The Dolphins were in a dangerous situation working with quite a precarious cap number. In an effort to get within compliance, Miami reworked the deals of several players in order to lessen their respective salary cap impacts.
One of the biggest deals to get done was the restructure of star cornerback Jalen Ramsey. According to Tom Pelissero of NFL Network, the team converted $13.89MM of Ramsey’s 2024 base salary (now only $1.21MM) and an $11MM roster bonus into a signing bonus while adding an additional void year to the two already in existence at the end of his contract.
The work put in by both sides resulted in a cap clearance of $19.91MM.
Here are a few other restructured deals the Dolphins utilized to increase their available cap space:
- We mentioned after the re-signing of offensive guard Robert Jones that an adjusted contract was on the way for left tackle Terron Armstead. Lo and behold, per Daniel Oyefusi of the Miami Herald, Armstead will accept a $4.25MM pay cut in 2024 while bringing in $10MM of guaranteed salary. His new deal includes a $7.29MM signing bonus, as well. The adjustments cleared another $10.29MM of cap space for the Dolphins.
- It was Michael Ginnitti at Spotrac.com who informed us of the remaining adjustments. Defensive lineman Zach Sieler contributed by agreeing to convert $7.01MM of his 2024 base salary (now only $1.13MM) into a signing bonus while adding two void years to the end of his deal, resulting in the clearance of $5.6MM of cap space. Fullback Alec Ingold chipped in by agreeing to convert $2.08MM of his 2024 salary (now also $1.13MM) into a signing bonus while adding two void years to the end of his contract, as well, resulting in $1.66MM of cap space clearance. Finally, tight end Durham Smythe agreed to convert $2MM of his 2024 base salary (now also $1.13MM) into a signing bonus while adding three void years to the end of his current deal, resulting in $1.6MM of new cap space. Oyefusi points out that the addition of all those void years speaks to the dire nature of the team’s salary cap position. They ended up finding cap compliance in time for the new league year, but the cap hits of those void years will find them eventually.
Silliness. Their window to win was this past season. It looked like they may have a shot after about 10 weeks, but it all crashed from there. It would be better just to cut your losses now. This is really going to bite them in 3 or 4 years.