Adam Schefter tweeted the following on Wednesday afternoon: "Titans and RB Derrick Henry now working to finalize a deal before today’s 4 pm ET deadline, per sources. Deal on way to being done."

The parties have until 4 PM EST to reach an agreement or Henry will play out this season on the franchise tag. Henry led the league in rushing last year, totaling 1,540 yards on 303 carries to go along with 16 touchdowns and is poised to return as the feature back for the Titans in 2020. This report suggests he and Tennessee are working toward a last-minute extension to keep him with the Titans long-term. A long-term extension would only solidify Henry's status as a workhorse back and surefire RB1 in fantasy.

Titans and Derrick Henry are not expected to reach a long-term deal by Wednesday deadline for franchise players, per source.

Henry already singed his tender and is scheduled to make $10.27 million this season. He would become a free agent in the offseason, Schefter went on to say.

Titans placed franchise tag on RB Derrick Henry, per source.

This was the next domino to fall after Tennessee re-signed Ryan Tannehill. Derrick Henry is coming off a career year of 1,746 combined yards and 18 touchdowns. The 26-year old is currently being drafted as RB6 in the first round in early best-ball drafts and with Dion Lewis out of the way, he could possibly not get game-scripted off the field in 2020.

Titans did something very smart, resting RB Derrick Henry (hamstring) for a game that didn't mean anything and on Sunday, he'll be as healthy as he's been in a long time.

That may be hard to explain to fantasy owners who could have used Henry in Week 16's finals. But it looks like Henry will be good to go for Week 17. If the Titans win they will get into the playoffs.

Titans RB Derrick Henry (hamstring) has been downgraded to questionable for Sunday’s game against the Saints.

This is very interesting as Henry did not have an injury designation for this game, so there has to be some sort of concern. The Titans also promoted Dalyn Dawkins from their practice squad, so there’s now a legitimate chance Henry does not play. Have a backup plan ready just in case.