Ian Rapoport reports the deal has been finalized. The Falcons will receive a 2022 second-round pick from the Titans, while swapping their sixth in 2023 with Tennessee’s fourth, in exchange for WR Julio Jones.
Russini says the deal is expected to be complete in the next 24-48 hours.
Adam Schefter says the two sides are still negotiating whether the Titans will send a second and fifth-round pick to the Falcons for Jones or if it will be a second and a pick swap involving other selections.
The Falcons were looking for a first-round pick in return for Jones. However, Jones’ age and $15.3 million base salary for 2021 presented a major obstacle for any interested teams to take on.
According to Over The Cap, the Falcons will incur a dead money hit of $7.75 million by trading Jones as well as $15.3 million in cap savings.
Jones, 32, is a former first-round pick of the Falcons back in 2011. He was in the fifth year of his six-year, $81.432 million contract that includes $47 million guaranteed when he agreed to a three-year, $66 million fully guaranteed contract extension in 2019.
In 2020, Jones appeared in nine games for the Falcons and caught 51 passes for 771 yards receiving and three touchdowns.
We’ll have more on Jones as the news is available.