A top priority for the Miami Dolphins this offseason, before they can handle much of their business, will be to dig themselves out of the salary cap hole they’re in.
The Dolphins are currently projected to be about $51.9 million over the salary cap. That is second-lowest cap space in the NFL to the New Orleans Saints, who are $83.7 million over.
Of course, there are things the Dolphins can do to clear up the necessary space to operate. They’ve kicked the proverbial can down the road before, and with the Dolphins in win-now mode and a window that likely lasts this season and maybe next before it all catches up to them, they’re surely going to exhaust every possible option this offseason to build the most competitive team.
General manager Chris Grier didn’t seem too concerned about the cap situation when he spoke to reporters at his end-of-season news conference.
“At the end of the day, we have good players here,” Grier said. “Everyone will have a market. We’re not really, right now, concerned about where we’ll be in March, salary cap-wise.”
He noted communication with senior vice president of football and business administration Brandon Shore and director of football administration and strategy Max Napolitano to assure the team has the necessary flexibility to get back into the green in cap space without compromising the talent already on the roster while allowing the organization to bring back its own impending free agents and possibly add outside talent.
“We’ve had a lot of conversations,” Grier said. “They’ve given us a lot of flexibility with multiple options of ways we can be creative. Hats off to them just through their work and grind on things. (Coach) Mike (McDaniel), Brandon and I will have a lot of discussions. We’ll talk with (owner) Steve (Ross) as we get through here, and we’ll try and keep as many of the players here that we can.”
So how do the Dolphins get to generating cap space?
For one, they can cut certain players currently under contract, but only if stipulations in the deal allow the team to save cap space without an overarching dead cap burden. If a team ever releases a key player for cap savings, though, keep in mind that team must also then replace said player.
The Dolphins can also extend contracts of players they want to keep long term, shrinking the present-day weight by pushing big money back later in a deal. Conversely, they can also try to get an overpaid player to renegotiate his deal if they also are in position to save with an outright cut.
Another maneuver is to restructure large contracts, converting base salary into guaranteed prorated bonuses. The player still gets paid, but the cap burden is spread out over upcoming years, and Ross is willing to play ball, essentially having to dish out more money to field an optimal roster. It’s Miami’s biggest present-day tool at its disposal to back into the positive while, by and large, maintaining the roster.
But first, where can the Dolphins cut? Defensive end Emmanuel Ogbah appears to be the top candidate. Miami stands to save $13.7 million from releasing Ogbah, who has not panned out since signing a four-year, $65 million contract in the 2022 offseason and has had several players leapfrog him for playing time.
The Dolphins can also find other smaller contracts to do the same. Cornerback Keion Crossen didn’t play at all in 2023 with a knee injury, and Miami can save a hair under $3 million by cutting ties with him. Running back Jeff Wilson Jr. also offers a near $2.9 million in savings if Miami moves on to roll with a De’Von Achane-Raheem Mostert combination to lead the backfield, along with maybe another pickup and rising second-year running back Chris Brooks.
That would get the Dolphins to roughly $32.3 million over the cap, and they can get to those contract restructures with the big cap hits of cornerback Jalen Ramsey, edge rusher Bradley Chubb and wide receiver Tyreek Hill. Miami can get about $18.2 million in space from a Ramsey restructure, $14 million with Chubb and about $12.5 million with Hill.
Add all that up, along with the aforementioned moves, and Miami is suddenly at roughly $12.9 million under the cap.
Great. We did it. But simply getting into positive territory isn’t the only thing. The Dolphins need to use that space to fill out the roster by either bringing back their own impending free agents or outside replacements at positions where someone is lost.
Look at some of Miami’s own key free agents: Defensive tackle Christian Wilkins likely commands a contract north of $20 million in average annual value. Right guard Robert Hunt figures to reach double-digit millions per season.
The Dolphins also may need to prioritize edge rusher Andrew Van Ginkel, especially since Chubb (torn ACL) and Jaelan Phillips (torn Achilles) are likely to start the season on the physically-unable-to-perform list. They also have center Connor Williams coming off a torn ACL of his own, and the injury may actually help Miami sign him to a lesser deal if the two sides choose to run it back.
Miami also has safeties DeShon Elliott and Brandon Jones, nose tackle Raekwon Davis and others as free agents, while needing to fill out its wide receiving corps after the tandem of Hill and Jaylen Waddle and possibly add a playmaking tight end.
So, a lot more money needs to be freed up. And, from here on, there’s different routes the organization can go.
Now, cornerback Xavien Howard could save the Dolphins $18.5 million against the cap if he is released with a post-June 1 designation. That’s a lot of flexibility off that move alone, but those funds wouldn’t become available until after the first wave of free agency. They could, however, help Miami sign its draft class over the summer and be used for any late free agent signings or much-needed rollover into 2025.
If Howard is kept around, he can also be restructured — like with Ramsey, Hill and Chubb — for $13 million in savings. That does continue to add to the future burden, however, but it could be a short-term solution to give him and Ramsey a full season together and not require a replacement.
Inside linebacker Jerome Baker is slated to count as nearly $14.8 million against the cap. Miami maybe wouldn’t want to outright release him, although it can save $9.8 million, but remember, the team would also need to then replace him. The threat of a cut could be enough to shake him down to come back for less money if he wants to give it another shot with this roster.
An option with Wilkins is to place him on the franchise tag, keeping him with the Dolphins for one more season, but that’s a hefty $23.3 million for this season after all that work to get back into the positive. If Miami wants to keep him and Zach Sieler together at defensive tackle, giving Wilkins what he wants long term could be the solution, while backloading the deal so it’s not a big immediate cap hit. Wilkins, after all, was the first foundational draft pick of the rebuild, in the first round of the 2019 draft, and has been reliable since. His price tag went up, though, after he bet on himself to add a pass rush to his game this season and tallied nine sacks.
Quarterback Tua Tagovailoa is also set to play on the fifth-year option of his rookie contract, like Wilkins did the past season. Miami can gain immediate relief if they sign him to a long-term contract, but would also be committed to him in years to come.
The Dolphins will only be in a more troublesome cap position for future years, but they’ve already invested this much in winning now. Their best bet is to commit further and worry about future years as they come with more difficult decisions on the horizon.
