The Miami Dolphins are navigating a turbulent period, with an exodus of key players that has fans raising eyebrows. The latest departure is Jaylen Waddle, joining a growing list of notable names like Minkah Fitzpatrick, Tua Tagovailoa, Jason Sanders, and Tyreek Hill who have parted ways with the team. It's been a rocky start for Jon-Eric Sullivan, but these moves were somewhat anticipated, along with the hefty dead cap hit the Dolphins are absorbing.
Stephen Ross, the Dolphins' owner, is shelling out a significant amount to former players now showcasing their talents elsewhere. In fact, Miami is leading the NFL in dead money, with a staggering $175 million tied up in contracts for players no longer on the roster.
This financial strategy has sparked a mix of reactions across the sports world. Some fans from other leagues find humor in the situation, while others are bewildered. Yet, one thing is clear: Ross is committed to revamping the franchise, showing a willingness to spend that other team owners might envy.
Let's put this into perspective with other sports leagues:
MLB: A whopping 12 MLB teams have a 2026 payroll that's less than what Miami is paying its former players. The Miami Marlins, for instance, have a payroll of $82.7 million, barely surpassing what the Dolphins are paying Tagovailoa alone.
NBA: The Grizzlies, Jazz, and Nets all boast payrolls under $175 million. The Nets are at $150 million, while the Jazz sit at $172 million for the 2026 season.
NHL: The NHL, known for more modest cap numbers, sees every team with a payroll lower than the Dolphins' dead money.
Currently, 14 Dolphins players are contributing to this dead cap space, but most of these contracts will clear after the 2026 season. While the present situation might seem grim, there's a silver lining.
The future holds promise, contingent on Sullivan's next moves. Dead money is a reality in the NFL, but with strategic planning, the Dolphins could soon find themselves in a much stronger position.