Jarvis Landry is officially under contract with the Miami Dolphins.
Landry signed his one-year, $16 million franchise tender Thursday morning, two and a half weeks after the Dolphins tagged him.
What does this mean?
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He is now eligible to be traded, which seems to be the inevitable outcome.
The organization and his agent have been working the phones the past week to find a trade partner. The Browns and Ravens are among the teams interested, but a deal is not imminent, the Miami Herald has learned.
Landry wants a contract that will pay him in the range of $14 million annually. Any team that agrees to a trade will most certainly need an extension in place before doing so.
The Dolphins made Landry an offer on a long-term deal months back, but it was not enough for him to sign.
That exchange sent the two sides down a road that most believe will end in divorce.
Unless a trade his struck by March 14, Landry’s $16 million commitment will be on Miami’s books at the start of free agency, which could hamper the team’s ability to sign players it has targeted.
The Dolphins are some $20 millions over the cap, but can (and will) shed tens of millions in commitments with a series of player cuts and contract restructuring.
Landry would likely have been the most coveted receiver on the market had he reached free agency. Instead, the Dolphins tagged him in hopes of getting compensation.
The Browns have a reported nine figures in cap space and the greatest stockpile of draft picks in recent memory. Cleveland has the first and fourth picks, three selections in the second round and the first pick of the third round. The Dolphins could try to package Landry and their first-rounder, 11th overall, to move up into the top 5 to take a quarterback.
The Ravens have far less available to spend, but were among the teams who talked to the Dolphins about Landry before the trade deadline, the Baltimore Sun reported.
Whether Landry gets the big payday he wants remains to be seen. At least one team sees his value closer to $10 million annually than $14 million. Landry has expressed frustration with how this process has gone to friends in recent days, the Herald reported Wednesday.
Landry has caught 400 passes n his career, the most by any receiver in his first four seasons.