© Isaiah J. Downing-USA TODAY SportsMalcolm Butler
The Titans will opt out of the final two years of Malcolm Butler's contract. They are releasing the veteran cornerback, Ian Rapoport of NFL.com tweets.
Cutting Butler will save the Titans $10.2M. Ahead of this transaction, Tennessee held barely $1M in cap space. The former Super Bowl hero spent three seasons with the Titans, signing a lucrative contract in 2018.
Tennessee added Butler on a five-year, $61.25M deal in 2018. Although Butler turned 31 last week, the former undrafted free agent will again generate interest as a free agent. He finished last season as Pro Football Focus' No. 15 overall corner, bouncing back from an injury-shortened 2019 slate. Butler intercepted four passes in 2020 and finished with the lowest yards-per-completion and yards-per-target figures of his Tennessee run.
This will create a need for the defending AFC South champions, who let Logan Ryan walk in free agency last year. They have Adoree' Jackson going into a non-guaranteed $10.2M fifth-year option season. After Jackson played in just three games last season, he could well be on track to join Butler in free agency soon.
The Titans also have two offensive free agents who should expected to be coveted next week. Funds from the Butler release could go to retaining either Jonnu Smith or Corey Davis. The Titans did not opt to use their franchise tag this year.
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