The Miami Dolphins’ reset has left them staring at one of the league’s ugliest cap pictures for 2026.
After unloading major names this offseason - including Tua Tagovailoa by release, Tyreek Hill by release and Jaylen Waddle by trade - Miami has piled up dead money at a staggering level. The result is a roster teardown that looks as bleak financially as it does on the field.
The number that jumps off the page is $179,905,187 in dead money, according to Over The Cap. That total comes from a 20-player list, and it dwarfs what anyone else is carrying. For context, an entire NFL salary cap is $301.2 million.
Here’s how the Dolphins’ dead-money hits break down:
Tua Tagovailoa - $55,400,000
Tyreek Hill - $28,248,750
Jaylen Waddle - $23,228,128
Jalen Ramsey - $20,868,000
Minkah Fitzpatrick - $12,996,000
Bradley Chubb - $10,972,742
Terron Armstead - $10,732,750
James Daniels - $4,800,000
Zach Wilson - $3,800,000
Alec Ingold - $1,995,000
Jonnu Smith - $1,650,000
Nick Westbrook-Ikhine - $1,600,000
Matt Judon - $1,360,000
Jason Sanders - $663,000
Cam Smith - $527,897
Jamaree Salyer - $187,500
Zane Gonzalez - $179,167
Mohamed Kamara - $160,436
Mason Reiger - $158,333
Zane Gonzalez - $100,000
The harsh reality is that Miami may not need cap flexibility right away. The roster is expected to be in rough shape for the next few seasons as the rebuild plays out.
There is a path out of it, though. The Dolphins are projected to have $89.8 million in cap space in 2027, which would rank third in the NFL, and then $185.9 million in 2028.
Those projections can change, of course, but they point to a future where the financial damage starts to clear. By 2027, only two players from the current dead-money list are expected to still count against the cap: Tagovailoa and Bradley Chubb. By 2028, none of them will.
For now, though, the Dolphins are paying for the teardown in a big way. The next few years are going to be tough.
In Other News...
Dolphins End Camp With Roster Battles And New Injury Questions
The Dolphins wrapped training camp with an indoor practice centered on red zone work and late-game situations, the kind of session that often says as much about the roster as the plays themselves. Several players made their presence felt, including Malik Willis, Malik Washington and rookie Caleb Douglas, while head coach Jeff Hafley used the day to provide a final round of injury updates as Miami turned the page from camp routines to roster decisions.
Even with camp in the books, there are still plenty of moving parts for Miami to sort through. Some players were back on the field after injury, others were still limited or unavailable, and that mix keeps the depth chart fluid heading into the next phase of the preseason calendar. For a team that has spent the summer sorting out competition at multiple spots, the last practice offered a useful snapshot, but not a final answer. [Read more 🡒]
Dolphins Could Pull Off A Franchise Reset Without Losing A Blue-Chip Weapon
The idea of a Dolphins reset with a safety net attached is the kind of offseason-or-beyond speculation that gets attention quickly, and ESPN draft analyst Jordan Reid has floated a particularly intriguing version of it. In his 2027 mock draft, Miami would move down from the No. 1 overall pick to Cleveland, stockpile multiple picks in the process, and still come away with wide receiver Jeremiah Smith from Ohio State, giving the front office a chance to reshape the roster without walking away empty-handed.
On paper, it is the rare trade-down scenario that still leaves the Dolphins with a premium offensive weapon at the top of the draft. Reids proposal has the Browns sending their first-round picks, a fourth-round pick and a future second-rounder to Miami, which would make the haul significant even before the Dolphins turn around and make their own selection. It is all speculative for now, but the framework raises the exact kind of question teams hope to answer when a franchise reset is on the table: how much can you gain while still landing the player who changes your outlook? [Read more 🡒]
Malik Willis Just Put Dolphins Offensive Struggles Front And Center
Training camp has already shown why the Dolphins are still searching for offensive rhythm, and Malik Willis added a small but telling moment to that picture during a recent practice. After a rough start, the quarterback stopped the offense to pull everyone back together, a sign of how quickly the unit has had to confront its own uneven execution.
Bobby Slowik has already acknowledged the problems, pointing to the pass protection and pass catching issues that have surfaced in preseason action. With Jeff Hafley suggesting the starters may play against the Atlanta Falcons, the next chance to clean things up could come soon, but the bigger question remains whether Miami can turn those reset moments into something more reliable when it counts. [Read more 🡒]