There is a team option in Jake Locker's contract for 2015. If the Titans pick up that option, they will owe Locker $13 million guaranteed. They have to make the decision this May.
The Titans are not giving up on Jake Locker, as well they shouldn't because the jury is still out on him, but there is no way in Hades that they are going to go ahead and guarantee him $13 million for 2015. It just wouldn't make any sense.
If they don't pick up the option, which they won't, the worst case scenario for them, contract-wise, is that Locker tears it up in 2014 and they have to franchise him. That would be a really good problem for them to have.
Knowing Locker's history, he turned down a lot of money to play baseball and stayed at Washington for his senior year when he would have been a top 5 pick, there is little doubt in my mind that they would have no problem working out a reasonable contract with him if he does stay healthy and play well next season.
So really, all of that "breaking Titans news" on Sunday really didn't provide that much new information. There weren't any reports out there about Cutler before, but it makes perfect sense that they would be interested if he does become available. The CJ and Locker stuff was already common knowledge.