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Titans free agency: Everything you need to know about Derrick Henry, offseason NFL schedule

The Tennessee Titans have the flexibility, opportunity and needs to be among the most active spenders when the NFL free agency window begins Monday, but this window also might come with the departure of some of the team's most prominent stars.

The NFL's league year begins at 3 p.m. CT on Wednesday, meaning the Titans and every other franchise can begin signing free agents to contracts for 2024 and beyond. That said, clubs can begin negotiating contracts with soon-to-be free agents at 11 a.m. CT Monday, giving teams a roughly two-day window to talk with agents about their clients.

Pro Bowl running back Derrick Henry is the Titans' most notable free agent. After eight seasons, he is free to test the open market for the first time. But it's not just Henry. Thirteen Titans who regularly started in 2023 are about to become free agents, meaning there will be plenty of holes to fill.

Luckily for the Titans, they also have an estimated $80.7 million in salary cap space available, per Spotrac, the second-most in the NFL. That should allow the team to court some of the biggest-named free agents to fill needs at positions ranging from offensive line and wide receiver to linebacker and cornerback.

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Here's everything you need to know about the Titans heading into NFL free agency.

What are the Tennessee Titans' free agency needs?

The Titans' primary needs are at offensive tackle, center, wide receiver, cornerback and inside linebacker. The team also needs to add depth at running back, defensive tackle and outside linebacker while also finding a backup quarterback.

Some of these needs also can be addressed in the NFL draft in April. The Titans hold the No. 7 pick in the first round and eight picks overall.

Who are the Tennessee Titans free agents?

Henry's cloud will hover over all Titans free agent proceedings. But the team also has to make decisions about whether they'll bring back players like defensive lineman Denico Autry, linebackers Azeez Al-Shaair and Jack Gibbens, cornerbacks Sean Murphy-Bunting and Kristian Fulton, offensive linemen Chris Hubbard and Aaron Brewer, and receivers Chris Moore and Nick Westbrook-Ikhine.

Veteran quarterback Ryan Tannehill also is set to hit free agency after five seasons and 63 starts with the team.

Can the Titans still re-sign Derrick Henry?

Yes. Just because a player enters free agency doesn't mean his previous team has to stop negotiating to bring him back. Henry and all the Titans' pending free agents can return. It's just a matter of if the team wants to bring them back and if the players want to re-sign in Nashville.

Spotrac projects that Henry will command a contract worth roughly $10 million per year, a slight decrease from the $12.5 million he was owed for 2023. The 30-year-old running back was the NFL's second-leading rusher last season with 1,167 yards and 12 touchdowns, but his 4.2 yards per carry represented a career low.

New Titans coach Brian Callahan has expressed interest in bringing Henry back and finding a place for the back in his scheme, but Callahan's experience helming pass-first offenses may not match with Henry's downhill style.

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Who are the top free agent wide receivers?

Jacksonville's Calvin Ridley, Buffalo's Gabe Davis, Arizona's Marquise Brown, Chicago's Darnell Mooney, Cincinnati's Tyler Boyd, Minnesota's K.J. Osborn and Washington's Curtis Samuel make up the top tier of available receivers. Boyd played five seasons in Callahan's offense in Cincinnati, giving the Titans some familiarity there.

Other big names on the market include veterans Odell Beckham Jr. and Randall Cobb, as well as younger players looking for a fresh start such as Chase Claypool, Donovan Peoples-Jones and Laviska Shenault.

Who are the top free agent offensive linemen?

Dallas' Tyron Smith, New England's Mike Onwenu and Trent Brown, Cincinnati's Jonah Williams and Las Vegas' Jermaine Eluemunor are the top tackles on the market, though Smith (33) and Brown (30) are on the older side and have been plagued by injuries in recent years.

The market is a little stronger on the interior, where guards like Miami's Robert Hunt, Baltimore's John Simpson and Kevin Zeitler and the Rams' Kevin Dotson, and centers like Denver's Lloyd Cushenberry, Las Vegas' Andre James, Miami's Connor Williams and Dallas' Tyler Biadasz are available.

Who are the top free agent cornerbacks?

The top of the cornerback market is headlined by Washington's Kendall Fuller, Dallas' Stephon Gilmore, Indianapolis' Kenny Moore and Cincinnati's Chidobe Awuzie, with veterans like Steven Nelson, Ahkello Witherspoon and former Titans first-round pick Adoree Jackson providing depth in the group.

How much salary cap space do the Titans have?

Only the Washington Commanders are estimated to have more salary cap money available, per Spotrac, than the Titans' $80.7 million. That money can't all be spent on free agents, of course. They need to save enough money to be able to sign draft picks and be competitive in free agent discussions in the summer and during the regular season.

The Titans also will have the freedom to add cap space through the offseason, whether by waiving players with high cap hits or by restructuring veteran contracts of high expense.

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Can the Titans still use the franchise tag?

No. The deadline to use franchise or transition tags for players to retain them this offseason was March 5.

Do the Titans have any restricted free agents?

Running back Julius Chestnut and Gibbens, the linebacker, are exclusive rights free agents, meaning if the team extends them a qualifying offer, it can retain them with no competition.

Nick Suss is the Titans beat writer for The Tennessean. Contact Nick at nsuss@gannett.com. Follow Nick on X, the platform formerly called Twitter, @nicksuss.

This article originally appeared on Nashville Tennessean: Derrick Henry, salary cap and info about Tennessee Titans, free agency