Kelly: Every move Dolphins can make to create cap space comes with consequences
The Miami Dolphins’ list of needs going into the 2025 season is longer than the list of positions that don’t need to be addressed in the draft, or free agency.
Every unit on the roster - from backup quarterback to starting cornerback - could use a touch-up. And some positions - particularly offensive line, defensive line and safety - head into next month’s start of free agency needing massive overhauls.
And the list of needs could get longer because the Dolphins’ annual roster purge just got started.
Miami’s decision makers went for the layups last week, releasing three former starters to create roughly $8 million in cap space on Valentines Day.
Tailback Raheem Mostert, a 2024 Pro Bowler who set franchise records for touchdowns scored in a season (21), tight end Durham Smythe, who had started 74 games in his seven seasons with the Dolphins, and cornerback Kendall Fuller, who was signed last offseason to replace Xavien Howard as the starter opposite Jalen Ramsey, were all aged and expendable veterans.
De’Von Achane became Miami’s lead back last season, and had a decent (not great) year.
Jonnu Smith delivered a Pro Bowl season for the Dolphins in 2024, and Julian Hill leapfrogged Smythe on the depth chart last season because he was a superior blocker.
And Fuller suffered two concussions in 2024 and a serious knee injury in December. The Dolphins seemingly didn’t know if they could count on the nine-year veteran in 2025 and preferred the $2.2 million in cap space Fuller’s release created, even though that amount of money can barely pay for a backup offensive lineman.
What those roster purges did is get Miami closer to balancing the books, helping a financially irresponsible team get in the black since the Dolphins are now projected to be $5.5 million over the cap, with roughly three weeks to tighten up the finances.
To have the type of offseason the Dolphins have become accustomed to, and need to have to save everyone in the organization’s job - which is what 2025 is about, make no mistake about it - South Florida’s NFL franchise must purge, restructure, and shakedown more players, creating another $25-35 million in cap space.
That’s going to lead to some tough decisions for General Manager Chris Grier and head coach Mike McDaniel. And even more importantly, tough negotiations.
Would it be wise for Miami to borrow from the bank of Tua Tagovailoa, restructuring the contract the quarterback signed last summer by turning his $25 million base salary into a roster bonus?
While that accounting move could clear as much as $19 million in cap space, it would make it harder for the Dolphins to move on from the quarterback in future years because it would increase the dead cap in his deal?
Tagovailoa’s deal was set up to be restructured, but considering he lost six and a half games last season to concussion and hip issues, Miami would be wise to keep open its escape hatch in the contract in the offseason of 2027. Altering the deal would make moving on from the contract after 2026 more difficult.
Grier and McDaniel shouldn’t be allowed to make that call. Only owner Steve Ross should because neither can be trusted to think long-term about Miami’s future based on the win-now mandate Ross has placed them in.
But that’s not the only tough financial decision coming in the next few weeks.
Does Bradley Chubb have a future with the Dolphins? We’ll learn that by March 10, the start of free agency.
In October of 2022 Miami traded a 2024 first-round pick, and disappointing tailback Chase Edmunds for Chubb and a swap of fourth and fifth-round picks, then gave the pass rusher a five-year, $110 million extension so he could become one of Miami’s foundational pieces on defense.
Problem is, Chubb has only had one healthy season with the Dolphins since that trade, and he’s on the books for $20.2 million in 2025.
The Dolphins can escape the deal by releasing Chubb as a June 1 release, and clear $19.5 million in cap space since all his guaranteed money has already concluded.
Problem with that approach is Miami couldn’t use that money until June 1, and it would create a glaring hole at edge rusher on the roster since Chop Robinson isn’t an every down player yet, and Jaelan Phillips is also rehabbing a torn ACL he had surgically repaired in October, and there’s no guarantee the fifth-year pass rusher stays healthy based on his college and NFL history.
Another avenue to create cap space is to shakedown left tackle Terron Armstead, much like the franchise did last year, giving him a $5 million pay reduction.
Armstead is on the books to make $14.3 million this season in base salary and per game bonuses. The 12-year veteran knows the shakedown, or release is coming because of his age (34), durability issues (consistent knee problems), and the fact Miami already has his replacement (Patrick Paul, a 2024 second-round pick) on the roster.
If Armstead, who is one of Miami’s top leaders and performers when healthy, doesn’t agree to a pay cut the Dolphins will save $4.2 million by releasing him outright, or $15 million by making him a June 1 release.
Remember, Armstead has to agree to whatever Miami is offering. And if he doesn’t there’s a decent list of teams interested in a top offensive tackle, even if he’s only available for 12 games a season.
Teams are only allowed two June 1 releases, so using it on Armstead and Chubb would create $34.5 million in cap space.
That would provide Miami enough cap space to add about five or six new veteran starters on multi-year deals, similar to how Miami added inside linebackers Jordyn Brooks and Anthony Walker Jr., Fuller, Smith, pass rusher Shaq Barrett, and safety Jordan Poyer in the first week of free agency last year.
Problem is, that cap space can’t be used until June 1, which is far after free agency has concluded.
That means it would benefit the Dolphins to find some way to make a deal with both Chubb and Armstead work because it reduces their salary and the cap hit, while retaining the two often-injured starters.
Either do that, or enjoy a quiet and free agency period unless you plan to visit the Bank of Tua.
Tough decisions are ahead for Grier and McDaniel, and there are no easy answers since every move that can be made to create cap space comes with consequences.
