The 10 Biggest Dolphins Cap Hits for 2024
The Miami Dolphins began addressing their precarious salary-cap situation last week when they made two significant moves involving cornerback Xavien Howard and defensive end Emmanuel Ogbah.
The Dolphins immediately gained more than $14 million of cap space by releasing Ogbah, while they cleared almost $19 million with the still-unofficial post-June 1 release of Howard, although they won't get that cap space credit until that date.
They now stand at about $37 million over the cap limit when factoring the top 51 rule and the need to sign their draft class, per overthecap.com.
Here's the updated list of the top 10 cap hits on the Dolphins roster. We put an asterisk next to Howard because his cap number is still on the books, though it'll disappear in June.
THE DOLPHINS' TOP 10 CAP HITS FOR 2024
As a reminder, defensive tackle Christian Wilkins currently isn't on that list, but he will be if the Dolphins place the franchise tag on him because that will carry a financial commitment (cap number) of a little more than $22 million.
Until then, here's the top 10:
1. WR Tyreek Hill, $31.3 million
Hill is a logical candidate for a contract restructuring after he signed a four-year extension after his trade from Kansas City.
2. CB Jalen Ramsey, $27.3 million
Ramsey has $25.5 million in guaranteed money in 2024, but none after that season. He's another candidate for a contract restructure unless the Dolphins envision moving on from him after next season.
3. OLB Bradley Chubb, $26.9 million
Like Hill, Chubb signed a long-term extension (in his case, five years) after his trade to the Dolphins. He also is a candidate for a contract restructure.
*. CB Xavien Howard, $25.9 million
4. QB Tua Tagovailoa, $23.2 million
5. T Terron Armstead, $20.2 million
The biggest question at the moment is whether Armstead wants to continue playing, though his contract is worth examing. He's already guaranteed to get $5 million of his $13.2 million scheduled base salary for 2024 and the rest will become guaranteed on March 15. The Dolphins could save $8.8 million of cap space if they decided to move on from him as a second post-June 1 cut (teams are allowed two per year). A restructure isn't as simple with Armstead because pushing money down the line for a 33-year-old player with his injury history might not be advisable.
6. LB Jerome Baker, $14.8 million
This one is complicated because Baker has been a solid player for the Dolphins since arriving as a third-round pick in the 2018 NFL draft, but the team has its serious cap issues and Baker's cap number might be a tad high for its taste. The Dolphins can save $9.8 million by releasing Baker, but then would need to find another starting inside linebacker. This is going to be a delicate one, but it wouldn't be shocking to see the Dolphins approach Baker about taking a pay cut to bring down his cap number or restructure his deal.
7. DT Zach Sieler, $10.7 million
Sieler's three-year extension already looks like a steal for the Dolphins after the tremendous season he put together after signing his new deal last summer.
8. WR Jaylen Waddle, $8.6 million
Waddle is heading into the final year of his rookie contract as a first-round pick in 2021 and one would think it's a slam dunk the Dolphins will exercise his fifth-year option before the May 2 deadline. The possibility does exist the Dolphins could sign him to an extension in the offseason that would lower his cap number for 2024, though the Dolphins are going to have to be conscious about how much money they're paying their starting wide receivers down the line.
9. LB David Long Jr., $6.7 million
Long is the second year of the two-year contract he signed last offseason and his $4.5 million base salary is not guaranteed for 2024. He would appear to be a candidate for an extension or a restructure to bring down his cap number, if ever so slightly, more than a cap casualty based on the way he played last season.
10. QB Mike White, $5.2 million
As with Long, none of White's base salary ($3.5 million) for 2024 is guaranteed, so the Dolphins could save that amount in cap space by releasing him. But then the Dolphins would have to feel comfortable with Skylar Thompson being their No. 2 quarterback or find somebody else, and then how much less expensive would that second option become?
