, with the deadline to do so falling on March 8.
