The Miami Dolphins completed a number of moves that created a significant amount of cap space as the new league year and the start of free agency is on the horizon.
As I wrote earlier this year, the Dolphins entered the offseason with a plethora of options to create significant cap space, and they have already started checking off the boxes to do just that.
It all started with the expected release of cornerback Byron Jones, who was designated as a June 1st roster cut earlier this week, according to ESPN. The move will save the Dolphins $13.6 million in 2023 and will represent an approximate $10 million cap hit in 2024.
Since the Dolphins started the process being $17.7 million over the cap, some work was needed to be done, and Jones was just the start.
On Thursday, the Dolphins re-worked the contract of linebacker Bradley Chubb, clearing $14.56 million in cap space by converting $18.32 million of Chubb's salary into a signing bonus in order to free up cap space.
The Dolphins got more done on Friday, with the restructuring of the contracts for wide receiver Tyreek Hill and offensive tackle Terron Armstead.
According to ESPN, Miami is converting Hill's $10 million roster bonus and $16 million salary into a $24.835 million bonus and an $1.165 million salary, which saves them $18 million against the cap.
Additionally, the Dolphins will create $11.876 million in salary cap space with Armstead's contract restructuring.
Now, the Dolphins have around $44 million in available cap space, and more moves are likely on the horizon as they enter a free agency period where offensive line and linebacker will be of pressing needs.
With limited draft capital, expect the Dolphins to be in hot pursuit of offensive line help, quarterback depth, linebacker upgrades, and also upgrades in the secondary.
The chatter on sports talk radio podcasts as well as any popular sports live streaming platform is that the Dolphins will be big spenders in free agency once again.
Miami could be in on names such as San Francisco 49ers tackle Mike McGlinchey, former Tampa Bay Buccaneers linebacker Lavonte David or former Los Angeles Rams linebacker Bobby Wagner, or scour the trade market for the likes of Tennessee Titans running back Derrick Henry and/or Rams star cornerback Jalen Ramsey.
Who is ready for the offseason?
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