The Tennessee Titans have placed the franchise tag on running back Derrick Henry, just hours before free agency was scheduled to open on Monday.
Henry would make just around $10.2 million under the franchise tag tender, and once he signs it, it would become fully guaranteed.
The Titans and Henry, who is represented by agent Jimmy Sexton, can continue to negotiate on a long-term deal that could replace the franchise tag between now and July 15.
By tagging Henry, the Titans effectively retain two of their most important offensive skill position players. Tennessee signed quarterback Ryan Tannehill to a four-year contract extension on Sunday, worth $118 million.
Henry led the NFL in rushing last season, running for 1,540 yards and 16 touchdowns in helping the Titans obtain a wild-card playoff berth. Henry then had two 100-yard-plus rushing games in the postseason as the Titans recorded road victories over the New England Patriots and Baltimore Ravens before losing in the AFC Championship Game at Kansas City.