Tennessee has just $3 million and change in available cap space right now, so they obviously have to move some things around to be able to fit Jones under the salary cap.
The Titans could restructure Jones’ salary, converting most of his base salary into a signing bonus and spreading it over the remainder of his contract. That would lower his 2021 cap number significantly since all of his dead money from signing bonus proration stayed with the Falcons.
Tennessee also has a number of other contracts they can restructure to fit Jones, including QB Ryan Tannehill.
Jones has three years and about $38 million remaining on his deal, so it’s also possible he seeks a slight raise given that $13 million APY would make him a little underpaid compared to other top wideouts.
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.
The Falcons traded Jones to the Titans with three years remaining on that deal. He’s set to make a base salary of $15.3 million in 2021.
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.