Former Colt Malik Hooker will visit with the Dolphins on Tuesday (Twitter link via NFL.com’s Ian Rapoport). This marks the first known visit in a while for the one-time first-round safety. 
Now that May 3rd has come and gone, teams will no longer be docked in the compensatory pick formula for signing veterans. Teams have been waiting patiently for that deadline to pass, so players like Hooker are bound to be scooped up in the coming weeks. The Ravens, for example, had been eyeing offensive tackle Alejandro Villanueva for weeks. Still, they waited until Tuesday morning to finalize his new two-year deal.
Hooker played out his rookie contract with the Colts, but he’s been plagued by injury trouble throughout his career. He did manage to bounce back from a seven-game rookie season to suit up for 27 regular-season contests from 2018-19, but he was limited to just two games last year. Now, he’s believed to be mostly recovered from his September Achilles tear.
If signed, Hooker will join third-round pick Jevon Holland in the Dolphins’ safety group. For now, the ‘Fins project to start Eric Rowe at strong safety and Bobby McCain at free safety.
Does the team get docked the following year for signing a veteran? Or is there just no penalty now until next league year?
No penalty now for signing compensatory free agents until next league year, yes
No penalty now. Sign away with reckless abandon
Jevon Holland was drafted in the second round.
Dolphins meet with HOOKER !!