Revisiting the Dolphins' Top 10 Cap Hits Pre-March 13

The Dolphins have been busy restructuring contracts this month

Author:
Alain Poupart
Publish date:
Mar 19, 2024 11:00 AM EDT

In this story:

The Miami Dolphins have been busy this month, not only with their many player transactions but as much with contract restructures designed to give the additional cap space for 2024.

As we chronicled on the last day of February, the Dolphins had six players with a 2024 cap hit exceeding $20 million at that time plus two more at $10 million-plus.

Less than three weeks later, those numbers are now three at $20 million-plus and two more at $10 million-plus, though each number will decrease by one once Xavien Howard's contract comes off the books June 1.

THE DOLPHINS' TOP 10 CAP HITS PRE-MATCH AND WHERE THEY STAND DOWN

We figured we'd update the top 10 cap numbers from Feb. 29 to see where they stand now

1. WR Tyreek Hill — Then, $31.3 million; Now, Same

Hill seemed a logical candidate for a contract restructuring after he signed a four-year extension after his trade from Kansas City, but nothing has happened yet.

2. CB Jalen Ramsey — Then, $27.3 million; Now, $8 million

Ramsey now ranks seventh in Dolphins cap hits, including Howard.

3. OLB Bradley Chubb — Then $26.9 million; Now, $15.9 million

Chubb dropped down one spot to fourth (third if we exclude Howard's soon-to-expire contract.

*. CB Xavien Howard, $25.9 million

The Dolphins did just as expected when they released him March 13 with a post-June 1 designation. It should be noted that Howard still will count $7.4 million against the 2024 cap after that date.

4. QB Tua Tagovailoa — Then, $23.2 million; Now, Same

Tagovailoa is locked in at that cap number unless the Dolphins sign him to an extension that would lower his 2024 cap hit (likely) or eliminate the cap hit by trading him (not happening).

5. T Terron Armstead — Then, $20.2 million; Now, $10.6 million

After throwing out the idea of a potential retirement, Armstead agreed to restructure his deal to return. He actually moved up one spot on this list because his new deal didn't free up as much cap space as that of Ramsey.

6. LB Jerome Baker — Then, $14.8 million; Now, $5 million

Yes, Baker still counts some money against the 2024 cap, but it's almost $10 million less after he was released (and subsequently signed with the Seattle Seahawks).

7. DT Zach Sieler — Then, $10.7 million; Now, $6.3 million

Even with Baker's departure, Sieler dropped two spots to ninth.

8. WR Jaylen Waddle — Then, $8.6 million; Now, Same

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. — Then, $6.7 million; Now, Same

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 — Then, $5.2 million; Now, Same

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?