Dolphins Get Good Cap News, But Work Remains
The Miami Dolphins still are going to have a lot of work to do to get reshape their roster this offseason with their salary-cap constraints, but they did get some good news in that department Monday.
NFL teams were informed Monday, per multiple reports, that the salary cap for 2023 will be set at $224.8 million per team. The figure will set a new cap record, topping the previous mark of $208.2 million in 2022.
The higher salary cap, of course, coincides with increased revenue generated by the NFL, including the 17th regular season game.
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DOLPHINS HAVE WORK TO DO
A couple of weeks after their playoff loss against the Buffalo Bills, the Dolphins have 44 players under contract for 2023 with a combined cap number of more than $240 million, according to Over The Cap.
This means the Dolphins already are over the cap, though they don't have to be in compliance until the start of the league year, which in 2023 will be March 15.
By 4 p.m. ET that day, every NFL team will need to be at or under the 2023 cap with the Top 51 rule, which will be in effect until the start of the regular season.
Under that rule, only the top 51 players (by cap numbers) are calculated for salary-cap compliance purposes.
As of Monday, the Dolphins currently have five players with a 2023 cap number exceeding $15 million, per overthecap.com: WR Tyreek Hill at $31.5 million, OLB Bradley Chubb at $22.2 million, T Terron Armstead at $21.1 million, CB Byron Jones at $18.4 million and DE Emmanuel Ogbah at $17.2 million.
The Dolphins' current salary-cap picture does not includes the 30 players scheduled to become free agents March 15, including restricted free agents Salvon Ahmed and John Lovett, and exclusive-rights free agent Elijah Campbell.
To become cap-compliant, the Dolphins obviously are going to have to make several moves, whether they be releasing some veterans, restructuring contracts and signing others to extensions to reduce their 2023 cap number.
The one issue with restructuring contracts if that it simply moves the cap obligations further down the road.
Among the players who could end up being cap casualties are tight end Cethan Carter, whose release would save $2.3 million against the cap; and cornerback Keion Crossen ($3.2 million).
Defensive tackle Christian Wilkins is scheduled to make $10.7 million on the fifth-year option of his rookie contract, and an extension could lower his 2023 cap number. There could be others in line for an extension, with the dual purpose of keeping the player and lowering his 2023 cap number, like perhaps fullback Alec Ingold and defensive lineman Zach Sieler.
Cornerback Byron Jones very well might be released to create cap space, but that move would clear only $3.5 million if done before June 1 as opposed to $13.6 million with a post-June 1 designation, though the cap savings with the latter wouldn't apply until that date.
DOLPHINS NOT ALONE OVER THE CAP
Even with the increased cap for 2023, half the league currently is over the cap some six weeks before the start of the new league year.
New Orleans leads the way at $61.7 million over in effective cap space, which includes the top 51 and the amount projected to sign a team's draft class.
The other team badly over the cap right now is Tampa Bay at $58.3 million.
Of the 16 teams currently over in effective cap space, though, no teams has as few players under contract for 2023 as the Dolphins' total of 44. The next two are the Saints and Dallas Cowboys with 49.
So, as stated before, the Dolphins have a lot of cap work to do.
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