The 10 Biggest Dolphins Cap Hits for 2024

THE DOLPHINS' TOP 10 CAP HITS FOR 2024

With that in mind, let's look at the Dolphins players with the 10 biggest cap hits heading into the offseason (all figures from overthecap.com).

Defensive tackle Christian Wilkins currently isn't on that list, but he will be if the Dolphins place the franchise tag on him because that will carry a financial commitment (cap number) of about $20 million.

Until then, here's the top 10:

1. WR Tyreek Hill, $31.3 million

Hill is a logical candidate for a contract restructuring after he signed a four-year extension after his trade from Kansas City.

2. CB Jalen Ramsey, $27.3 million

Ramsey has $25.5 million in guaranteed money in 2024, but none after that season. He's another candidate for a contract restructure unless the Dolphins envision moving on from him after next season.

3. OLB Bradley Chubb, $26.9 million

Like Hill, Chubb signed a long-term extension (in his case, five years) after his trade to the Dolphins. He also is a candidate for a contract restructure.

4. CB Xavien Howard, $25.9 million

His situation has been examined many times already and the fact he's got not guaranteed money left and the Dolphins can save $18.5 million of cap space by making him a post-June 1 cut has made his departure more likely than not.

5. QB Tua Tagovailoa, $23.2 million

Tagovailoa is locked in at that cap number unless the Dolphins sign him to an extension that would lower his 2024 cap hit (likely) or ended up trading him (very unlikely).

6. T Terron Armstead, $20.2 million

The biggest question at the moment is whether Armstead wants to continue playing, though his contract is worth examing. He's already guaranteed to get $5 million of his $13.2 million scheduled base salary for 2024 and the rest will become guaranteed on March 15. The Dolphins could save $8.8 million of cap space if they decided to move on from him as a second post-June 1 cut (teams are allowed two per year). A restructure isn't as simple with Armstead because pushing money down the line for a 33-year-old player with his injury history might not be advisable.

7. DE Emmanuel Ogbah, $17.7 million

This is the simplest one of all: It's a borderline slam dunk he'll be released because he's got no guaranteed money left and the Dolphins will save $13.7 million of cap space by moving on from a player who became an afterthought on defense last season.

8. LB Jerome Baker, $14.8 million

This one is complicated because Baker has been a solid player for the Dolphins since arriving as a third-round pick in the 2018 NFL draft, but the team has its serious cap issues and Baker's cap number might be a tad high for its taste. The Dolphins can save $9.8 million by releasing Baker, but then would need to find another starting inside linebacker. This is going to be a delicate one, but it wouldn't be shocking to see the Dolphins approach Baker about taking a pay cut to bring down his cap number or restructure his deal.

9. DT Zach Sieler, $10.7 million

Sieler's three-year extension already looks like a steal for the Dolphins after the tremendous season he put together after signing his new deal last summer. 

10. WR Jaylen Waddle, $8.6 million

Waddle is heading into the final year of his rookie contract as a first-round pick in 2021 and one would think it's a slam dunk the Dolphins will exercise his fifth-year option before the May 2 deadline. The possibility does exist the Dolphins could sign him to an extension in the offseason that would lower his cap number for 2024, though the Dolphins are going to have to be conscious about how much money they're paying their starting wide receivers down the line.