The Tennessee Titans and running back Derrick Henry aren't expected to reach a long-term agreement by Wednesday's franchise tag deadline, a source told ESPN's Adam Schefter.
Henry signed his $10.2-million tag in April but hoped to finalize a multi-year contract extension before July 15. He'll now play under the one-year tender and hit free agency again in 2021.
The Titans placed the non-exclusive tag on the running back in March, one day after re-signing quarterback Ryan Tannehill to a four-year, $118-million deal.
Under the tender, Henry will be the league's fifth-highest-paid running back in 2020, behind Christian McCaffrey, Ezekiel Elliott, Le'Veon Bell, and David Johnson.
The 26-year-old played a vital role in Tennessee's run to the AFC Championship Game a season ago. He led the NFL with 1,540 rushing yards and 16 rushing touchdowns, adding another 446 yards and two touchdowns in three playoff contests.
Henry was the Titans' second-round choice in the 2016 draft and has improved his rushing and scoring output each year since entering the league.