Quarterback Ryan Tannehill (17) agrees to stay with the Titans. Denny Medley-USA TODAY Sports

The Tennessee Titans have officially removed themselves from the Tom Brady sweepstakes.

Numerous recent reports have indicated that the Titans were making a Ryan Tannehill extension their top priority this offseason, and Ian Rapoport of NFL Media was the first to report on Sunday that Tennessee has signed Tannehill to a long-term deal. ESPN’s Jeff Darlington reports that the contract is worth $118 million with $62 million guaranteed.

The Titans will now likely use the franchise tag on star running back Derrick Henry, who is also scheduled to become a free agent.

Tannehill had an excellent season after the Titans acquired him in a trade with the Miami Dolphins last year, and his steady play was arguably the biggest factor in the team’s deep postseason run. You could make the argument that Brady would give Tennessee a better chance to win the Super Bowl in 2020, but they obviously believe in Tannehill and are thinking long-term.

The Titans were seen as a natural fit for Brady since they’re a playoff team and are coached by Brady’s former teammate Mike Vrabel, but the market for Brady is now smaller. Perhaps there is something to the talk that Brady’s market may not be as robust as he hoped it would be.

More must-reads:

TODAY'S BEST
Celtics assistant named candidate for Lakers HC job
Rudy Gobert fined $75,000 for gesture in Game 4
Former Canadiens GM on Blue Jackets' radar
Cubs designate lefty reliever for assignment
Two-time Super Bowl champ signs with AFC contender
Stars center matches Gretzky feat as Dallas pushes Avalanche to brink
Gritty young Thunder take down veteran Mavericks in Game 4
Cubs acquiring veteran reliever from Mariners
Top-five NBA Draft prospect suffers scary non-contact injury
Hurricanes stay alive with third-period outburst vs. Rangers
Jaylen Brown's big three-pointer gives Celtics 3-1 lead over Cavs
Avalanche star placed in player assistance program
Mercury announce devastating injury on eve of WNBA season
Randy Moss' son makes major football announcement
Reds place key outfielder on injured list with broken thumb
Tom Brady's broadcasting debut set for Week 1 of NFL season
Struggling Cubs reliever placed on injured list 
Report: Justin Fields had ‘toxic' relationship with ex-Bears QB
Extension makes Lions QB Jared Goff one of NFL's highest-paid players
Kentucky's Reed Sheppard displays excellent skills at NBA Draft Combine