The Miami Dolphins have traded quarterback Ryan Tannehill to the Tennessee Titans, according to ESPN’s Adam Schefter. The Dolphins were expected to move on from Tannehill this offseason, with a release the most likely outcome for the team. However, they were holding him trying to find a trade partner in order to see some return for their 2012 first-round pick. It appears they were able to get something back for Tannehill.

Dolphins traded QB Ryan Tannehill to the Titans. — Adam Schefter (@AdamSchefter) March 15, 2019

In seven seasons with Miami, Tannehill threw for 20,434 yards with 123 touchdowns and 75 interceptions. He has a career 62.8 percent completion rate. Tannehill missed the entire 2017 season after a knee injury at the end of 2016 forced him to miss the final three regular season games of that year, then the team’s only playoff appearance since Tannehill joined the team. He returned for 2018, but a shoulder injury would sideline him again, leading to just 11 games played, throwing for 1,979 yards with 17 touchdowns and nine interceptions and a 64.2 percent completion rate

The Dolphins will receive a 2019 seventh-round pick and a 2020 fourth-round pick from the Titans in exchange for Tannehill and a sixth-round pick in 2019. Tannehill restructured his contract with the Titans, signing a one-year, $7 million deal that can exceed $12 million with playing time and incentives, according to Schefter.

“We would like to thank Ryan for his commitment to the Miami Dolphins over the last seven seasons,” said Dolphins General Manager Chris Grier. “Ryan is a tireless worker who always put the team first. We wish him the best with the next step of his career.”

The trade reunites Tannehill with defensive end Cameron Wake, who signed with the Titans as a free agent this offseason. Tannehill likely enters the season as the backup to Marcus Mariota, but with the injury history of Mariota, Tannehill could see playing time sometime this year, and he could have an outside shot of outplaying Mariota in training camp.

With the trade, the Dolphins move $13.4 million into dead money, accounting for signing bonus money already paid to Tannehill but not yet accounted for in the salary cap, while freeing $13.2 million in cap space. UPDATE: Schefter has added Miami agreed to pay $5 million of the guaranteed $7 million from the Titans as a signing bonus. This will impact the dead money number for Miami, but it is unclear how it is structured, so Miami may not have the full $13.2 million in space coming from this move. The likely result is the $5 million is added straight-up into the dead money this year so the Dolphins do not add anything into next year. This would mean the team will see an $18.4 million dead money hit, with $8.2 million in cap space being freed. That would still allow for the entire $25.1 million savings in 2020 now that the Dolphins do not have Tannehill’s contract on their books. The Dolphins agreed to the added dead money in order to increase the value of the 2020 draft pick the Titans were willing to trade.

More to follow.

For the Tennessee side of the trade reaction, check out SB Nation’s Titans site, Music City Miracles.