Miami Dolphins leave themselves with flexibility and enormous cap space in 2022
Not only have the Dolphins augmented a 10-win team, but they have also put themselves in position to carve out $80 million in cap space next spring, potentially more than $100 million.
Whether that will result in another spending spree is a different story entirely.
Why are we bringing this up now, five days before the start of the 2021 season? Because the organization deserves credit for giving itself future flexibility while continuing to collect additional draft assets.
The Dolphins suffered from acute buyer’s remorse after their 2020 free agent foray. Within 13 months, they parted with three of their four priciest additions in 2020 free agency: Kyle Van Noy, Shaq Lawson and Ereck Flowers, creating $14.9 million in dead money this season.
That 2020 spending spree seemingly has impacted the way that the Dolphins are now doing business. It’s not a coincidence that the Dolphins didn’t give a multiyear deal to any 2021 free agent pickup except Adam Butler and Cethan Carter.
And not only are the 2022 salaries modest for Butler ($3.4 million) and Carter ($2.3 million), but neither is guaranteed for 2022, and neither would carry a dead money cap hit if they’re cut after this season.
So the Dolphins have protected themselves to the point that not a single veteran added during the past seven months will be owed a dime — or have any dead money charge — after the 2021 season if the Dolphins decide to move on from all of them.
It’s uncertain what the 2022 cap will be. The league announced it can be as high as $208 million.
If it is $208 million, the Dolphins will have about $80 million in 2022 cap space, according to websites overthecap.com and spotrac.com. That’s fourth most, behind only Denver and Pittsburgh ($83 million each in space) and the Jets ($81 million).
Another $6 million plus would be created if DeVante Parker is cut or traded after the 2021 season. (Not that we’re suggesting they do this.)
Even more space would be created if the Dolphins — after this season — move on from Carter ($2.5 million cap savings) or Allen Hurns ($3.2 million cap savings) or Clayton Fejedelem ($2.8 million) or Greg Little ($1.6 million) or Adam Shaheen ($1.9 million), or less likely, Butler ($3.75 million), Eric Rowe ($4.6 million) or Jesse Davis ($3.6 million).
So the Dolphins realistically could top $100 million in 2022 space if they chose to.
What’s more, they also have $10 million in cap space now (according to the players union), and that can be carried over to next offseason.
If the Dolphins aren’t happy with Tua Tagovailoa’s play this season and want to acquire Houston Texans quarterback Deshaun Watson next spring, they will need to accommodate his $35 million cap number.
Watson’s 2022 cap number would be $40.4 million if he stays with Houston in 2022 — highly unlikely — or $35 million if he’s traded, unless he restructures his deal. He will pocket $35 million next season regardless of where he plays.
Obviously, the ideal scenario would be Tagovailoa flourishing this season and the Dolphins not feeling compelled to allocate the cap space and the treasure trove of draft assets to acquire Watson.
The Dolphins’ top free agents after 2021 will be defensive lineman Emmanuel Ogbah (who said he wants to be here long-term; there are ongoing talks on a multiyear deal), tight end Mike Gesicki and receivers Will Fuller and Albert Wilson.
Gesicki could cost the Dolphins perhaps $10 million a year in free agency or $9.3 to $11.3 million if given the franchise tag next spring.
But if third-rounder Hunter Long impresses the team this season, the Dolphins could move on from Gesicki — or Durham Smythe — after 2021, with Smythe also set for unrestricted free agency next March. But Gesicki’s value suggests the Dolphins will give strong thought to keeping him, even though they did not approach him about an extension during the spring or early summer.
Fuller could be retained if he has a big year.
So a chunk of the 2022 cap space could go to Ogbah, Gesicki and perhaps Fuller.
For those wondering about cornerback Byron Jones, cutting him after this season remains unlikely because $6 million of his $14.4 million salary is guaranteed in 2022 and there would be $12.3 million in dead money if he’s cut before June 1 and $8.1 million in dead money if the Dolphins cut him after June 1.
And what about the Dolphins’ draft capital next April?
In 2022, the Dolphins will have the 49ers’ first-round pick; their own pick in the second round; a 49ers’ third-round pick; two picks in the fourth round (their own and Pittsburgh’s), and a couple of late-round picks that still must be sorted out.
Miami’s 2022 first-round pick is owned by Philadelphia.
And the Dolphins will have two first-rounders in 2023 — their own and San Francisco’s.
So the Dolphins still have a lot of cap flexibility and draft assets to fill needs. And that — combined with the returning talent from a 10-win team and the offseason roster improvements — should give Dolphins fans reasons for hope.
Here’s my Wednesday piece with news from Brian Flores’ press conference.
Here are my Wednesday Dolphins notes, with something notable said by a coach about Jaylen Waddle and more nuggets.
Here’s my NFL television preview, with all the changes on each network and what to expect this season.
This story was originally published September 8, 2021 at 5:44 PM.
